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E-KYC Market by End User (Banks, Financial Institutions, E-Payment Service Providers, Telecom Companies, Government Entities, and Insurance Companies): France Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2026

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E-KYC Market

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Industry Insights

[180+ Pages Report] France E-KYC Market to grow from USD 12.12 million in 2019 to reach USD 48.38 million by 2026, growing at a CAGR of 21.7% between 2020 and 2026.

The report analyzes and forecasts the E-KYC market on a regional level. The study offers past data of 2016 to 2018 along with a forecast from 2020 to 2026 based on revenue (USD Million). Assessment of E-KYC market dynamics gives a brief thought about the drivers and restraints for the E-KYC market along with the impact they have on the demand over the years to come. Additionally, the report also includes the study of opportunities available in the E-KYC market on a regional level.

The report gives a transparent view of the E-KYC market. We have included a detailed competitive scenario and portfolio of leading vendors operative in the E-KYC market. To understand the competitive landscape in the e-KYC market, an analysis of Porter’s Five Forces model for the E-KYC market has also been included. The report also covers patent analysis with bifurcation into patent trends, patents by company, and patents by region.  The study encompasses a market attractiveness analysis, wherein end-user industry and regional segments are benchmarked based on their market size, growth rate, and general attractiveness.

The study provides a crucial view on the E-KYC by segmenting the market based on end-user industry and region. All the segments of the E-KYC market have been analyzed based on present and future trends and the market is estimated from 2020 to 2026. Based on end-user, France E-KYC market is bifurcated into banks, financial institutions, e-payment service providers, telecom companies, government entities, and insurance companies.

The competitive profiling of noticeable players of France E-KYC market includes company and financial overview, business strategies adopted by them, their recent developments, and product offered by them which can help in assessing competition in the market. Noticeable players included in the report are IDnow GmbH, Pegasystems Inc., Mitek, Tata Consultancy Services (TCS), Wipro Technologies, Trulioo, Chekk, W2 Global Data Solutions Limited, GB Group, and Onfido amongst others.

logoThe report segment of France E-KYC market as follows:

logoFrance E-KYC Market: End-User Segment Analysis

  • Banks
  • Financial Institutions
  • E-Payment Service Providers
  • Telecom Companies
  • Government Entities
  • Insurance Companies
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Covid-19

E-KYC Market

The pandemic continues to cause unprecedented disruption across industries worldwide.Get detailed insights regarding the impact of COVID-19 on the market. Request Sample

Table of Content

  1. Chapter 1 Preface
    1. 1.1 Report Description
  2. 1.2 Report Scope
  3. Chapter 2 Research Methodology
    1. 2.1 Research Methodology
  4. 2.2 Secondary Research
  5. 2.3 Primary Research
  6. 2.4 Models
    1. 2.4.1 Company Share Analysis Model
    2. 2.4.2 Revenue Based Modeling
  7. 2.5 Research Limitations
  8. Chapter 3 Executive Summary
    1. 3.1 France e-KYC Market, 2016 – 2026 (USD Million)
  9. 3.2 France e-KYC Market: Snapshot
  10. Chapter 4 e-KYC Market – Industry Analysis
    1. 4.1 Introduction
  11. 4.2 Market Drivers
    1. 4.2.1 Minimizes the Identity Fraud Risk
    2. 4.2.2 Rise in Number Of Smartphone Users
  12. 4.3 Restraints
    1. 4.3.1 Lack of Standardization in Methods for Collecting Information From Clients
  13. 4.4 Opportunities
    1. 4.4.1 Rise in Cloud Computing
  14. 4.5 Porter’s Five Forces Analysis
  15. Chapter 5 Investment Proposition Analysis
    1. 5.1 France e-KYC Market Attractiveness, By End User
  16. Chapter 6 Competitive Landscape
    1. 6.1 Company Market Share Analysis
    2. 6.1.1 France e-KYC Market: Company Market Share, 2019
  17. 6.2 Strategic Developments
  18. Chapter 7 e-KYC Market – End User Segment Analysis
    1. 7.1 France e-KYC Market Overview: by End User
    2. 7.1.1 France e-KYC Market Revenue Share, by End User, 2019 & 2026
  19. 7.2 Banks
    1. 7.2.1 France e-KYC Market for Banks, Revenue (USD Million) 2016 – 2026
  20. 7.3 Financial Institutions
    1. 7.3.1 France e-KYC Market for Financial Institutions, Revenue (USD Million) 2016 – 2026
  21. 7.4 E-Payment Service Providers
    1. 7.4.1 France e-KYC Market for E-Payment Service Providers, Revenue (USD Million) 2016 – 2026
  22. 7.5 Telecom Companies
    1. 7.5.1 France e-KYC Market for Telecom Companies, Revenue (USD Million) 2016 – 2026
  23. 7.6 Government Entities
    1. 7.6.1 France e-KYC Market for Government Entities, Revenue (USD Million) 2016 – 2026
  24. 7.7 Insurance Companies
    1. 7.7.1 France e-KYC Market for Insurance Companies, Revenue (USD Million) 2016 – 2026
  25. Chapter 8 Company Profiles
    1. 8.1 IDnow GmbH
    2. 8.1.1 Company Overview
    3. 8.1.2 Financial Overview
    4. 8.1.3 Product Portfolio
    5. 8.1.4 Business Strategy
    6. 8.1.5 Recent Developments
  26. 8.2 Pegasystems Inc.
  27. 8.3 Mitek
  28. 8.4 Tata Consultancy Services (TCS)
  29. 8.5 Wipro Technologies
  30. 8.6 Trulioo
  31. 8.7 Chekk
  32. 8.8 W2 France Data Solutions Limited
  33. 8.9 GB Group
  34. 8.1 Onfido

