#Identity Verification Market share

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Identity Verification Market - Forecast(2024 - 2030)

Identity Verification Market Overview

The Identity Verification Market size was estimated at USD 9.87 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 16.7% from 2024 to 2030. The surge in biometric authentication adoption signifies a pivotal shift in identity verification practices, driven by notable advancements in biometric technology and mounting apprehensions surrounding identity theft and fraudulent activities. Organizations across various sectors are increasingly turning to biometric authentication methods, leveraging innovative techniques such as fingerprint scanning, facial recognition, iris scanning, and voice recognition to bolster their identity verification protocols These biometric modalities offer heightened security measures by providing unique biological identifiers that are difficult to replicate or manipulate, enhancing the accuracy and reliability of identity verification processes The emergence of AI and machine learning within identity verification systems represents a significant evolution in authentication methods. AI and ML algorithms are now being seamlessly integrated into these systems, revolutionizing the landscape of identity verification. By harnessing vast datasets, these technologies have the capacity to meticulously analyze patterns, detect anomalies, and refine decision-making processes continuously. This amalgamation of AI and ML not only enhances the accuracy and efficiency of identity verification but also offers a proactive approach to addressing emerging threats and evolving fraud tactics. As a result, organizations are increasingly turning to these advanced technologies to fortify their security measures while simultaneously streamlining verification processes. 

Report Coverage

The report: “Identity Verification Market – Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of Identity Verification Market. 

By Solution: Digital Identity Verification, ID Verification, Identity Authentication, Document Verification, AML Screening and Monitoring, Business Verification, Others

By Type: Hardware, Software, Services

By Verification Type: Knowledge based Authentication, SMS Based Two Factor Authentication, Credit Bureau Based Solutions, Database Solutions, AL/ML Based Authentication, Biometrics Authentication, Others

By Deployment: Cloud, On-premise

By Organization Size: Small & Medium Enterprise, Large Enterprise

By End-User: BFSI, Government and Defence, Retail, Healthcare, IT & Telecom, Entertainment and Gaming, Transportation and Mobility, Energy & Utilities, Hospitality, Others

By Geography: North America, South America, Europe, APAC, RoW

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Key Takeaways

Surge in number of cyber-crimes and stringent regulation relevant to data protection and identity theft are the major factors propelling the growth of identity verification market during the forecast period. 

Digital identification has the potential to multiply future economic value across multiple regions. Digital identity schemes play a vital role in the development of innovative products and solutions, as well as in drastically lowering operational costs for relying parties.

With technological improvements, there has been an increase in the risks of data privacy, fraud prevention, and security. The telecommunications industry is directly or indirectly linked to a variety of critical services, including national security, health, finance, and others. The market is being propelled by the adoption of identity verification in this industry.

As a result of its early acceptance of new technologies, Asia Pacific is predicted to contribute to the fastest-growing region with the greatest CAGR during the projection period.

Identity Verification Market Segment Analysis - By Solution

By solution, the identification verification market is segmented into Digital Identity Verification, ID Verification, Identity Authentication, Document Verification, AML Screening and Monitoring, Business Verification, Others. Among them, the Digital identity verification segment is expected to grow at a highest CAGR 17.20% over the forecast period. The rise of digital identity verification has become a focal point for both private enterprises and government entities, particularly as they increasingly rely on digital platforms for service delivery and border management. This shift underscores the growing importance of robust and efficient identity verification mechanisms within today's digital landscape. Smart border control initiatives, leveraging technologies like facial recognition, electronic ID cards (e-ID), and video analytics, are gaining traction worldwide, facilitating secure identity authentication and verification processes. 

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Identity Verification Market Segment Analysis - By End-User  

By end-user, the identification verification market is segmented into BFSI, Government and Defence, Retail, Healthcare, IT & Telecom, Entertainment and Gaming, Transportation and Mobility, Energy & Utilities, Hospitality, Others. Out of which, IT & Telecom is projected to grow during the forecast period at the highest CAGR 16.42%. With increase in advancements in technology, there has been increasing risks of data privacy, fraud protection and security. Telecommunication sector is directly or indirectly associated with several essential services such as national security, health, finance, and others. Adoption of identity verification in this sector propels the market. Criminals often use fabricated identities to secure telecom services. Telecom fraud involves identity theft or the use of fabricated identities during onboarding. This has resulted in adoption of identity verification in IT & telecom sector. According to GSMA (Global System for Mobile Communications), since early 2020, the governments in 155 countries need customers to provide proof of identification before registering for and buying a SIM, which also applies to e-SIMs and related products. This has been driving the identity verification market in telecom sector. 

Identity Verification Market Segment Analysis - By Geography 

APAC is expected to hold a large share of Identity Verification market and is expected to grow at a CAGR 17%. With the early acceptance of new technology, APAC is becoming technologically equipped. Factors such as initiatives taken by the government to combat identity-related fraud, particularly for strengthening eKYC to verify identities, compliance regulations initiated by countries, rising demand for cloud-based identity verification, and rising identity-related cyber-attacks are driving revenue growth in this region. More Asian companies are incorporating real-time liveness detection capabilities into their eKYC systems to ensure the remote user is physically present and to protect against spoofing attempts. As the digital economy expands, multi-factor biometric identity verification and certified liveness detection technologies will adapt to better serve and solve the changing security needs of consumers and businesses. For Instance: India had a tremendous growth in cybercrime registration, ranking fifth overall in terms of DNS hijacks. According to Gemalto, India accounts for 37% of global breaches in terms of compromised or stolen records. With the rising amount of malware and ransomware attacks in the country, it is clear that identity verification solutions will play a crucial role in driving their adoption.

