～With the provision of new functions that automate identity verification with AI, the industry for LIQUID eKYC introduction is diversifying for uses such as age verification ～
Liquid Inc. announced that its identity verification service “LIQUID eKYC” has ranked as No.1 share※1 in the eKYC market for four consecutive years in terms of sales in the market research report “ITR Market View: Identity Access Management/Personal Authentication Security Market 2023” published by ITR Corporation.
In addition to its adoption in diverse industries such as finance, mobile communication, second-hand shops, sharing economy, dating apps, crypto asset trading services and blockchain game guild services related to Web3, LIQUID eKYC has achieved the No. 1 share position due to the expansion of uses cases.
In June last year, LIQUID eKYC began offering an AI verification function that automates identity verification operations and a new plan that reduces implementation efforts and costs, which has led to increased adoption for uses such as automating age verification, mainly by businesses that are not legally obligated to verify the identity of their customers. In addition, financial institutions are using LIQUID eKYC not only for account opening, but also for various notifications such as address, phone number, and transfer limit changes as well as for identity verification and linking of smartphone devices when account holders register to use authentication applications.
“LIQUID eKYC” with the largest share of the eKYC market for four consecutive years※2
The service provides online completion of identity verification required for online contracts, account registration, and account opening. We offer a method that takes a picture of an identification document or reads an IC chip and matches it with selfies, as well as a method that utilizes public personal authentication. We can also support age verification for student discounts. Our proprietary AI, biometric, and OCR technologies have enabled us to maintain a low drop-off rate from the start to the end of the photo shooting process and the cumulative number of identity verification cases has exceeded 20 million.
※1,2 ITR “ITR Market View: Identity Access Management / Personal Authentication Type Security Market 2023” eKYC Market: Sales Value Share by Vendor (FY2019-FY2022 Forecast)
Liquid aims to make a seamless world where all 7.7 billion people in the world can easily and safely use all services as they are by automatic and ubiquitous authentication. We provide our own Digital ID, KYC and Authentication service, where users can prove their identity anytime, anywhere in the world with their smartphone or face.We are expanding our service globally and utilise the know-how accumulated under the Japanese strict law and rule. We adapt our operations and services flexibly and quickly to changes in the required legal and security framework.