A Phone Number-First Approach
Mobile phone growth is driving demand for access to mobile identity data; there is a strong market outlook for major Telco/CPaaS players as consumers increasingly access digital services through their phone
The phone number is the perfect identifier hence mobile identity is so critical for the future of our Digital Economy. It has 2 lives, one off-line and one online, it’s the only attributes having such characteristic at global scale.
Key Features
Security: Can provide users insights and behavioral data about fraud
Convenience: A phone number is an easy and convenient way for a user to verify their identity, especially when compared to other methods such as the traditional login/password.
Universality: Phone numbers are widely used and recognized, making them a relatively universal means of identification.
Ease of use: It is easy for users to remember their phone number, as it is something they use on a regular basis.
Market Dynamics
Since 2015, 1 billion people have gained access to the internet through a mobile phone. This growth has spurred a shift in user behavior as website traffic from mobile devices has grown from 31.2% in 2015 to 54.8% in 2021.
A mobile-first consumer base drives the growing market demand. For example, global digital banking users is expected to exceed 3.6B by 2024, up from 2.4B in 2021, and revenue from sharing economy is expected to reach $335B by 2025.
With an increase in mobile phone adoption to access digital services, the mobile identity segment is poised for growth. And the Phone Number is becoming the #1 identifier