List of Figures

FIG. 1	France e-KYC Market Revenue, 2016 – 2026 (USD Million)		
FIG. 2	Porter’s Five Forces Analysis for France e-KYC Market		
FIG. 3	France e-KYC Market Attractiveness, By End User		
FIG. 4	Company Share Analysis, 2019		
FIG. 5	France e-KYC Market Revenue Share, by End User, 2019 & 2026		
FIG. 6	France e-KYC Market for Banks, Revenue (USD Million) 2016 – 2026		
FIG. 7	France e-KYC Market for Financial Institutions, Revenue (USD Million) 2016 – 2026		
FIG. 8	France e-KYC Market for E-Payment Service Providers, Revenue (USD Million) 2016 – 2026		
FIG. 9	France e-KYC Market for Telecom Companies, Revenue (USD Million) 2016 – 2026		
FIG. 10	France e-KYC Market for Government Entities, Revenue (USD Million) 2016 – 2026		
FIG. 11	France e-KYC Market for Insurance Companies, Revenue (USD Million) 2016 – 2026		
FIG. 12	IDnow GmbH Business Segment Revenue Share, 2019 (%)		
FIG. 13	IDnow GmbH Geographical Segment Revenue Share, 2019 (%)		
Fig  14	Pegasystems Inc. Business Segment Revenue Share, 2019 (%)		
FIG. 15	Pegasystems Inc. Geographical Segment Revenue Share, 2019 (%)		
FIG. 16	Mitek Business Segment Revenue Share, 2019 (%)		
FIG. 17	Mitek Geographical Segment Revenue Share, 2019 (%)		
FIG. 18	Tata Consultancy Services (TCS) Business Segment Revenue Share, 2019 (%) Geographical Segment Revenue Share, 2019 (%)		
FIG. 19	Tata Consultancy Services (TCS) Geographical Segment Revenue Share, 2019 (%)		
FIG. 20	Wipro Technologies Business Segment Revenue Share, 2019 (%)		
FIG. 21	Wipro Technologies Geographical Segment Revenue Share, 2019 (%)		
FIG. 22	Trulioo Business Segment Revenue Share, 2019 (%)		
FIG. 23	Trulioo Geographical Segment Revenue Share, 2019 (%)		
FIG. 24	Chekk Business Segment Revenue Share, 2019 (%)		
FIG. 25	Chekk Geographical Segment Revenue Share, 2019 (%)		
FIG. 26	W2 Global Data Solutions Limited Business Segment Revenue Share, 2019 (%)		
FIG. 27	W2 Global Data Solutions Limited Geographical Segment Revenue Share, 2019 (%)		
FIG. 28	GB Group Business Segment Revenue Share, 2019 (%)		
FIG. 19	GB Group Geographical Segment Revenue Share, 2019 (%)		
FIG. 20	Onfido Business Segment Revenue Share, 2019 (%)		
FIG. 21	Onfido Geographical Segment Revenue Share, 2019 (%)

List of Tables

TABLE 1	France e-KYC Market: Snapshot
TABLE 2	Drivers of the e-KYC Market: Impact Analysis
TABLE 3	Restraints for the e-KYC Market: Impact Analysis

Covid-19

E-KYC Market

The pandemic continues to cause unprecedented disruption across industries worldwide.Get detailed insights regarding the impact of COVID-19 on the market. Request Sample

KYC is 'Know Your Customer' is the procedure of authenticating a customer’s identity. The purpose of the KYC guidelines is to prevent criminal elements of money laundering activities such as identity theft and financial fraud. It is mandated to do KYC validation while opening bank accounts, pay over a certain amount, and buy and sell many investments. This paper-based process of ‘know your customer’ was costly on businesses operating in the financial industry, especially smaller financial institutions where compliance costs are inexplicably heavy. With the introduction of the eKYC, electronic and online KYC process, the verification process needed weeks for completion has been achieved in some seconds. This is a remote, paperless process that minimized the costs and traditional bureaucracy required for KYC.

