Webull chooses GBG as its end-to-end identity verification partner
Press Release
Reading time: 5 mins

Webull chooses GBG as its end-to-end identity verification partner

09 January, 2024 LONDON: GBG, the global expert in digital location, identity verification and fraud software, has been selected by Webull, a leading digital investment platform, as its end-to-end identify verification partner in the UK. Webull chose GBG because of the depth of its identity expertise and suite of industry leading automated solutions, able to support Webull’s diverse identity verification needs and ensure compliance.

GBG’s strong global coverage, including access to all three major UK credit bureaus, in-depth understanding of diverse digital identity ecosystems, and identity confidence scoring capability come together to optimise Webull’s customer onboarding, verifying identities around the globe with confidence. This is combined with the support of GBG’s fraud prevention capabilities, protecting Webull against the threat of fraud at the point of onboarding and throughout the customer lifecycle.

Gus Tomlinson, Chief Product Officer, Identity & Fraud, said: “With online safety top of mind for consumers in today’s digital world, a robust digital identity strategy isn’t just a regulatory requirement but a strategic investment which provides a competitive advantage. However, as the moment of onboarding is a critical opportunity to identify fraudulent behaviour, it’s key that businesses approach digital identity and fraud prevention as one and the same.

With access to hundreds of trusted international identity data sets each day, ensuring more than 100 billion digital transactions can be completed around the world every year, we are proud to provide Webull with unique insights into the fraud and identity landscape. We look forward to working with Webull to support the platform’s needs through a unified end-to-end strategy.”

Webull will leverage GBG’s IDscan QR Code functionality, a hosted solution that enables quick and easy access to GBG’s document verification capability through a unique QR Code or link. This not only removes the need for long and complex integration work, but ensures global compliance needs are met, removes error-prone manual processes, and autonomously manages upgrades and maintenance, creating a hassle-free experience.

Nick Saunders, UK CEO at Webull, said: “As we continue to scale, it’s critical that our chosen partners can scale with us. With GBG’s phenomenal industry expertise, automated solutions and trusted global coverage, this partnership enables us to onboard more genuine customers confidently and at speed, whilst ensuring compliance, mitigating fraud threats, and providing an improved user experience.” 

Webull will also use Loqate, a GBG solution, to provide address verification to its customers and streamline the onboarding process. Loqate’s technology helps Webull’s customers to input their address details quickly, increasing speed and accuracy, and instantly verifies a customer’s details in the correct local address format.

With the address data provided in a clear and validated format, more customers can pass the initial electronic identity verification check without having to upload documents. This not only saves Webull’s customers’ time, but also ensures all customer data is recorded accurately at the first point of contact. 

Find out more at https://www.gbgplc.com/en/

About GBG

GBG is the leading expert in global digital identity. We combine our powerful technology, the most accurate data coverage, and our talented team to deliver award-winning location intelligence, identity verification and fraud prevention solutions.

With over 30 years’ experience, we bring together a team of over 1,250 dedicated experts with local industry insight from around the world to make it easy for businesses to identify and verify customers and locations, protecting everyone, everywhere from fraud.

Learn more at www.gbgplc.com and follow us on LinkedIn and Twitter @gbgplc.

About Webull UK

Webull is a leading digital investment platform built on next-generation global infrastructure. Webull serves tens of millions of users from over 180 countries, providing retail investors with 24/7 access to financial markets worldwide. Users can put investment strategies to work by trading global stocks, ETFs, options, and fractional shares, through Webull's trading platform, which is currently available in the United Kingdom, the United States, Hong Kong, Singapore, Australia, South Africa, Japan and Mexico. For more information on Webull UK, please visit https://www.webull-uk.com/.

  • Press releases
  • Digital Identity
  • International Indentity Index