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Identity Verification Market Drivers

Increasing Number of Cyber-Thefts, Money Laundering and Other Malicious Activities:

The escalating prevalence of cyber-thefts, money laundering, and other malicious activities has emerged as a significant market driver for digital identity verification solutions. As digital transactions become increasingly prevalent across various sectors, so too does the risk of fraudulent activities perpetrated by cybercriminals. In response to this growing threat landscape, organizations and financial institutions are prioritizing the implementation of robust identity verification measures to safeguard against unauthorized access and fraudulent transactions. By leveraging these technologies, businesses can mitigate the risk of cyber-attacks, safeguard sensitive data, and protect against financial losses resulting from fraudulent activities. As a result, the demand for digital identity verification solutions continues to surge as organizations strive to fortify their defenses against evolving cybersecurity threats.

Rising Digitalization among Various End User Verticals

Wide–scale penetration of digitalization has brought to light so many identity-related frauds and urged corporations to take stringent steps to protect them. Identity verification has become a critical component due to mandatory verification of individual's identity especially in applications such as border controls and access to digital services. Moreover, enterprises across the world are increasingly spending on the digitization of their businesses, including their payment processes. For Instance: according to a survey by Visa, over 80% of consumers mentioned digital-related benefits as motivating factors to shop. As the digital economy grows, multi-factor biometric identity verification and certified liveness detection technologies are evolving accordingly, to better serve and address the changing security needs of business and consumers.

Identity Verification Market Challenges

Presence of inefficient and costly identity regimes

Online identity authentication is only starting to pick up momentum as a digital service, and there are many versions of the ID concept and how they are checked. The basic idea behind screening identities is relatively clear, but the principle of digital identity authentication has acquired more than one connotation, as online transactions have grown in complexity and volume. Users also find it uncomfortable to include information for screening purposes for various sources and platforms. Basic credentials, such as name, address and official ID number, are often not sufficient to recognise an entity and construct relevant profiles. Therefore, service providers need to behave responsibly to make identity authentication processes more transparent in order to collect relevant data. This is one of the major restraining factors of the identity verification market. In addition, the development and administration costs can be very high for an identity card scheme.

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Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in Identity Verification Market. Identity Verification Market is expected to be dominated by Identity Verification top 10 companies such as GBG, Idemia, Experian, Equifax, Transunion, LexisNexis, Thales Group, Acuant, and many more.

Developments:

 October 2023 - Veriff announced the launch of two new fraud mitigation tools to bolster its IDV protection portfolio. The company's newly released packages employ powerful machine learning models, behavioral insights, and Veriff's in-house fraud detection expertise to improve organizations' capacity to mitigate continually shifting fraud efforts. Veriff analyzes the user's document, face biometrics, device, network, and prior fraud tendencies during the IDV process to provide industry-leading fraud prevention.

[dhirajmarketresearch]

[coinbasetradingguide]

How to Make Money on Coinbase: A Simple Guide

Coinbase is a leading platform for buying, selling, and managing cryptocurrencies like Bitcoin and Ethereum. With millions of users worldwide, it’s a trusted choice for both beginners and experienced traders. Here’s how you can make money using Coinbase.

Why Use Coinbase?

Coinbase offers:

User-friendly interface: Ideal for newcomers.

Top-notch security: Advanced encryption and offline storage keep your assets safe.

Diverse earning methods: From trading to staking, there are plenty of ways to earn.

Ready to get started? Sign up on Coinbase now and explore all the earning opportunities.

Setting Up Your Coinbase Account

Sign up on Coinbase’s website and provide your details.

Verify your email by clicking the link sent to you.

Complete identity verification by uploading a valid ID.

Navigate the dashboard to track your portfolio, view live prices, and access the "Earn" section.

Ways to Make Money on Coinbase

1. Buying and Selling Cryptocurrencies

Start by buying popular cryptocurrencies like Bitcoin and Ethereum at a lower price and selling them when the price goes up. It’s the basic strategy for making profits through trading.

2. Staking for Passive Income

Staking allows you to earn rewards by holding certain cryptocurrencies. Coins like Ethereum and Algorand offer staking options on Coinbase. It’s a straightforward way to earn passive income.

Maximize your earnings—get started with Coinbase today and start staking your crypto.

3. Earning Interest

Coinbase lets you earn interest on some of your crypto holdings. Just hold these assets in your account, and watch your crypto grow over time.

Advanced Trading with Coinbase Pro

For those with more trading experience, Coinbase Pro provides lower fees and advanced trading tools. Learn how to trade efficiently using features like market charts, limit orders, and stop losses to enhance your profits.

Coinbase Earn: Learn and Earn

With Coinbase Earn, you can earn free cryptocurrency by learning about different projects. Watch educational videos and complete quizzes to receive crypto rewards—an easy way to diversify your holdings with no risk.

Coinbase Affiliate Program

Promote Coinbase using their affiliate program. Share your unique referral link (like this one: Earn commissions with Coinbase), and earn a commission when new users sign up and make their first trade. It’s a fantastic opportunity for bloggers, influencers, or anyone with an audience interested in crypto.

