Trulioo, the global identity verification company, announced Monday (Oct. 24) that it now offers real-time identity verification coverage in 60 countries through its GlobalGateway platform.
In a press release Trulioo said it is expanding its reach into APAC countries to include coverage in Indonesia and Vietnam; and LATAM with Costa Rica, Colombia, and Argentina among others. The increased coverage will help further Trulioo’s mission to provide cross-border Know Your Customer (KYC) Anti-Money Laundering (AML) -compliant identity verification for every individual on every corner of the globe.
Today’s increasingly digital world is reshaping the preferences and expectations of how consumers move money online, said Trulioo. Research by Visa shows over half of European consumers have adopted mobile devices to make everyday payments and in the U.S., a recent survey by Blumberg Capital revealed seven in ten Americans (70 percent) feel technological advances are making their financial dealings easier.
“Our interconnectivity comes with a hefty price as consumers move money online with increasing frequency and across every aspect of their daily lives,” said Stephen Ufford, Founder & CEO at Trulioo in the press release. “The multiple channels and touch points create serious risks and challenges for fintech providers and financial institutions facilitating these high volumes of transactions.”
As with any online transaction, anonymity is the biggest roadblock to trust, making identity verification key to creating a framework of trust online. In an age rife with financial fraud and global terror threats, banks, fintech companies, remittance companies, and crowdfunding platforms moving money online are putting themselves at risk. Adopting transparency is key, and failing to meet KYC and AML obligations could mean severe fines.
“Being able to verify identities whenever a digital transaction is taking place quickly forges that first layer of trust. Consumers and service providers alike need a global solution that solves the most significant pain points for our online economy – ease of use, security, and transparency,” added Ufford. GlobalGateway connects Trulioo clients to more than 200 independent and global data sources to instantly verify 4 billion consumers through a single API integration in seconds.