Financial Firms Elevate Digital Identity Infrastructure

In a new report, PYMNTS Intelligence and Trulioo find that inadequate digital identity verification now constrains financial-services growth, with over 75% of firms saying identity processes limit expansion and KYC/KYB failures costing about 3% of revenue—nearly $34 billion industrywide. The study notes more than 90% of global identity platform users see verification improve over time and recommends layered verification and ongoing monitoring.