Want to boost your income? Join the Coinbase Affiliate Program now and start earning commissions.

Coinbase Referral Program

You can also invite friends to join Coinbase and both of you can earn bonuses when they complete a qualifying purchase. It’s a win-win situation that requires minimal effort.

Conclusion

Coinbase is an excellent platform for making money in the cryptocurrency world, offering various ways to earn through trading, staking, and affiliate marketing. Explore all its features to maximize your earnings.

Ready to dive in? Sign up today and start earning with Coinbase.

[payblogs]

DARK SMS - DRAGON+

In today’s fast-paced digital landscape, maintaining privacy and security while communicating is more important than ever. Introducing DarkSMS, a cutting-edge virtual SMS platform designed to streamline your messaging experience without compromising your personal information. With our innovative virtual number service, users can receive SMS messages securely and anonymously, eliminating the risks associated with sharing private phone numbers. Whether you’re signing up for online services, verifying accounts, or simply looking to keep your communication confidential, DarkSMS has got you covered. 

Virtual SMS

Virtual SMS refers to the messaging service that enables users to send and receive text messages through a virtual phone number rather than a traditional mobile line. This service is particularly useful for individuals and businesses looking to maintain privacy while communicating or verifying accounts.

One of the key advantages of using virtual sms is the ability to receive SMS without revealing your personal phone number. This is especially beneficial for online transactions, sign-ups for apps, or any situation where you might need to provide a phone number but want to protect your privacy.

Furthermore, virtual numbers can be easily managed from a web-based platform, allowing users to organize and store messages effectively. Many service providers offer features such as message forwarding, where received SMS messages can be redirected to your email or other platforms, ensuring you never miss an important notification.

In addition to privacy and convenience, virtual SMS services are often cost-effective. They eliminate the need for extra SIM cards or mobile contracts, allowing users to only pay for the services they actually use. This flexibility makes virtual number services highly attractive for startups and individuals working from remote locations.

As businesses increasingly adopt digital communication strategies, integrating virtual SMS into their operations can enhance customer interaction and improve engagement through instant messaging capabilities.

Virtual Number Service

A virtual number service offers a practical solution for individuals and businesses looking to maintain privacy while receiving communications. By using a virtual number, you can receive SMS messages without exposing your personal phone number. This feature is especially useful for those engaged in online transactions, such as e-commerce, as it safeguards against unwanted spam and protects your identity.

One of the key advantages of a virtual number service is its capability to function seamlessly alongside your primary phone line. Users can receive messages from various platforms effectively, whether it's for verification purposes, two-factor authentication, or simply keeping in touch with clients. The convenience of managing multiple numbers through a single device cannot be overstated.

With options to select numbers from different geographic locations, this service caters to users looking to establish a local presence in different markets. Moreover, these numbers can be set up quickly and easily, providing instant access to receive SMS without lengthy contracts or commitments.

To optimize your experience with virtual SMS and virtual number services, consider features like call forwarding, voicemail, and the ability to choose your own number. Such functionality enhances user experience by offering flexibility in communication while maintaining professional boundaries.

Ultimately, investing in a virtual number service can significantly enhance your business's communication strategy, allowing you to receive SMS reliably while focusing on building relationships with your clients.

Receive SMS

Receiving SMS through a virtual number is a convenient service that allows users to get text messages without needing a physical SIM card. This is particularly beneficial for individuals and businesses looking for privacy or those who wish to avoid exposing their personal phone numbers.

The process is straightforward: once you obtain a virtual number through a reliable virtual number service, you can start receiving sms messages. This service is essential for various reasons, including:

  Account verification codes: Many online platforms use SMS to send verification codes. A virtual number allows you to receive these codes securely.

  Business communications: Companies can use virtual SMS to receive client inquiries or feedback without revealing their primary contact numbers.

  Privacy protection: By receiving SMS through a virtual number, users can protect their personal phone numbers from spam and unwanted solicitation.

Moreover, the get SMS feature of a virtual number service ensures that you don’t miss any important messages, even if you are on the move. Messages are often stored digitally, which means you can access them anytime and anywhere.

In summary, the ability to receive SMS through a virtual number enhances both privacy and accessibility, making it a valuable tool for users in various contexts.

Get SMS

Getting SMS messages through a virtual number service has become increasingly popular due to its convenience and versatility. Whether you need to receive texts for verification purposes or want to maintain privacy while communicating, virtual SMS provides a robust solution.

With a virtual number, you can easily get sms from anywhere in the world without needing a physical SIM card. This feature is particularly beneficial for businesses that require secure communication with clients or customers, as it ensures that sensitive information remains confidential.

Here are some advantages of using a virtual number to get SMS:

Privacy Protection: Using a virtual number helps keep your personal phone number private.

Accessibility: You can receive SMS messages on multiple devices, including tablets and laptops.

Cost-Effective: Virtual SMS services typically come with lower costs than traditional SMS plans.

Global Reach: You can get SMS messages from international numbers without incurring roaming fees.

Easy Setup: Setting up a virtual number to receive SMS is straightforward and often takes just a few minutes.

In summary, leveraging a virtual number service for SMS communication allows you to manage your messages efficiently while maintaining privacy, enhancing accessibility, and reducing costs. This is particularly useful for both personal and business communications, making it a smart choice for anyone looking to streamline their SMS functions.

