January 27, 2021 6:55 am

Contactless verification and remote onboarding gain momentum in India

Must Read

With technology taking a center stage amid Covid-19 pandemic, the spotlight is now on digital products and systems to build the equal level of trust that physical interaction with clients, customers and employees provide, said a newly published report from identity and background verification firm.

“Businesses across the world are forced to take some tough calls today. The emphasis is on spending every penny on a constructive and trustworthy partnership – be it with employees, vendors, merchants, leaders, or customers. The twin objective – of meticulously authenticating these stakeholders before forming or continuing a relationship and doing so within the confines of social distancing – is generating a ferocious demand for innovative on boarding and verification products,” said AuthBridge’s CEO and founder Ajay Trehan. 

Here are the top five trends for digital trust platforms.

1) The sector

This sector has witnessed a 26% increase in user visits between April 2019 to March 2020.With remote education becoming the norm, EdTech will need ways to register attendance of students digitally and validate identity and educational qualifications of teachers on their platforms.

2) The

Companies will be battling labor shortagesin food delivery businesses and home, and rental services domain.

3) The BFSI sector

As per an estimate of Bain Consulting, retail banks can see a 20% increase in revenue and a 30% cut in costs through digitization and technology adoption.

4) Real Money Gaming

This sector was already on a rise before the pandemic hit the world;under a national lockdown, it has only grown further. This is being attributed to people having more leisure time in hand. The online gaming sector is expected to reach $1.1billion by the next year.

5) The sector

One of the most stressed sectors today, will need advanced authentication technologies as e-pharmacies, positioned to grow 7 times to $3.7 billion by 2022, pick pace in the post-COVID era.It will become essential to vet suppliers, vendors, and pharmacists to ensure the quality of medicine and medical products.

Subscribe to receive the day's headlines from Tech Observer straight in your inbox

Share your views

*The moderation of comments is automated and not cleared manually by techobserver.in. Embedding of any link and use of abusive or unparliamentary language are prohibited.
- Advertisement -

Latest in TECH

‘Ensuring robust cybersecurity is an ecosystem effort’

Tech Observer magazine association with American virtual infrastructure giant VMware organised a special webinar focused on Security Operations Center to create awareness and promote modern technology for strengthening cybersecurity.

Related Articles