Total Economic Impact Study of Onfido Finds a 261% ROI to Businesses With Payback in Less Than 6 Months
LONDON & SAN FRANCISCO, September 15, 2021–(BUSINESS WIRE)–Onfido, the global identity verification and authentication provider, today released a commissioned study conducted by Forrester Consulting on The Total Economic Impact™ of Onfido.
The study examines the potential return on investment (ROI) and business benefits organizations may realize by deploying Onfido solutions. Through customer interviews and financial analysis, Forrester found that a composite organization experiences benefits of up to 261% ROI and a net present value (NPV) of $9.86M in less than 6 months.
According to Forrester, exacerbated by COVID-19 and the resulting growth in digital interactions, identity theft and account takeover increased by at least 10% to 15% from 2019 to 2020 and it anticipates another 8% to 10% increase in identity theft and ATO (Account Takeover) fraud in 2021.1
The Forrester TEI study shows many quantifiable and unquantifiable…