[arosebyan0thername]

The problem tumblr is facing right now, even aside from all the weird marketing and the increase in ads (by the way, have you seen any emporium posts since that one that went around calling them out for being passive aggressive? Because I haven't), is that they are trying to do what every other social media has been doing for the past 10 years or more: they're trying to have the same features as all the other social medias. The algorithmic "for you" page that everything has now, the livestream feature, even the way they recently updated the video player so that when you slide up on a video, where it used to close the full screen and take you back to your dash, it now scrolls to a completely different video, totally separate from the post you were on, curated by another algorithm. Everything is trying to become tiktok, and now tumblr is following along. Youtube added shorts, facebook and instagram added reels, twitter doesn't have one yet but I fully believe they would have if musk hadn't taken over and gone off the deep end with all the verification stuff instead. They're all chasing the dopamine trap that is tiktok's endless scrolling video feed.

Now idk about you but the reason I enjoy tumblr, the reason I've kept using it for over 10 years, through numerous overhauls and more drama than the average person is meant to experience in a lifetime, is that it's so different. It's completely unique, and it was meant to be. It was designed to be microblogging - whatever that was actually supposed to mean - not social media. More like pinterest than facebook. It's so different, it's so much more about the content that is posted than the people posting it, and that's why it's so much more enjoyable. That's why it's so easy to host fandoms on here, and so easy to share art. There are so many unique features, from the tagging system with its own social conduct rules, to the ask box where you can choose to have a private conversation or completely blast someone's shit everywhere, to even the defunct fanmail system which was literally just there for you to speak to someone with the intention of never getting a reply. I'm not gonna pretend there aren't very many flaws, that there haven't always been, but there are some features that make, and have made, this site a completely different experience from any modern social media. And they're slowly phasing them out in place of the same shitty features you see on every other site, every other app. What's the point? Why make an app that is the same as all the others? How is that going to draw anyone in? Why would I stay here when I can just go use another identical app?

I don't know what the solution is from a user standpoint. I don't know how we can get this across to staff, and I don't think they'll care if they're making money now, because the site never has before. I just wish capitalism didn't do this to everything. I wish I could have something I love stay the same and not be ruined in the pursuit of money.

[darthsuki]

Please see this post from Matt, the current CEO of Automatic who actively runs tumblr, and who seems to be all for bringing back adult content without shooting tumblr in the foot: https://www.tumblr.com/photomatt/696651266548465664/tumblr

TLDR (from Matt’s post)

“If you wanted to start an adult social network in 2022, you’d need to be web-only on iOS and side load on Android, take payment in crypto, have a way to convert crypto to fiat for business operations without being blocked, do a ton of work in age and identity verification and compliance so you don’t go to jail, protect all of that identity information so you don’t dox your users, and make a ton of money.

I estimate you’d need at least $7 million a year for every 1 million daily active users to support server storage and bandwidth (the GIFs and videos shared on Tumblr use a ton of both) in addition to hosting, moderation, compliance, and developer costs.”

It’s not tumblr who are being puritanical Victorians, but the financial and marketing companies that they need to survive as a website and app.

Tumblr, buddy, listen to me. This is an unprecedented opportunity. You can snap up all of the pie here, and become defacto internet goodguy easy. All you gotta do is... drop the nsfw ban. Unambiguously. Announce that dicks are back on the menu. You want people subscribed the blogs? You want people to actually use your Post+ function? Porn. Let us use it for porn. The youngins aren't joining this site anyway, you're not competing with tiktok. The vaguely horny 20-40 demographic though? You can have that. You can have all of that. Think about it.

[athreyaabsetec]

Build Your Freelance Platform: A Guide to Creating an Upwork Clone App

Freelance platforms like Upwork have revolutionized how businesses and freelancers connect. If you're considering creating a platform similar to Upwork, you're entering a growing market of remote work and freelance opportunities. This guide will walk you through building an Upwork clone app, focusing on essential features and bringing your platform to life.

Why Build an Upwork Clone?

With the rise of freelance work, platforms like Upwork are in high demand. Both professionals and companies are looking for flexible work arrangements, making a freelancer clone a valuable tool. Here’s why creating a platform like Upwork is a great business opportunity:

Growing Freelance Market: More professionals are seeking flexible work, and businesses need freelancers for project-based work.

Remote Work Trend: The shift to remote work opens up opportunities to hire freelancers globally.

Revenue Potential: Freelance platforms generate income through commissions, subscription plans, and premium features.

Key Features of an Upwork Clone App

To build a successful freelance marketplace, offering features that benefit both clients and freelancers is essential. Below are the must-have features:

1. User Profiles and Registration

Clients: Should be able to register, post job listings, and search for freelancers.

Freelancers: Need profiles to showcase their skills, work experience, portfolios, and set their rates.

Verification: Verifying user identities and qualifications builds trust on the platform.

2. Job Listings and Search Options

For Clients: Allow clients to post jobs with clear details like project scope, deadlines, and budgets.

For Freelancers: Provide freelancers with search filters to easily find jobs that match their skills, pay expectations, and experience level.

3. Bidding System

Freelancers should be able to submit proposals for jobs, including their rates and approach. Clients can then choose the best freelancer based on proposals, reviews, and profiles.

