Press Release

32 Market Leaders on the Link Index Report for Account Opening for Financial Services.

Press Release for Link Index Report for Account Opening in Financial Services

32 Providers Recognized as Market Leaders on Link Index Report for Account Opening for Financial Services. Buyers Poised to Reap $3.50 ROI for Every Dollar Invested


Liminal Strategy Inc. 

27 Jul, 2023, 15:05 ET

Liminal, a leading advisory and market intelligence firm specializing in the digital identity, cybersecurity, and fintech markets, has released its highly anticipated Link™ Index Report for Account Opening in Financial Services. The comprehensive report evaluates 150 solution providers in the financial sector, identifying 32 companies as market leaders in compliance and fraud prevention for account opening. Buyers adopting these market-leading solutions stand to gain a significant return on investment (ROI) of $3.50 for every dollar invested.

The market for Account Opening in Financial Services has been witnessing exponential growth, with solution providers focused on maintaining high levels of security without compromising user experience while adhering to regulatory compliance. Account opening solutions are crucial in verifying new users during customer registration, primarily for mandatory compliance checks known as “Know Your Customer” (KYC).

The Link Index Report highlights the critical demands in the market, emphasizing the need for robust data quality solutions to handle fraud and compliance seamlessly through a unified platform. While many providers are actively developing key capabilities, no single vendor has dominated the market yet, creating a prime opportunity for emerging solution providers.

Buyers in the financial services sector seek vendors that meet specific key criteria when considering account opening solutions. Among the top purchasing criteria are speed and accuracy (94%), product capabilities (81%), and value for money (71%). The report also revealed that 87% of buyers are looking for enhanced fraud capabilities as part of their solution, driven by the rising threats from fraud vectors such as synthetic identity. 

One of the report’s key highlights is the Link Score, Liminal’s unique tool to help buyers assess solution providers. The assessment evaluates company momentum, market strength, stability, product scope, and leadership, providing valuable insights for informed decision-making. The Link Score considers various factors, including social media growth, market size, regulatory risk, leadership stability, product uniqueness, and executive team strength.

Out of the 150 vendors evaluated, only 32 have been recognized as market leaders, providing strong overall solutions with all the “Must Have” capabilities required for this market use case. Large incumbents, particularly credit bureaus, currently hold a dominant position in the market, with more than 87% of buyers considering them leading solutions. However, innovative new entrants, represented by smaller companies, offer unique solutions that can enhance user experience during the account opening process.

The market opportunity for buyers adopting market-leading compliance and fraud solutions is significant. Such buyers can expect a return of $3.50 for every dollar invested in a solution provider, attributed to $1.40 in fraud and compliance cost savings, $1.80 in revenue increase due to UX improvements, and $0.30 in savings from automated processes. Additionally, comprehensive solutions can lead to a 17% reduction in fraud at account opening and a 17% reduction in customer abandonment.

“As the financial services industry faces increasing compliance and fraud challenges, the Link Index Report provides valuable insights to help companies navigate the crowded market and identify buyer opportunities,” said Travis Jarae, CEO at Liminal. “We are thrilled to recognize the 32 market leaders at the forefront of offering robust account opening solutions, ensuring seamless compliance and enhanced user experience.”

Liminal’s Link Index Report is a specialized research publication that equips technology buyers and solution providers with a competitive advantage in the digital identity technology market. The report utilizes a proprietary research framework, leveraging Liminal’s Digital Identity Landscape™ taxonomy and ontology, to evaluate and rank product features based on their relevance to real-world market use cases. The Link Index Report fills a gap in the current market of vendor research reports, providing a specialized understanding of the digital identity landscape, its players, and the market opportunities. 

Download the executive summary and explore the market opportunities for account-opening solutions in financial services. To receive a full version of the report, contact us at

Liminal Members can access the full research report through the Link™ Platform

About Liminal 

Liminal is a market intelligence and strategic advisory firm serving digital identity, fintech, cybersecurity solution providers, and the private equity and venture capital community. Since 2016, Liminal has provided strategy and analytical services that support executive decision-making at all product or business lifecycle stages. We advise some of the world’s most prominent and innovative business leaders, investors, and government officials on building, buying, and investing in the next generation of digital identity solutions and technologies. 

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Liminal and the Liminal marks used herein are trademarks or registered trademarks of Liminal and its affiliates. Other product and company names mentioned herein are the property of their respective owners.


Stacy Schulman

Liminal Media Relations

1 (602) 616-9818

[email protected] 

Jennie Berry

Liminal Media Relations 

1 (914) 473-0334

[email protected] 

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