Identity verification provider Trulioo has expanded the geographic coverage of its online electronic identity verification service GlobalGateway to support Brazil, Russia, India, and China.
This group of countries, known as BRIC, houses 41% of the global population and supports an emerging middle class of 1.2 billion people. In these markets business-to-consumer ecommerce is estimated to grow faster than in well developed markets.
Trulioo president Jon Jones explains, “We focused efforts in securing data sources in these particular markets due to the significant growth in cross-border commerce, which has been made possible by Internet penetration and mobile technology.” He continues, “These emerging markets of today are ripening to become the main markets of tomorrow, and require versatile identity verification tools to do so.”
GlobalGateway enables businesses and banks to verify 4 billion new and existing client identities from 45 countries via 145 data sources to maintain KYC and AML compliance. The product is available as an API or through an online portal.
Last month, Trulioo won the Innovation in Cyber Security Award at the 2016 Fintech Innovation Awards. Late last year, the company closed on $15 million in a round led by American Express Ventures, bringing its total funding to more than $23 million.
Vancouver, B.C.-based Trulioo demoed how its GlobalGateway works at FinovateFall 2015 and at FinDEVr San Francisco 2014, the company presented the GlobalGateway API.
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