New Seminal Research Highlights the Critical Role of Identity Authorization Networks in Combating Fraud and Establishing Trust in a Digital-First World
NEW YORK, November 19, 2024—Liminal, a market and competitive intelligence technology leader, has released a new seminal report, The Market for Identity Authorization Networks in the United States, introducing and defining Identity Authorization Networks (IANs) as an emerging category. The report forecasts that the total market size for IANs in the U.S. will grow significantly, representing $15.5 billion by 2028, as demand grows for solutions that securely link online transactions to verified identities. With rising digital fraud, IANs offer a fresh approach to building trust and enhancing the security of digital interactions through the practical extension of identity verification into new industries and use cases.
“As generative AI fraud and digital identity theft escalate, the need has become apparent to solve for trust and fraud by design vs. as an afterthought,” said Travis Jarae, CEO at Liminal. “Our research reveals how IANs can transform digital trust, providing a scalable, cost-efficient, and user-friendly solution that securely links real-world identities to online actions. Businesses with the vision, conviction, and resources to execute on the Identity Authorization Network opportunity can seize substantial financial and strategic gains.”
The report identifies the rising need for IANs across financial services, government, e-commerce, and fintech sectors. These networks help businesses meet regulatory requirements, prevent fraud, and enhance user experience by securely verifying identity at critical points in the digital journey. By establishing identity trust and authorization networks, industries can ensure safe, frictionless transactions while addressing the unique challenges of digital fraud and synthetic identity threats.
Key Insights from Liminal’s Seminal Research on the Critical Role of Identity Authorization Networks
- $15.5 Billion Market Opportunity – The Identity Authorization Network (IAN) market in the U.S. is projected to represent $15.5 billion by 2028, fueled by a sharp increase in digital fraud incidents and rising demand for secure identity verification solutions.
- 90% of E-commerce Platforms Report an Increase in AI-enabled Transaction Fraud, and lower assurance verticals are already beginning to feel the impact of this wave of fraud.
- 80% of Banks Expect GenAI Fraud to Undermine their Anti-fraud Methods, and financial services firms cite being unprepared to deal with novel fraud vectors introduced by AI.
- 75% of Banks are Deeply Concerned about Document and Signature Fraud, and 86% Seek Enhanced Security Solutions. Fraud and risk executives recognize the risks of electronic document fraud and are ready to allocate more budget to close security gaps, making IANs a strategic starting point.
Liminal’s report on The Market for Identity Authorization Networks equips business leaders to understand a fast-evolving digital trust landscape, how IANs can generate tremendous value in the face of new threats and requirements, and which digital identity players could capture the IAN opportunity. The report offers a comprehensive analysis of adoption drivers, technology trends, and how IANs are poised to revolutionize digital identity in the United States ultimately.
Upcoming Events
Join us on Wednesday, December 11 at 8 am PT / 11 am ET / 4 pm GMT for an exclusive webinar, Solving for Trust by Design: The Identity Authorization Network Opportunity. This session will dive into Liminal’s groundbreaking research on Identity Authorization Networks (IANs), an emerging category poised to combat AI-driven fraud and redefine online trust. Key insights include the $15.5 billion U.S. market opportunity, the evolving threat landscape, and a blueprint for building secure, seamless, and scalable networks that link real-world identities to digital credentials. Featuring insights from Travis Jarae, Will St. Clair, and Cameron D’Ambrosi, this webinar is a must-attend for innovators and thought leaders in digital identity. Register now to secure your spot.
Stay Connected with Liminal
For more updates on our leadership, innovations, and insights into cybersecurity, digital identity, trust & safety and privacy and identity management, follow us on LinkedIn and subscribe to our newsletter. Join our growing community to stay informed about the latest trends and advancements in the industry.
