The partnership between Avis and Clear in Mexico allows biometric vehicle pickup at Cancun Airport, marking a step in digital ID integration. Clear’s growth trajectory is further exemplified by partnerships and record revenues, while other IDV firms like Regula and Veriff also report significant growth due to heightened demand. Technavio projects a market increase of $16.92 billion by 2028, highlighting the industry’s competitive nature.
At digital identity conferences, a notable development is occurring in Mexico where Avis and Clear have partnered to enable customers to bypass the rental counter through biometric identity verification. This innovative system is operational at Cancun International Airport, featuring three kiosks focused on biometric facial recognition specifically for Avis customers, including Preferred Members and non-members who can submit credentials beforehand for a seamless pickup experience.
Since partnering in 2023, Clear’s integration into Avis’s operations enhances their existing TSA Precheck service, illustrating the importance of digital ID in airports for biometrics and ID verification (IDV) providers. The strategic rollout at key locations like airports can give Clear a competitive edge as it considers potential expansion to additional rental sites.
Clear reported record revenues and net income in 2024, positioning the company for robust growth. The collaboration with Uber for rider verification exemplifies CEO Caryn Seidman-Becker’s vision for a pervasive biometric ecosystem, emphasizing its necessity across diverse platforms.
Other companies are also experiencing significant growth in the flourishing IDV sector. Regula announced a remarkable 52 percent increase, claiming to support 152 million online users globally due to heightened demand for identity verification spurred by tighter regulations in Europe and surges in fintech and digital payments. Executive VP Henry Patishman noted that the growth reflects regulatory changes, digital transformations, and increasing fraud sophistication, highlighting the critical nature of identity verification.
Estonia-based Veriff has gained recognition as one of the top 50 vendors in the Chartis Financial Crime and Compliance (FCC50) report, underscoring its advancements in technology for combating financial crimes. CEO Kaarel Kotkas remarked on the significance of receiving such acknowledgment from a knowledgeable industry authority.
Moreover, Lithuania’s Ondato has once again been listed among Europe’s fastest-growing companies in the Financial Times’ FT 1000 report, positioned at number 420. This recognition attests to Ondato’s commitment to innovation and industry leadership in the identity verification field.
A report by Technavio projects a substantial growth of $16.92 billion in the global IDV market from 2024 to 2028. Key players identified in the report include Equifax, Jumio, and Thales Group among others, signifying a competitive and expanding marketplace for identity verification solutions.
The article highlights the evolving landscape of the identity verification market, particularly emphasized by the Avis and Clear partnership in Mexico, which illustrates the integration of biometric technology in everyday transactions. Other companies are also capitalizing on this trend with substantial growth reported in user engagement and industry recognition. The overall IDV market is expected to experience significant expansion, underscoring the increasing demand for sophisticated identity verification solutions driven by regulatory pressures and digital transformation efforts.
Original Source: www.biometricupdate.com
