Taylor Liggett – ID.me’s Strategy for Adoption, Monetization, and Brand for 100 Million Wallets and Beyond

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 podcastsSpotify 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

Most people listen to the Future of Identity on Apple or Spotify. You can find all ways to listen at trinsic.id/podcast

We’ve launched a weekly newsletter to highlight the biggest news and developments from the IDtech industry. To sign up and join over one thousand readers from the identity industry, you can input your email directly into the form below. 

As always, you can reach out to our host, Riley Hughes, on X (@rileyphughes) or LinkedIn. We love hearing from listeners! See you again in two weeks.

Zack Jones

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