~ Adopted by Leading Industry Players, with 66% Share in Banking and 96% in Telecommunications ~
TOKYO, April 24, 2025 /PRNewswire/ — Liquid Inc., a member of the ELEMENTS Group, is pleased to announce that “LIQUID eKYC,” has achieved the No.1 market share for the sixth consecutive year in vendor revenue share within the eKYC market. This recognition comes from the market research report “ITR Market View: Identity & Access Management / Personal Authentication Security Market 2025” published by ITR Corporation (Head Office: Shinjuku-ku, Tokyo; President: Motohiro Miura).
Background
Since 2019, the ELEMENTS Group has been offering the online identity verification service “LIQUID eKYC” as one of its personal authentication solutions. The service supports a variety of verification methods, including capturing images of identification documents such as driver’s licenses and My Number cards, reading data from IC chips, and matching them with a selfie, as well as utilizing public personal authentication methods (JPKI / smartphone JPKI). These capabilities have enabled the company to meet identity verification needs across a wide range of industries. In March 2025, ELEMENTS Group acquired Polarify as a subsidiary and now also provides the “Polarify eKYC” service, which, like “LIQUID eKYC,” enables online identity (and background) verification.
About Market Share
No.1 Market Share for 6 Consecutive Years※, with Approximately 130 Million Cumulative Identity Verifications and Around 600 Client Companies
Our online identity verification service, LIQUID eKYC, has been increasingly adopted across various industries due to its low user drop-off rate enabled by highly accurate facial recognition and image processing technologies, along with its advanced IC solutions designed to anticipate future legal and regulatory changes. As a result, it has maintained the No.1 market share for six consecutive years. ※
Including Polarify eKYC, the ELEMENTS Group has achieved approximately 130 million cumulative identity verification transactions and has contracts with about 600 companies in total.
By Industry: 66% Share in Banking and 96% in Telecommunications (According to Our Research)
In the banking sector, 66% of banks that have implemented eKYC have adopted the ELEMENTS Group’s online identity verification services. In the telecommunications sector, 3 out of the 4 major mobile carriers in Japan are using our solutions, representing a 96% share based on the number of contracts. This demonstrates the strong trust we have earned in industries where identity verification is mandated by laws such as the Act on Prevention of Transfer of Criminal Proceeds and the Act on Prevention of Improper Use of Mobile Phones.
About LIQUID eKYC: No.1 Market Share for Six Consecutive Years※
The service provides online completion of identity verification required for online contracts, account registration, and account opening. We offer a method that takes a picture of an identification document or reads an IC chip and matches it with selfies, as well as a method that utilizes public personal authentication (JPKI / Smartphone JPKI). We can also support age verification for student discounts. Our proprietary AI, biometric, and OCR technologies have enabled us to maintain a low drop-off rate from the start to the end of the photo shooting process. As a result, the ELEMENTS Group has achieved a cumulative total of approximately 130 million identity verifications, with around 600 companies having adopted our services.
Website: https://liquidinc.asia/global/kyc-application/
※ITR “ITR Market View: Identity Access Management / Personal Authentication Type Security Market 2025 eKYC Market: Sales Value Share by Vendor (FY2019-FY2024Forecast)
About Liquid Inc.
Liquid aims to create a seamless world where all of the world’s approximately 8 billion people can easily and safely use all services as they are, by automatic and ubiquitous authentication. We provide our own Digital ID, KYC, and Authentication service, where users can prove their identity anytime, anywhere in the world with their smartphone or face. We are expanding our service globally and use the know-how accumulated under the strict Japanese laws and rules. We adapt our operations and services flexibly and quickly to changes in the required legal and security framework.
For more information, visit: https://liquidinc.asia/global/
