Published: Tuesday October 22, 2013
Written by on News
GBG expands global ID Verification capability to [countries accounting for] half the world’s population
Expansion to verification of citizens of Brazil, India, Mexico, Spain and Belgium means that GBG can now verify individuals in countries accounting for over 3.6 billion people worldwide
GBG, a global leader in Identity Intelligence, has announced the expansion of its ID Verification capability to include Brazil, India, Mexico, Spain and Belgium. This means that businesses can now enjoy secure cross-border trade with over half of the world's population, in nations that represent over half of the world's population and 66% of global GDP.
GBG's expanded ID Verification capability enables businesses to 'on-board' and 'transact' with citizens resident in these exciting markets to vet the authenticity of a customer's personal details and verify they are' who they say they are' without any paper documents whatsoever. Not only will this meet global compliance requirements, such as those relating to age restricted products & services, anti-money laundering guidelines and know your customer legislation it will also help companies protect themselves from the growing problems of ID fraud and financial crime and make acquiring and transacting with customers quicker, simpler and less risky.
Businesses can operate with safety and confidence when they know who they are dealing with. Identity verification enables this and therefore unlocks many exciting markets such as Brazil, where online commerce rose 24 percent in the first half of 2013 to 12.7 billion reais ($5.3 billion)1. With the World Cup and Olympics taking place in the next couple of years, the Brazilian economy looks set to grow further offering many more opportunities for businesses.
Glenn Porter, General Manager International Identity Verification at GBG commnts: "Cross border commerce is an exciting prospect, but it is important that businesses do not open their doors to the world without putting safe measures in place to protect and secure their business. The fact that we can now offer businesses safe transactions with over half of the world's population further strengthens our position as the provider of the best identity verification coverage in the world; something we're hugely proud of."
1According to E-bit, a Sao Paulo-based research company click here