Regula has experienced remarkable growth, especially in three pivotal markets: the United States, the United Arab Emirates, and Great Britain. These regions contribute to more than 35% of the global user base, with extraordinary growth rates observed: United States – 216%, United Arab Emirates – 321%, and United Kingdom – 95%.
Regula continues to make significant strides in key markets such as the United States, the United Arab Emirates, and Great Britain, where its user base has grown by over 35%. This expansion not only reflects Regula’s increasing prominence but also emphasizes the global trust placed in the company’s secure and reliable identity verification technologies. What sets Regula apart is its commitment to independence, developing all technologies in-house, and providing a single-vendor solution for identity verification.
Regula’s holistic approach combines biometric ((Regula Face SDK) and document (Regula Document Reader SDK) checks with advanced authenticity validation and forensic tools for detailed analysis.
The Rise of Full Authenticity Checks
A recent survey conducted by Regula in early 2023 revealed a surge in identity fraud, with fake or modified physical documents being the most common form of fraudulent activity. Small and medium businesses (SMBs) and enterprises reported substantial incidents, with 64% of businesses experiencing losses exceeding $120,000. To address this, Regula has intensified its focus on enhancing techniques for validating document authenticity.
The processing scenario for advanced authentication methods has seen remarkable growth rates in the United States (367%), the United Arab Emirates (400%), and the United Kingdom (86%).
Strengthening Security with Cross-Validation
Regula reports a steady increase in the adoption of cross-validation checks, providing maximum confidence in the consistency and authenticity of identity document data. Growth rates in this area are equally impressive: United States – 156%, United Arab Emirates – 257%, United Kingdom – 244%.
Regula’s extensive proprietary database, featuring over 13,600 document templates from 249 countries and territories, supports more than 138 languages, forming the backbone of these checks.
Diverse User Engagement Across Platforms
Regula’s identity verification solutions offer compatibility across various platforms, ensuring seamless ID verification processes on mobile, web, desktop, or passport-reading devices. The company’s success is evident through its provision of hardware and software solutions to over 1,000 organizations and 80 border control authorities worldwide.
Prominent organizations, including UBS, FREENOW, WizzAir, AirAsia, the Portuguese Immigration and Border Service, and Pearson VUE, rely on Regula’s solutions to address diverse challenges, from customer onboarding to secure taxi services and facilitate travel document verification.
Henry Patishman, Executive VP of Identity Verification Solutions at Regula, emphasized the company’s commitment to delivering unwavering value. He stated, “Our deep-rooted expertise, coupled with strong connections within the forensic community, allows us to provide cutting-edge technology that exceeds the expectations of users in today’s dynamic environment.”
In this fiercely competitive market, Regula’s unique proposition continues to drive robust user adoption and streamline onboarding processes, ultimately preventing identity fraud.
For more information about Regula and its services, please visit Regula’s website.
About Regula
With our 30+ years of experience in forensic research and the largest library of document templates in the world, we create breakthrough technologies in document and biometric verification. Our hardware and software solutions allow over 1,000 organizations and 80 border control authorities globally to provide top-notch client service without compromising safety, security, or speed.
Regula was named a Representative Vendor in the Gartner® Market Guide for Identity Verification in 2023.