4. In-App Messaging

Real-time messaging is crucial for smooth communication between freelancers and clients. You should include options for file sharing, voice calls, and possibly video chats to support better collaboration.

5. Secure Payments and Contracts

Payments should be handled securely through the platform, ideally with an escrow system to hold funds until the work is completed. This ensures both clients and freelancers are protected.

Clear contracts with milestones and deadlines help avoid misunderstandings and ensure smooth project management.

6. Ratings and Reviews

After a project is completed, both freelancers and clients should leave ratings and reviews for each other. This feedback system helps build transparency and trust on the platform.

7. Dispute Resolution

A built-in system for resolving conflicts between freelancers and clients is essential. Having a process for mediation ensures that issues are handled fairly and quickly.

8. Subscription and Premium Features

Offer premium features for both clients and freelancers. Freelancers might pay for additional bids or increased visibility, while clients could pay to highlight job postings or access premium freelancers.

How to Build an Upwork Clone

1. Planning and Research

Start by researching the needs of freelancers and clients. Identify gaps in existing freelance platforms and find ways to improve the user experience. This will help you design a platform that stands out.

2. Design the User Interface

A clean, intuitive design is key to attracting users. Focus on creating a simple and user-friendly interface that allows clients and freelancers to navigate the platform easily.

3. Develop Core Features

Begin with developing essential features like user registration, job posting, bidding systems, and secure payments. This ensures that your platform functions smoothly and provides value to both clients and freelancers.

4. Testing and Quality Assurance

Test your platform thoroughly to identify and fix any issues. Make sure the platform works well on different devices, and ensure smooth functionality in critical areas like payments, messaging, and search.

5. Launch and Marketing

Once your platform is ready, launch it with a marketing plan that targets both freelancers and businesses. Focus on building a strong community by offering great features and incentives for early users.

6. Ongoing Maintenance and Updates

Regularly update your platform with new features and improvements based on user feedback. Continuous improvements will help you keep up with the competition and ensure your platform remains relevant.

Revenue Model for an Upwork Clone

There are several ways to generate income from a freelance marketplace. Some popular revenue models include:

Commission Fees: Take a percentage from each project completed on the platform.

Subscription Plans: Offer premium features or additional services through paid subscription plans.

Job Posting Fees: Charge clients for posting jobs or offer the option to feature job listings for a fee.

Advertising: Allow freelancers to advertise their services for more visibility or offer third-party ads on your platform.

Final Thoughts

Building an Upwork clone app can be a profitable venture if executed properly. Focus on creating a platform that offers an excellent user experience for both freelancers and clients. With the right features, a strong marketing plan, and continuous improvements, you can create a freelance marketplace that stands out in the growing gig economy.

[abhijeetmeenarajput]

What is the transmission of shares?

The transmission of shares is a crucial process that investors, especially NRIs, need to understand when dealing with the transfer of ownership of shares due to events such as death or incapacity. This process allows for the transfer of ownership of shares to heirs or legal representatives without the need for a sale transaction. In this article, we will explore the concept of transmission of shares, how it works, and the various considerations for NRIs investing in Indian stock market.

What is the Transmission of Shares?

The transmission of shares refers to the transfer of ownership of shares due to the death or incapacity of the shareholder. It differs from the regular transfer of shares in that it does not involve a sale and purchase agreement but is executed through legal inheritance or assignment to a nominee. NRIs can face unique challenges when transferring shares, but it is an important process to ensure the smooth transition of assets to the rightful heir.

When a shareholder passes away, the legal representative (such as a spouse or child) or the heir may apply to the company for the transmission of shares. This process is typically initiated by submitting the relevant documents, such as a death certificate, will, and proof of relationship to the deceased. The company will then validate the documents and transfer the shares to the new owner.

How Does the Transmission of Shares Work?

Initiating the Process: The transmission of shares is typically initiated by the legal heir or representative of the deceased shareholder. They must contact the registrar of the company or the mutual funds for NRI investment platform holding the shares. The heir needs to provide the necessary documents such as the death certificate, a succession certificate, or a copy of the probate if applicable.

Submission of Documents: Along with the legal documents, the heir may also need to submit the original share certificates (if physical), the transmission request form, and identity proof. This will help the company confirm the identity of the heir and process the transmission in accordance with company regulations.

Verification Process: The company will verify the authenticity of the documents and the legitimacy of the claim. If everything is in order, the company will initiate the transmission of shares in favor of the legal heir or nominee.

Completion of Transmission: After the verification, the shares will be transferred to the name of the new shareholder, who will now have full ownership and rights over the shares. If the shares were in mutual funds for NRI, the equivalent units would be transferred to the NRI’s account.

Key Considerations for NRIs in Transmission of Shares

Taxation Considerations: PMS taxation for NRI and other tax implications related to NRI investment in share market need to be understood. Transmission of shares does not incur capital gains tax, but once the shares are transferred, any sale or transfer of shares will be subject to tax based on the market conditions and holding period. NRIs need to keep track of these taxes to manage their portfolios efficiently.

Nominee vs. Legal Heir: In the case of NRI investment in share market, it is essential to have a nominee registered for the shares. If a nominee is named, the process of transmission of shares becomes simpler as the nominee is the rightful person to inherit the shares. If there is no nominee, legal heirs must go through a more formal process, which could involve submitting additional documents and undergoing a more prolonged verification process.