The increase in the number of smartphone users and along with the rise in digitization among financial sectors has fueled the market growth in recent years. Moreover, increasing cloud adoption is expected to create new opportunities for the eKYC market in France. Cloud computing can help banks in transforming business processes and enhance their ability to grow in new sectors or regions. With cloud computing, banks can have much better able to provide consistent service to customers across branches and geographies. Further, governments are also aiming to digitize all of their administrative processes and are focusing on securing digital identity processes and facilitate people's access to digital services. This has influenced companies to enter the French eKYC market. However, security issues regarding the storage of data are expected to hamper the eKYC market in France.

In terms of end-user, the bank's segment dominated the France e-KYC market, accounting for a market share of 34.56% in 2019. The use of e-KYC by banks has grown as there has been an increase in the number of online banking users and a rise in the market penetration rate in France. The continuous increase in the number of online as well as mobile banking users led to the creation of a new model for banks, including digital banking companies. Online or digital banks offer various services apart from traditional banks. These services are accessible via smartphones. Digital banks offer easy access and communication with bank-like online messaging services, etc. Such trends have driven the rise of digital banks in France. Some of the main reason for the use of digital banks is checking account balance, transferring money between accounts, making online payments, paying bills, etc. Such features of digital banks are attracting users of all ages. An increase in the number of users has driven the need for digital verification and identification services and this trend has been driving the e-KYC market in France. Moreover, based on end-users, the e-payment service providers segment is anticipated to grow at the highest pace over the forecasted period, registering a CAGR of 23.1%. Online or e-payment service providers are third-party companies that aid business owners in accepting a wide range of online payment methods, like online banking, debit cards, credit cards, cash cards, e-wallets, etc. Such companies use KYC for the merchant onboarding process. Companies have their own KYC policies. With advancements in technology, there has been a significant change in the payment industry in France as well as around the world. As the number of mobile payment users has increased rapidly in recent years, the need for threat detection during the customer account opening process has also increased. This has driven the need for KYC procedures while the customer onboarding process, which is driving the need for e-KYC services among e-payment service providers. Further, the number of e-money purchase transactions in France has increased significantly in the last decade. In 2009, the number of e-money purchase transactions was nearly 36 Million in France and the number has reached a value of approximately 62 Million in 2019. Thereby, certain trends boost the adoption of e-KYC services among e-payment service providers and are expected to maintain the same market during the analysis period.

Some of the key players in the France e-KYC market are IDnow GmbH, Pegasystems Inc., Mitek, Tata Consultancy Services (TCS), Wipro Technologies, Trulioo, Chekk, W2 Global Data Solutions Limited, GB Group, and Onfido amongst others.

logoFrance E-KYC Market Revenue, 2016-2026 (USD Million)

logoE KYC Market.

Covid-19

E-KYC Market

The pandemic continues to cause unprecedented disruption across industries worldwide.Get detailed insights regarding the impact of COVID-19 on the market. Request Sample

Industry Major Market Players

  • IDnow GmbH
  • Pegasystems Inc.
  • Mitek
  • Tata Consultancy Services (TCS)
  • Wipro Technologies
  • Trulioo
  • Chekk
  • W2 Global Data Solutions Limited
  • GB Group
  • Onfido 

Frequently Asked Questions

Strict enforcement of laws by government authorities mandating E-KYC Market.
According to Facts and Factors research report, the global E-KYC Market accrued earnings worth approximately XX (USD Billion) in 2020 and is predicted to gain revenue of about XX(USD Billion) by 2028, is set to record a CAGR of nearly XX% over the period from 2021 to 2028.
North America will contribute lucratively towards the global market value over the estimated timeline. The regional market surge is subject to large-scale presence of giant participants in countries such as the U.S. Apart from this, favorable compensation policies along with high acceptance of new E-KYC Market will drive regional market trends. With regional governments enforcing strict laws pertaining to drug abuse, the market for E-KYC Market in North America is set to witness exponential growth over years to come. Legalization of cannabis in countries such as Canada and U.S. through passing of acts in parliament is likely to enlarge scope of E-KYC Market in North America over coming decade.
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