July 27, Gartner published its annual update on identity and access management, the so-called Hype Cycle, edited by Tricia Phillips. Document centric identity verification is coined to a high-priority technology, with very high benefits to every organisation and a high level of maturity. This includes NFC-based identity proofing and explicitly mentions ReadID.
The Gartner Hype Cycle is a nice tool to evaluate the relevance and maturity of technologies. In their 2021 update of the IAM hype cycle, special attention is paid to document-centric identity verification. As Gartner states, DCIP is important as it allows organisations to have confidence in who you interact with. Therefore, DCIP is a key enabler or trusted interaction with remote customers and employees. An important observation is that data-centric techniques based on personally identifiable information thus become obsolete.
One of the obstacles Gartner identifies are potential drop-out rates. This is a serious concern indeed, for many vendors. ReadID has proven to result in conversion rates of over 95%, for example with ABN AMRO / Florius, much higher than optical verification technologies. For ReadID, drop-out has never been an issue, even combined with 100% security of the chip technology we work with. This high conversion is the result of detailed analysis of over 2600 models of smartphones and numerous identity documents, allowing us to implement over 200 different scenario's to guide the user.
Want to know more about the content of the Hype Cycle or how ReadID stands out? Feel free to contact us.