Documentation for Transmission: As mentioned, proper documentation is vital for NRIs investing in mutual funds or shares in India. These documents may include the death certificate, succession certificate, will, and any other documents that may prove the relationship between the deceased and the heir. NRIs should ensure they have all the required paperwork in order to avoid delays in the transmission process.

Bank Accounts and Securities: The process of transferring shares will also require updating of the respective bank accounts and securities accounts held by the deceased person. The heir will need to apply for the transfer of any related assets such as bank accounts and securities as well.

Transmission of Shares vs. Transfer of Shares

The transmission of shares should not be confused with the transfer of shares. While transmission involves a legal transfer due to death or incapacity, a regular transfer of shares involves a voluntary sale or gift of shares by the owner to another individual. For NRIs, it is essential to understand these distinctions and ensure they are following the correct procedure for each.

What Happens if the Shares Are in Mutual Funds?

If the shares held by the deceased are in the form of mutual funds for NRI units, the transmission process is slightly different. NRIs should inform the fund manager or registrar about the death of the unit holder and submit the required documents. The mutual fund investment by NRI process for transmission may also involve filling out specific forms and undergoing a verification process similar to that of direct shares.

Alternative Investment Options for NRIs

When it comes to investment options, NRIs have several routes to explore beyond shares. Alternate investment funds (AIF) and alternative mutual funds offer diversification and different risk profiles for investors. AIF alternative investment funds are gaining popularity as they provide access to sectors such as real estate, private equity, and hedge funds that are not typically available in traditional markets. NRIs looking to diversify their portfolios can explore these options to maximize returns.

Another growing trend is investing in fixed deposits (FD) in India for NRI, where they can take advantage of NRI fixed deposit rates in India and NRI interest rates in India, which are often higher than those in other countries. For NRIs seeking a more secure, low-risk investment, FD rates in India present an excellent alternative. The highest FD rates in India offer NRIs better returns and are a great way to preserve capital.

Conclusion

The transmission of shares is an important aspect of estate planning for NRIs. It ensures that shares and other financial assets are passed on smoothly to the rightful heirs in the event of death. Understanding the process, tax implications, and necessary documentation can help avoid complications. Additionally, exploring mutual funds for NRI or AIF alternative investment funds can offer NRIs greater diversification and long-term financial stability. Whether you’re interested in investing in mutual funds or investing in the Indian stock market, it’s important to stay informed about the best investment opportunities in India for NRIs.

For more insights on the transmission of shares and other related topics, feel free to visit India For NRI's Investment Page.

[b2bbusiness]

Blockchain Market: Trends, Growth, and Future Prospects

The blockchain market is rapidly evolving, driven by increasing demand for decentralized applications, digital transactions, and secure data management. As industries across finance, healthcare, supply chain, and real estate adopt blockchain technology, its global market is poised for significant expansion. This article explores key trends, growth factors, and future prospects shaping the blockchain industry.

Market Overview

Blockchain technology is a decentralized digital ledger that records transactions across multiple computers securely and transparently. The market is experiencing robust growth due to its applications in cryptocurrency, smart contracts, and secure transactions. According to industry analysts, the blockchain market is expected to grow at a CAGR of over 50% from 2024 to 2030, driven by increasing digital transformation efforts.

Key Growth Drivers

Rising Adoption of Cryptocurrencies

Bitcoin, Ethereum, and other cryptocurrencies continue to gain mainstream acceptance.

Growing institutional investments in digital assets fuel blockchain adoption.

Enterprise Blockchain Solutions

Companies are integrating blockchain for supply chain transparency, fraud prevention, and secure data sharing.

Financial institutions leverage blockchain for cross-border payments and fraud detection.

Government and Regulatory Support

Countries like China and the UAE are investing heavily in blockchain infrastructure.

Governments are exploring blockchain for digital identity verification and secure voting systems.

DeFi (Decentralized Finance) and NFTs (Non-Fungible Tokens)

DeFi platforms use blockchain for lending, borrowing, and yield farming without intermediaries.

The NFT market continues to expand in art, gaming, and digital collectibles.

Industry Applications

Finance & Banking: Secure transactions, smart contracts, and fraud prevention.

Healthcare: Patient data security, interoperability, and drug traceability.

Supply Chain Management: Transparency, real-time tracking, and reduced counterfeiting.

Real Estate: Digital property transactions and automated contract management.

Government: Secure identity management and transparent voting systems.

Future Trends

Integration with AI and IoT

AI-driven smart contracts enhance automation and efficiency.

Blockchain secures IoT devices against cyber threats.

Sustainability Initiatives

Green blockchain solutions, such as Ethereum’s shift to Proof-of-Stake (PoS), reduce energy consumption.

Metaverse and Web3

Blockchain will be integral to the decentralized internet (Web3) and virtual economies within the Metaverse.

Buy the Full Report for Additional Insights on the Blockchain Market Revenue

Download a Free Report Sample

[nayomithakshila]

How to Set Up a Seller Profile on BuyMore.lk

BuyMore.lk has emerged as one of Sri Lanka's leading e-commerce platforms, providing sellers with an opportunity to reach a broad audience of online shoppers. Setting up a seller profile on BuyMore.lk is the first step to showcasing your products and growing your business in the digital marketplace. In this article, we explore the process of creating a seller profile and provide insights into how to make it stand out.

