2024 Gartner® Magic Quadrant™ for Identity Verification

Incode has been recognized by Gartner® as a Leader in the 2024 Gartner® Magic Quadrant for Identity Verification.

Download your complimentary copy of the first-ever Gartner® Magic Quadrant™ for Identity Verification for expert insights into this growing market, and to make informed decisions about your identity verification strategy.

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Download a complimentary copy of the 2024 Gartner® Magic Quadrant™ for Identity Verification now!

Stay ahead of the rapidly changing identity verification landscape with insights from the first-ever Gartner® Magic Quadrant™ for Identity Verification.

The 2024 Gartner® Magic Quadrant™ for Identity Verification offers the first comprehensive analysis of the key players in the evolving identity verification (IDV) market. With increasing regulatory demands, growing fraud risks, and the need for seamless digital experiences, identity verification has become a top priority for businesses worldwide.

Our takeaways from the 2024 Gartner® Magic Quadrant™ for Identity Verification:

Ease of configuration as a key differentiator

In a crowded market, ease of configuration is a crucial factor for businesses. A drag-and-drop workflow editor simplifies the customization of identity verification processes, offering flexibility and ease of use. This makes it easier for organizations to adapt to evolving verification needs without technical complexity.

Expanding use cases beyond KYC

While historically tied to Know Your Customer (KYC) regulations, identity verification is increasingly being used for fraud detection, workforce verification, age assurance, and account recovery. Solutions that can support these broader use cases are becoming increasingly important across industries.

Integration with government eID schemes and authoritative sources

For a higher level of identity assurance, many vendors are beginning to integrate with government eID schemes and access issuing authority databases. These integrations enhance security and enable businesses to comply with local regulatory requirements and improve the accuracy of identity verification.

Biometric verification plays a crucial role in strengthening these processes, offering additional layers of security. By combining government-issued data with biometric checks against a government source—businesses achieve the highest and most robust verification processes.

Fraud detection beyond basic IDV

As fraud tactics evolve, particularly with the rise of deepfakes and injection attacks, businesses need advanced solutions. Vendors are investing in deepfake detection and layered injection detection technologies through a combination of fraud signals to help businesses stay ahead of increasingly sophisticated threats.

Transition toward digital identity

The IDV market is transitioning toward portable digital identity solutions, including digital identity wallets. While this shift may reduce the number of discrete identity verification events in the future, it creates new opportunities for vendors to remain relevant by offering solutions that integrate with these emerging technologies.

Gartner Disclaimer:
Gartner, Magic Quadrant for Identity Verification, Akif Khan, James Hoover, Nayara Sangiorgio, 21 October 2024.
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