TECH BUYER May 2021 - IDC Innovators - Doc # AP47653921

IDC Innovators: AI-Powered Video-Based Authentication in BFSI in India, 2021

By: Rishu SharmaAssociate Research Director, Swapnil ShendeSenior Market Analyst, Ganesh VasudevanResearch Director, IDC Financial Insights

Abstract

IDC Innovators are emerging vendors with revenue of <US$100 million that have demonstrated either a groundbreaking business model or an innovative new technology — or both. This IDC Innovators study profiles five emerging vendors in artificial intelligence (AI) —powered video-based authentication in banking, financial services, and insurance (BFSI) in India in 2021: HyperVerge, Signzy, Syntizen, WorkApps, and IDfy.

"In the new normal, video know-your-customer (vKYC) is fast becoming the inevitable norm. Besides offering seamless customer experience, by leveraging technology such as AI, biometrics, and optical character recognition (OCR), vKYC is evolving as a better and more secure alternative to traditional KYC for identity verification," said Ganesh Vasudevan, research director, IDC Financial Insights.


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