Taylor Liggett - ID.me’s Strategy for Adoption, Monetization, and Brand for 100 Million Wallets and Beyond
In today’s episode we spoke with Taylor Liggett, Chief Growth Officer of ID.me, which is the largest reusable ID network in the United States and may be the largest private digital ID network in the world. With over 100 million user wallets and $150 million in revenue, ID.me has figured some things out about reusable ID adoption and monetization.
We talk about how reusable identity reduces the friction required to undergo a verification, and therefore expands the market. Taylor shares specific stats on conversion rates and completion times that are very interesting.
We cover a bunch of tactical topics, like:
- The education process needed to onboard relying parties
- How the go-to-market of a reusable ID product differs from a traditional transaction-based identity verification solution
- ID.me’s decision to prioritize web experiences over requiring a mobile wallet
- The business model ID.me charges its customers
Taylor spoke to some of the common objections that people online and in the media tend to have with ID.me. He did a great job addressing ID.me‘s tie-in with government, their strategy to build consumer trust in their brand after experiencing both good and bad press, and how they’re thinking about the evolution of interoperability in the space.
You can learn more by visiting the ID.me website.
Listen to the full episode on Apple podcasts, Spotify or find all ways to listen at trinsic.id/podcast.
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Listen to the full episode on Apple podcasts, Spotify or find all ways to listen at trinsic.id/podcast.
Video timestamps from Taylor Liggett's interview
You can watch the full video interview on our YouTube channel, or skip to the timestamps below to find the sections that are most interesting to you.
2:13 – Introduction to ID.me their adoption metrics and position in the market
4:01 – Challenges around reusable ID adoption and shifting to a user-consented identity paradigms
5:13 – How Taylor thinks about educating the market about reusable identity
7:34 – How lower friction identity opens up new opportunities and markets
9:28 – The benefits to tying a verified identity to a background check
10:51 – Specific metrics around the time to verify for consumers who already have reusable IDs
12:24 – ID.me’s decision to prioritize mobile web and desktop flows over a mobile app
15:12 – ID.me’s business model for reusable identity services
19:50 – The potential conflicts or competing priorities in serving government customers
22:40 – Strategies to build trust in the ID.me brand
24:15 – Taylor’s perspective on interoperability in the reusable identity space
27:03 – Taylor’s vision for the future of identity
How to get in touch
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