Cover for the PYMNTS Intelligence and Trulioo January 206 report, When ‘Good Enough’ Isn’t Enough: Digital Identity Verification in the Age of Bots and Agents

Why ‘Good Enough’ Identity Checks Are Costing Financial Firms $34 Billion a Year

When ‘Good Enough’ Isn’t Enough: Digital Identity Verification in the Age of Bots and Agents

Financial institutions are expanding into digital channels, but many are relying on identity systems that were never designed for today’s scale of fraud. The result is a growing gap between confidence and reality, where “good enough” verification quietly erodes growth, trust and revenue. Download “When ‘Good Enough’ Isn’t Enough: Digital Identity Verification in the Age of Bots and Agents,” a collaboration between PYMNTS Intelligence and Trulioo, to learn more.

Inside the January Report

  • Financial services firms generate most of their revenue through digital channels, yet inconsistent KYC and KYB results are creating onboarding delays, customer drop-offs and operational strain.
  • More than three-quarters of firms report missed expansion opportunities, with identity breakdowns contributing to billions of dollars in annual revenue losses across the industry.
  • Most institutions rate their current verification tools as adequate or better, even though firms using more advanced global platforms report smoother verification and fewer long-term challenges.

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