Trulioo this week announced that it now offers coverage in Greece and Israel via its GlobalGateway, a global identity verification platform.
With GlobalGateway, organizations operating in these two countries can now perform identity checks on consumers that support regional Know Your Customer (KYC) and Anti-Money Laundering regulations.
Such verification helps organizations scale compliance programs globally and facilitate secure onboarding as they expand into new jurisdictions, according to Vancouver-born Trulioo.
The use of cash payments in Greece for example is common; indeed 15% of the population does not have a bank account. This can make it difficult to verify individuals through conventional means, like credit bureaus, notes Trulioo. Digital verification is critical when traditional means aren’t available, allowing “underbanked” individuals to be verified through a wider array of alternative data sources.
“No one should be left behind because they may not have a conventional banking history or credit score,” said Michael Ramsbacker, Trulioo’s CPO. “Offering support in Greece will ensure organizations can connect with consumers digitally, ultimately advancing financial inclusion.”
Meanwhile, Tel Aviv functions as a major technology hub in Israel, which in turn is home to one-third of the world’s cybersecurity unicorns.
“With consumer privacy top of mind in Israel, we recognize the importance of offering services that help our customers deploy identity verification programs that abide by evolving data collection policies,” added Ramsbacker.
With a mission to help provide every person on the planet with a digital identity to enable access to basic financial services and support, Trulioo currently provides real-time verification of 5 billion consumers and 330 million business entities worldwide.