Shufti Positioned as a Leading Challenger in Juniper Research’s 2024 KYC/KYB leaderboard

Identity Verification is no longer a background compliance task. Today, it determines how digital enterprises operate, grow, and defend themselves against complex financial crimes. What used to be a procedural requirement now decides onboarding efficiency, global expansion, risk exposure, and, of course, trustworthiness of digital ecosystems.

Within Juniper Research’s Competitor Leaderboard for KYC and KYB systems, Shufti is positioned as a Leading Challenger. The placement is based on Juniper Research’s comparative assessment of vendors’ capability and capacity in the KYC and KYB systems landscape during the 2024–2029 period.

A Market That Is Growing Faster Than The Risks

Juniper Research highlights how and why the IDV solutions market is expanding. Several forces are driving this expansion, including:

• Remote onboarding at scale
  Banks, fintechs, e-commerce stores, and social media marketplaces are remotely onboarding users and businesses across the globe. The requirement is a verification process that works not only in seconds instead of days, but also needs to be accurate.
• Evolving fraud patterns
  Deepfakes, synthetic identities, fake businesses, and manipulated documents need a sophisticated system that handles the threat landscape effectively. The evolution of fraud has proved that traditional checks are no longer enough.
• Rising regulatory expectations
  Regulations around AML, sanctions screening, beneficial ownership, and industry-specific rules are updated by regulators across both financial and non-financial sectors in order to combat the new fraud typologies.
• Global operating models
  Businesses are entering new markets faster. This speed is not possible without KYC and KYB solutions that work consistently across 230+ countries and territories, 150+ languages, and thousands of document types. This is exactly where Shufti operates today.

Shufti has long understood these forces and adapted its KYC and KYB solutions to mitigate the barriers enterprises face while expanding safely in new markets. With the evolution and expansion of identity verification, Shufti treats fraud as an evolving entity as well.

How Juniper’s Leaderboard Evaluates Vendors

Juniper Research’s Competitor Leaderboard provides a comparative view of vendor positioning across the KYC and KYB systems market. The framework assesses vendors across multiple factors, including solution breadth and feature depth, geographic coverage, technology maturity and innovation, and operational performance and scalability. The leaderboard is designed to show relative positioning across these areas rather than a single measure of performance.

Shufti’s Platform Capabilities in the Context of Juniper Research’s Evaluation Framework

Juniper Research’s competitor leaderboard evaluates KYC and KYB system providers using a broad set of capability and capacity factors. The following sections outline Shufti’s platform capabilities in areas that align with those evaluation themes, based on Shufti’s own product design and operating model.

1. Compliance: More Than Checking a Box

Compliance is the baseline for any verification system. The challenge is that the baseline keeps changing. New regulations, new reporting expectations, and new regional standards arrive regularly.

Shufti’s approach is to help enterprises stay ahead of that change, not react to it. Shufti supports global KYC, KYB, and AML screening, including verification of individuals, businesses, ownership structures, and continuous monitoring of risk patterns. 

The goal is clear: give compliance and risk teams the information they need to make confident decisions, whether they are onboarding a freelancer or a multinational corporation.

2. Technology: Built For The Threats Of Today And Tomorrow

Identity verification is now a technology problem as much as a compliance one. Fraudsters rely on AI to create synthetic identities and sophisticated document forgeries. Verification providers need to respond with technology that is just as advanced.

Shufti uses in-house AI models to power document verification, facial matching, liveness detection, and deepfake-resistant KYC. Its technology is designed to work with more than 3,000 document types and to adapt to new formats and fraud techniques as soon as they start surfacing. By owning core technology and avoiding a patchwork of third-party components, Shufti is designed to maintain control over security and performance. That control is one contributing factor the platform can keep improving speed, along with accuracy, without compromising on trust.

3. User Experience: Friction Where It Matters, Speed Where It Counts

Every extra step in an onboarding workflow increases the risk of drop-off. According to ABBYY’s State of Intelligent Automation Report (Q4 2022), 90% of companies lose potential customers during digital onboarding, with many citing the lengthy process as the main reason. At the same time, every shortcut in security increases risk. The real work is in finding the right balance.

Shufti aims to provide a solution that makes verification quick, often in under a minute in real-world scenarios. Shufti has taken recognizable steps in order to make the onboarding workflow smooth for users in order to maximize conversion and minimize dropouts. One such step includes a customizable workflow for each industry based on its own user interface and risk landscape.

For end users, it feels like a simple, guided process. For product and engineering teams, it means they can experiment and localise without rebuilding verification from scratch.

4. Operational Efficiency: Scaling Verification, Not Manual Work

When verification volumes rise, inefficiency also increases in the form of False rejection, False Acceptance, and manual reviews start to surface. These false alerts, manual reviews, inconsistent data, siloed tools, and fragmented workflows all slow things down and increase cost.

Shufti is built to reduce that operational strain. Automated screening, configurable rules, and structured KYB reports help teams solve more cases earlier in the process and train the system on edge cases in order to automate those as well, eventually reducing manual reviews.

This is especially important for fintechs, social media, marketplaces, and crypto firms that are onboarding at high volumes, around the globe. They need systems that allow them to grow their business through maximum acquisition of consumers without facing bottlenecks in risk and compliance teams.

Final Thoughts 

Identity verification systems have moved from a narrow compliance task to a central part of how digital businesses operate and expand. Juniper Research’s KYC/KYB Systems Market: 2024–2029 captures that shift and highlights the vendors that are enabling these operations and expansions.

Shufti’s placement as a Leading Challenger indicates its relative positioning in Juniper Research’s evaluation of technology capabilities, global reach, and operational relevance for compliance and risk teams.

As fraud becomes more sophisticated and regulations become more demanding, enterprises require verification systems that provide accuracy, speed, and reach together. Shufti’s focus remains on supporting that requirement through technology designed for modern digital environments.

Disclaimer: Juniper Research is an independent market analyst firm. References to its research are used with permission and are based on Juniper Research’s Global KYC/KYB Systems Market 2024–2029 materials. All trademarks and research content remain the property of Juniper Research.