The $95B Wake-Up Call: ‘Good Enough’ Digital Identity Is Costing Firms Growth
The Hidden Costs of ‘Good Enough’: Identity Verification in the Age of Bots and Agents
Companies think their identity systems are working—until the numbers prove otherwise. “The Hidden Costs of ‘Good Enough’: Identity Verification in the Age of Bots and Agents,” a PYMNTS Intelligence and Trulioo collaboration, reveals how “good enough” identity verification quietly drains $95 billion in revenue due to fraud and missed opportunities each year. In the age of bots and agents, complacency isn’t just risky—it’s expensive.
Inside the October Study
- Gaps in identity verification silently drain 3.1% of annual revenue, creating a hidden tax that limits expansion and erodes customer trust across markets.
- Ninety-six percent of firms remain confident in their bot defenses even as nearly 60% report rising bot-driven fraud. This overconfidence masks systemic weaknesses.
- Companies using global identity platforms achieve lower false positives, faster onboarding, stronger compliance and a measurable edge in operational performance.