Trulioo announces GlobalGateway now verifies five billion people worldwide

Trulioo, the leading global identity verification provider, has announced that it is now able to verify five billion people through its flagship electronic identity verification platform – GlobalGateway.

Developed for an international market, Trulioo’s GlobalGateway helps businesses meet a diverse range of compliance requirements while mitigating risk and preventing fraud in an effort to increase trust and safety in today’s digital-first world.

“Knowing your customer is crucial,” said Trulioo’s CEO and founder, Stephen Ufford. “That’s why we’re continuing to invest heavily in expanding access to trusted data sources. Our dedicated team has set out to verify the entire global population and in turn, empower the world’s citizens with access to basic financial services – regardless of location, creed, circumstance or financial situation.”

“The continued expansion of Trulioo’s marketplace for identity services will go a long way in helping the most vulnerable people transition out of poverty,” Ufford continued.

Globally, there are around two billion people referred to as ‘unbanked’ or ‘underbanked’. In the UK specifically, 1.5 million adults remain unbanked, despite being ranked ninth in terms of banking inclusion by the World Bank.

Internationally and in the UK, the unbanked have little to no affiliation to the traditional banking system – many do not have bank accounts, credit cards or loans. From this under-served group, 1.5 billion are unbanked solely due to their inability to prove their identity through a valid birth certificate, passport or proof of residence.

With GlobalGateway, Trulioo clients have real-time access to more than 400 reliable data sources – such as credit bureau, government, utility, consumer, and banking data from around the world, to instantly verify five billion people.

William Sirett, Executive Director at Interactive Brokers, commented: “Trulioo has become an integral part of our mission to build electronic access trading technology that delivers real advantages to traders, investors and institutions worldwide. Trulioo’s GlobalGateway solution enables us to verify clients more efficiently across borders by effectively integrating a variety of data sources. Working with a single provider for customer verification and regulatory compliance allows us to expand our outreach like never before.”

Earlier this year, in an effort to verify customers in hard-to-reach markets and further its fight to bridge the financial inclusion gap, Trulioo released Mobile ID capabilities, a unique and powerful source for AML/KYC compliance and fraud detection. This new and reliable identity verification source is a game-changer, leveraging some of the world’s largest mobile network operators to advance the mission to break down identity verification barriers so that organizations can better serve the entire global population.