Understanding BuyMore.lk's Seller Ecosystem

Before diving into the steps of setting up a seller profile, it is essential to understand the benefits and opportunities that BuyMore.lk offers. The platform currently boasts over 500,000 active users and handles transactions across diverse product categories, including fashion, electronics, home appliances, and more. Sellers can leverage this vast customer base to increase sales and enhance brand visibility.

Why Choose BuyMore.lk?

Wide Reach: Connect with a growing online audience across Sri Lanka.

Secure Transactions: Benefit from a reliable payment gateway.

Logistics Support: Enjoy integrated delivery options for seamless order fulfillment.

By understanding these advantages, sellers can better align their business goals with the platform’s offerings.

Steps to Create a Seller Profile

Setting up a seller profile on BuyMore.lk is a straightforward process designed to be user-friendly. Here’s how you can get started:

1. Visit the Seller Registration Page

To begin, navigate to the BuyMore.lk Seller Center and locate the registration page. Here, you will find an online form that requires basic business and personal details.

Basic Details: Provide your full name, email address, and phone number.

Business Details: If you are a registered business, include your company name and registration number.

2. Verify Your Account

Once the registration form is completed, BuyMore.lk will send a verification email to confirm your identity. This step is crucial for maintaining the platform’s security standards and ensuring only legitimate sellers join the marketplace.

3. Upload Necessary Documentation

To activate your seller profile, you’ll need to upload scanned copies of required documents. These typically include:

National ID or Passport

Business Registration Certificate (if applicable)

Bank Account Details

Uploading accurate documents ensures faster approval and avoids delays.

4. Customize Your Seller Profile

Your seller profile is the face of your business on BuyMore.lk. Spend time personalizing it by:

Adding a Business Logo: A professional logo creates a trustworthy image.

Writing an Engaging Description: Share your brand story and highlight your unique selling points.

Selecting Product Categories: Choose categories that best match the items you plan to sell.

5. List Your Products

Once your profile is live, the next step is to list your products. Use high-quality images and detailed descriptions to attract buyers. Ensure your pricing is competitive and include any promotional offers to gain initial traction.

Tips for Optimizing Your Seller Profile

Creating a seller profile is just the beginning. To make the most of BuyMore.lk, consider the following tips:

Build Trust with Customers

Respond promptly to customer inquiries.

Maintain a high order fulfillment rate.

Encourage buyers to leave positive reviews.

Utilize Analytics

BuyMore.lk provides sellers with insights into their performance. Use these analytics to identify popular products, optimize pricing strategies, and improve overall efficiency.

Leverage Marketing Tools

The platform offers promotional tools such as sponsored listings and discount campaigns. These features can help you stand out in a competitive marketplace.

Setting up a seller profile on BuyMore.lk is a crucial step for entrepreneurs looking to tap into Sri Lanka’s expanding e-commerce market. By following the outlined steps and implementing optimization strategies, you can build a strong presence and achieve sustainable growth. Whether you're a small business owner or a seasoned retailer, BuyMore.lk provides the tools and audience to help you succeed.

[industrynewsupdates]

Fintech As A Service Market Size, Share And Trends Analysis Report

The global fintech as a service market size is expected to reach USD 949.49 billion by 2030, growing at a CAGR of 17.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. The increasing adoption of financial technology-based solutions and platforms globally is anticipated to drive the growth of the market. The increasing adoption of cloud-based software, artificial intelligence, and big data integrated with financial services is expected to drive the growth of the market for Fintech-as-a-Service.

In May 2023, Finastra, a global provider of financial software applications and platforms, joined forces with BKN301 Group, a fintech company committed to removing financial obstacles. This collaboration aims to address financial barriers in rapidly expanding markets. The goal is to introduce inventive solutions that foster economic development, facilitating mutual opportunities between these markets and those in the Western regions.

The investments made in financial technology companies are estimated to generate opportunities for market growth over the forecast period. For instance, in July 2021, an API developer, Railsbank Technology Ltd, raised USD 70 million in a fundraising event headed by Anthos Capital, a U.S.-based investment company. The allocated funds will be utilized to advance the company's Fintech-as-a-service platform and offer customers a range of solutions for product development.

The outbreak of the COVID-19 pandemic is expected to play a crucial role in driving the growth of the Fintech-as-a-Service platform market over the forecast period. The increasing demand for digital financial services increased drastically during the pandemic. Banks and financial institutions were looking at innovative ways to provide their services online during the pandemic which bolstered the growth of the market.

Gather more insights about the market drivers, restrains and growth of the Fintech As A Service Market

Fintech As A Service Market Report Highlights

• The fund transfer segment is expected to witness the fastest growth over the forecast period. The fund transfer applications and software being introduced such as Meta Pay by some of the major companies worldwide are expected to drive the growth of the segment

• The artificial intelligence segment is anticipated to witness significant growth over the projected period. Artificial intelligence is experiencing rapid growth due to its ability to automate and optimize financial processes, enhance customer experiences, and provide data-driven insights for better decision-making.

• The KYC verification segment is expected to witness the fastest growth over the forecast period The rising fraudulent activities such as ransomware, and identity theft among others across the globe is one of the major factors that propelled the market growth in 2021.

