Financial sector ups investment in ID verification tech

Banks, fintechs, and crypto platforms are ramping up investment in fraud prevention and identity verification (IDV), positioning it as the next layer of cyber defense, according to a new survey. The study from Regula shows banks are leading this trend: the share of institutions intending to increase IDV budgets by more than 50 percent is nearly tripling -- from 4.4 percent to 15 percent in just two years. Roughly a third of banks and crypto firms and a fifth of fintechs expect 10-20 percent increases. Meanwhile, at least every third organization in the wider financial services ecosystem is considering more… [Continue Reading]