Regula has announced that it has reached a new milestone of 100 million users globally.

The company highlights that the US in particular has been a significant market for growth, at 216%.

The rise of full authenticity checks

Regula says that the results of a survey it conducted at the beginning of 2023 highlight an increase in identity fraud.

The most prevalent form of fraudulent activity experienced by organizations was the use of fake or modified physical documents.

26% of small and medium businesses (SMBs) and 38% of enterprises experienced more than 50 identity fraud incidents during the previous year.

The cost was also significant, with 64% of all businesses reporting losses of at least $120,000 and 37% of the world’s largest businesses reporting losses of at least $480,000.

In response to the evolving landscape of digital fraud, Regula says that it has intensively focused on enhancing its techniques aimed at validating document authenticity.

Its advanced authentication method facilitates verification of ID security features, as well as document liveness validation.

Strengthening security

Regula also reports a steady increase in the adoption of its cross-validation checks.

These checks help ensure data integrity by cross-comparing personal details or biometric information provided on an identification document.

Growth rates in this area are equally remarkable, at 156% in the US.

The company’s extensive proprietary database, which includes more than 13,600 document templates from 249 countries and territories and supports over 138 languages, is central to the success of these checks.

Diverse user engagement across platforms

A key feature of Regula’s identity verification solutions is their compatibility across various platforms, allowing for seamless ID verification processes, whether on mobile, web, desktop or passport reading devices.

The company’s hardware and software solutions for digital identity verification serve a worldwide network of more than 1,000 organizations and 80 border control authorities.

“In this fiercely competitive market, it is imperative for all vendors to maintain a razor-sharp focus on delivering unwavering value to their users, ensuring that their services become indispensable components of daily operations,” remarked Henry Patishman, Executive VP of Identity Verification Solutions at Regula.

“Leveraging our deep-rooted expertise in both hardware and software, coupled with our strong and enduring connections within the forensic community, Regula has crafted a unique proposition.

“This combination of cutting-edge technology and forensic expertise allows us to deliver a deeply enriching experience for a wide range of applications to streamline onboarding and prevent identity fraud.

“Consequently, we have witnessed robust user adoption, a testament to our strategic investment in creating solutions that not only meet but exceed the expectations of our users in today’s dynamic environment.”