Companies open to implement digital ID technology

As per the Forrester Consulting study ‘The New Imperative: Digital IDs’, nearly 81% of large and enterprise-level companies that operate in sectors such as aviation, banking, government, IT, and telecom, among others, have at least a basic understanding and awareness of this technology, with approximately 50% of them having a throughout knowledge of it. Additionally, several countries and sectors, especially those with advanced digital infrastructures and regulatory frameworks, and those with high customer online interaction frequencies already took the necessary steps to adopt digital identity technology.

Furthermore, 42% of organisations globally are actively working on adopting digital ID solutions into their systems, while nearly 31% of them are in the early stages of implementation. Also, 17% of respondents stated that they are currently developing a strategic plan to start this journey. When it comes to regions, Forrester identified the UAE as having higher integration rates, with the majority of businesses having moved to active integration. Countries with stricter policies, like the US and Europe, are more cautious in this regard, with only 37% and 39% of companies declaring to be in the integration phase.

Forrester concluded that, based on the survey, the complexities and disparities of global implementation across several landscapes underlined the strategic necessity of adopting a hybrid approach to digital IDs. The company highlighted that considering the high number of companies at the stage of active implementation, regulators need to provide frameworks and guidelines that can foster interoperability, security, and privacy across different digital ID systems.