ATLANTA, Jan. 14, 2020 /PRNewswire/ -- IDology, a GBG company, today announced that its ExpectID solution will incorporate additional countries from North America, South America and Europe. By internationalizing the leading identity verification platform, multi-national organizations will be able to verify and authenticate more customers safely, in real time and without friction.
ExpectID uses an innovative, multi-layered process to access thousands of data sources containing billions of public records to instantly verify an identity, while also providing predictive, intelligent information around that identity. The integration of international data enables companies to leverage one vendor with one service gateway to onboard and authenticate customers from multiple countries and with easier reporting to more effectively stay on top of fraud trends.
"Fraud and criminals operate across borders, so it's only natural that identity verification solutions enable secure and friction-free cross-country capabilities," said Chris Clark, CEO of GBG. "Today's announcement is a compelling proof point that GBG is executing on our mission of helping any business, anywhere, reach and identify any customer across the world."
Consulting firm McKinsey projects the Identity Verification as a Service industry to grow to $20 billion by 2022, with a Total Addressable Market (TAM) growth of 9–15 percent annually.
"This is an exciting achievement that executes on our vision of driving revenue, removing friction and fighting fraud at a global scale," said John Dancu, CEO of IDology. "Clients operating in multiple global regions can gain a competitive edge with more efficient customer onboarding, access to multiple smart layers of identity verification and point-and-click configuration across the world in one technology stack."
"As more and more businesses participate in international commerce or have international customers, it is increasingly important to be able to validate individuals' identities using multiple layers of attributes for account onboarding, fraud prevention and compliance purposes," said Shirley Inscoe, senior analyst for Aite Group. "Providing a single platform that enables access to identity verification across multiple geographies enables companies to use it more easily and efficiently, and can save expense if a new implementation project can be avoided."
According to data from IDology's 7th Annual Fraud Report, nearly one-third of businesses cite global capabilities as a top feature desired among identity verification providers. IDology was awarded Identity Verification Provider of the Year by One World Identity.
About IDology IDology, a GBG company, provides real-time technology solutions that verify an individual's identity and age for anyone conducting business in a consumer-not-present environment to help drive revenue, decrease costs, prevent fraud and meet compliance regulations. Founded in 2003, IDology offers a solution-driven approach to identity verification and fraud prevention that ultimately helps increase customer acquisition and improve the customer experience. IDology has developed an innovative and on-demand technology platform that allows customers to control the entire proofing process and provides the flexibility to make configuration changes that are deployed automatically—without having to rely on internal IT resources or IDology's customer service so businesses can stay ahead of the fraud landscape while maintaining compliance. For more information, visit www.IDology.com or call 866-520-1234.
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