Latin America is a hot spot of fintech activity and with the increased interest comes increased need for companies to be able to verify their users’ identities.
Today, digital identity verification leader Trulioo announced an expansion of coverage across the region. Bolstering Trulioo’s already global reach, the company has added the Dominican Republic and Uruguay to its country coverage and dramatically increased coverage across Colombia and Mexico.
The increased access allows companies to operate in and expand to these countries, improving access to financial services and supporting financial inclusion for the millions of people that live in them.
The enhanced Latin American coverage will enable organizations to reliably verify attributes such as age, identity and address to adhere to Know Your Customer, Know Your Business and Anti-Money Laundering regulations.
Address standardization across Latin America can vary, making it a challenge to achieve high match rates. However, the Trulioo eIDV service standardizes the address information to significantly increase match rates.
“The establishment and expansion of identity data partnerships across Latin America is integral to our continued ability to meet the evolving needs of our customers around the world,” said Michael Ramsbacker, Trulioo chief product officer.
“We deeply understand the needs of global companies and are proud to extend improved consumer onboarding to companies doing business in Colombia, the Dominican Republic, Mexico and Uruguay.”
Last month Trulioo officially expanded to Singapore in response to rapidly growing customer demand in the Asia-Pacific (APAC) region.