• The insurance segment is expected to witness the fastest growth over the forecast period. Keeping consumers' changing preferences in mind, insurers are offering flexible-term products and are customizing their offerings according to customer needs. With this changing trend, insurers are adopting Fintech-as-a-Service platforms which is driving the market’s growth

• The Asia Pacific regional market is expected to witness the fastest growth over the forecast period. The growing demand for technology-based payment platforms across the region is expected to play a decisive role in driving the growth of the regional market

Fintech As A Service Market Segmentation

Grand View Research has segmented the global fintech as a service market based on type, technology, application, end-use, and region:

Fintech As A Service Type Outlook (Revenue, USD Billion, 2017 - 2030)

• Payment

• Fund Transfer

• Loan

• Others

Fintech As A Service Technology Outlook (Revenue, USD Billion, 2017 - 2030)

• API

• Artificial Intelligence

• RPA

• Blockchain

• Others

Fintech As A Service Application Outlook (Revenue, USD Billion, 2017 - 2030)

• KYC Verification

• Fraud Monitoring

• Compliance & Regulatory Support

• Others

Fintech As A Service End-use Outlook (Revenue, USD Billion, 2017 - 2030)

• Banks

• Financial Lending Companies

• Insurance

• Others

Fintech As A Service Regional Outlook (Revenue, USD Billion, 2017 - 2030)

• North America

o U.S.

o Canada

• Europe

o Germany

o UK

o France

• Asia Pacific

o China

o India

o Japan

o South Korea

o Australia

• Latin America

o Brazil

o Mexico

• Middle East & Africa (MEA)

o Kingdom of Saudi Arabia (KSA)

o UAE

o South Africa

Order a free sample PDF of the Fintech As A Service Market Intelligence Study, published by Grand View Research.

[webee-systems]

How to Set Up LinkedIn: A Step-by-Step Guide

In the present digital environment, LinkedIn has become a vital tool for professionals to connect with one another, share knowledge, and further their careers. Whether one is a young graduate, seasoned professional, or entrepreneur, everyone absolutely needs a LinkedIn presence. If you have been wondering how to set up LinkedIn profile, you have come to the right place. Let’s go through the phases to create a profile that’s really amazing.

9 Contanious Steps That Explain How To Set Up LinkedIn Profile

1. Create Your LinkedIn Account

The very first thing you need in order to get started with LinkedIn is to create an account. Here’s few steps in the following you need to start with:

Open LinkedIn: Visit www.linkedin.com

To sign up: After selecting the “Join now” button, just provide your basic information, name, email address, and a strong password.

Check Your Email: LinkedIn will send you a verification email with the aim of confirming your identity. Once your profile has been confirmed, you will be ready to start using it.

2. Complete Your Basic Profile Information

After signing up, the next step is filling out your profile basics:

Upload a professional photo: Profiles with photos receive up to 21 times more views.

Add a compelling headline: Your headline should highlight your role, expertise, or career goals. For instance, “Digital Marketing Specialist | Helping Businesses Grow Online” works better than just “Marketing Specialist.”

Fill in your location and industry: This helps recruiters and connections find you easily.

3. Write a Powerful About Section

The “About” section is your elevator pitch. Use this space to tell your story, showcase your skills, and highlight your career aspirations. Make it engaging yet professional. Include keywords relevant to your industry, but avoid overloading with jargon.

4. Add Your Experience and Education

When figuring out how to set up LinkedIn, adding your professional history is crucial. Be sure to:

List all relevant jobs: Include roles, companies, and achievements.

Use bullet points: Clearly highlight responsibilities and accomplishments. For example:

Increased website traffic by 35% through targeted SEO strategies.

Managed a $50,000 annual ad budget with 20% ROI improvement.

Include your education: Mention degrees, certifications, and relevant training programs.

5. Highlight Your Skills and Endorsements

LinkedIn allows you to add skills to your profile, a vital feature when learning how to set up LinkedIn for maximum visibility. To make the most of this:

Add top skills: Focus on those relevant to your field. For instance, if you’re in IT, include “Java,” “Python,” or “Cloud Computing.”

Get endorsements: Connect with colleagues and ask them to endorse your skills.

6. Build Your Network

Once your profile is set up, start growing your network.

Connect with colleagues, classmates, and mentors: Personalise connection requests to make a lasting impression.

Join LinkedIn groups: Participate in industry-specific groups to interact with like-minded professionals.

Engage with posts: Commenting, liking, and sharing content builds your presence.

7. Customize Your LinkedIn URL

To make your profile more professional and shareable, customise your LinkedIn URL. Here’s how:

Go to your profile.

Click on “Edit public profile & URL” in the top right corner.

Update the URL to something simple like “linkedin.com/in/YourName.”

8. Post Regularly

When the question is how to set up LinkedIn, a LinkedIn profile isn’t just about setup, it’s about staying active. Share updates, write posts, or publish articles on topics you’re passionate about. Consistent activity keeps your profile relevant and visible.

9. Optimize for Job Searches

If you’re using LinkedIn for job hunting, optimise your profile:

Turn on Open to Work: Let recruiters know you’re available.

Use keywords: Ensure your profile includes terms recruiters might search for, like “content writer” or “software engineer.”

Ask for recommendations: A recommendation from a previous employer adds credibility.

The End Note

Learning how to set up LinkedIn is your first step to leveraging the platform’s vast potential. A well-crafted profile can unlock new opportunities, foster professional connections, and foster career growth. So, invest time in building your profile, engage actively, and watch your LinkedIn presence soar.