A Guide to Identity Verification for FinTechs

The financial industry has seen rapid changes and digital transformation. While the move in this direction was happening in the years prior, adoption was furthered along by the Covid-19 pandemic in 2020—an unprecedented number of consumers were pushed online, with many using apps to manage their financial lives. In fact, in the US it’s estimated that 9 in 10 individuals are using some form of a FinTech app to manage their finances. And with the evolving digital-first landscape, the impact of FinTech is significant for consumers and businesses alike.

In this guide, you will learn about:

• The growing FinTech industry
• The different types of FinTech companies
• The challenges FinTechs face
• Why identity verification is key for trust, compliance & fraud prevention