First Rate Exchange Services and GBG help Brits get their foreign currency quicker
Press Release

First Rate Exchange Services and GBG help Brits get their foreign currency quicker

First Rate Exchange Services, the UK’s largest supplier of foreign currency, has enlisted GBG to quickly verify the identity of its new customers, via mobile.

First Rate Exchange Service’s Post Office TMC (Travel Money Card) is a pre-loaded card that can be used in over 36 million shops, bars and restaurants around the world, which accept MasterCard.

Due to growing customer demand, the business was looking for an end-to-end mobile onboarding solution for its mobile application customer journey, in addition to the online channel, it already provides for new Post Office TMC applicants.

With GBG IDscan, First Rate Exchange Services can securely capture, verify and approve the identity of new applicants within just 5 seconds. The applicant takes a photo of their identity document; the technology then validates the document and pre-populates a form with their details including first name, surname, and address.

Details captured from the document are then verified using GBG ID3global datasets, which can verify the identity of over 4.4 billion citizens worldwide.

First Rate will receive a near real-time response 24 hours a day, 7 days a week. Documents validated include passports from any country, UK driving licenses and other address verification documents.

Paul Moss, Head of Pre Paid and International Payments at First Rate Exchange Services, says: “Our customers are at the heart of every decision we make. With GBG IDscan we can ensure an exceptional customer journey right from application.”

Libby Robinson, Senior Client Development Director at GBG, says: “First Rate is leading the industry when it comes to pre-paid travel spending. We’re delighted to be helping them pave the way with a great mobile onboarding experience for their customers.”

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