626 E Whispering Oaks, Palatine, IL 60074
+1-224-678-1803 info@7newswire.com Book A Demo

E-KYC Market Size Share Industry Overview and Forecast 2020-2030


E-KYC Market to surpass USD 1579.5 million by 2030 from USD 295.15 million in terms of value growing at a CAGR of 24.5% throughout the forecast period, i.e., 2020-30. Decreasing paperwork and reducing the turnaround time of completing KYC formalities online in real-time in a few simple steps are the key factors. In addition, government regulators are focusing on monitoring and regulating the digital currency to eliminate anonymity in transactions, and transfers of cross-border funds are expected to fuel demand for e-KYC across India in the coming years. Furthermore, the increasing use of remotely verified e-KYC throughout the world to reduce financial institutions’ costs is reinforcing market growth. In addition, increasing AI and machine applications in analyzing a massive amount of data generated through digital currency transactions and helping to reduce the number of false alerts are expected to drive demand for e-KYC in the coming years.

KYC is a procedure for identifying and verifying the identity of a client. A number of regulations related to, for example, anti-money laundering (AML), terrorist financing, or standards for electronic identification and trust services affect this process (eIDAS). The term e-KYC is used to describe the digitalization of KYC processes and the electronic and online conception of them. The remote, paperless process that minimizes the costs and traditional bureaucracy needed in KYC processes is e-KYC (Electronic Know Your Customer). Identity falsification, signatures, and phishing are very common. Completely secure e-KYC has been developed by specialist companies engaged in technological compliance solutions that have developed completely secure e-KYC processes with zero margins for the commission of these counterfeiting offenses and related crimes.

Request Free Sample Copy Research Report @ https://www.fatposglobal.com/sample-request-373

Free Sample Includes:

  • Market size & share analysis
  • Top market players with sales, revenue, and business strategies analysis
  • Market growth drivers and restraints
  • Market opportunities & challenges
  • Research methodology

(Get Sample Report within 12hrs with Covid-19 Impact Analysis)

E-KYC Market: Key Players

  • Tata Consultancy Services (TCS)
  • Wipro Technologies
  • EverCompliant
  • GIEOM Business Solutions
  • 63 moons technologies limited
  • Jumio Corporation
  • IDnow GmbH
  • Onfido
  • Financial Software & Systems Pvt. Ltd.
  • Pegasystems Inc.
  • Panamax Inc

E-KYC Market: Segments

Cloud-based Segment to grow with the highest CAGR during 2020-30

E-KYC Market is segmented by the delivery model as on-premise and cloud-based. The On-Premises segment is estimated to lead the market with a share in 2019. It is due to the organization’s on-site benefits of using their server to ensure data security. In the forecast period, the cloud will expand at a significant pace. This is due to the SaaS-based e-KYC solution from the company, which allows cost-effective access to the cloud-based implementation of the e-KYC solution.

Financial Institutions Segment to grow with the highest CAGR during 2020-30

E-KYC Market is segmented by End-user into Banking Industry, Financial Institutions, E-payment Service Providers, Telecom Companies, Government Entities, Insurance Companies, and Others. The banking industry segment accounted for the largest revenue share in 2019 due to the rise in the application of E-KYC to automate customer onboarding, by authenticating KYC documents online and automating payment collections, eliminating paperwork in the processing of loan applications, and preventing identity fraud. In addition, the main share is also attributed to the increasing adoption of the traditional KYC process for e-KYC for digital and remote exchange and lower cost in an optimized method. The Financial Institutions segment has a lucrative market share in 2019 and is expected to generate significant revenue during 2020-2030 due to e-KYC contributing to the remote onboarding of the client and helpful in preventing compliance and risk assessment of anti-money laundering compliance & risk assessment.

Download Free PDF Report Brochure@ https://www.fatposglobal.com/free-broucher-373

E-KYC Market: Market Dynamics


Stringent government regulations to prevent money laundering and financial fraud

Factors such as terrorist financing activities and huge monetary losses in the banking, financial services, and insurance (BFSI) sectors are expected to drive the growth of the target market. In addition, it is expected that the increasing importance of compliance management and the increasing number of identity-related frauds will drive the growth of the target market. In addition, the increasing incidence of cyber-attacks against small and medium-sized enterprises (SMEs) has helped grow the target market. In addition, increasing adoption of the cloud, increasing internal and external threats, and the Internet of Things (IoT) are some of the factors that are expected to boost the growth of the target market as well.


Lack of Awareness and Technical Glitches

In a safe and easy way, e-KYC facilitates online transactions and helps to manage multiple digital accounts effectively. This activity in developed countries is most prominently witnessed. Failure of technical infrastructure and data breaches along with misuse of personal information can, however, pose a challenge to the growth of the e-KYC industry in the near future.

Browse detail report with in-depth TOC @ https://www.fatposglobal.com/reports/e-kyc-market/373

E-KYC Market report also contains analysis on:

E-KYC Market Segments

  • By Deployment Mode:
    • Cloud-based
    • On-premise
  • By End-user:
    • Banks
    • Financial Institutions
    • E-payment Service Providers
    • Telecom Companies
    • Government Entities
    • Insurance Companies

Enquire more about this report before purchase @ https://www.fatposglobal.com/custom-request-373

About us

Fatpos Global stands for “Failures Are The Pillar of Success”. We are a rapidly-growing global management consulting, advisory, and market research services provider that aims to aid businesses with bold decisions that help them embrace change for their sustainable growth. With the help of our experts and industry veterans and their years of expertise across different industry verticals, we aid businesses with solutions that help in their efficient decision making and Developing executable strategies. With a vibrant ecosystem of robust digital innovation and a vision for the delivery of management consulting, advisory, and market research services and solutions in better, faster, and transformational growth strategies, we thrive to enable our extraordinary thought leadership processes into our services with the equitable analytical tools and experiences that help us make our clients achieve their goals turn into a reality

Contact us

Fatpos Global

1655 Market St,


PA 19103, USA

+1 (484) 775 0523


Follow us

LinkedIn | Instagram | Facebook | Twitter | YouTube