A game changer for underbanked and thin-file individuals all over the globe

Trulioo, a leading global identity verification provider, is revolutionizing identity verification with the implementation of its newest product – Mobile ID.

With Trulioo’s Mobile ID, clients have access to data from 24 of the world’s largest Mobile Network Operators (MNOs) to instantly verify 1.8 billion mobile users and reduce fraud during account creation. Mobile ID is a game-changer as it helps facilitate access to traditional financial services for unbanked and thin-file individuals.

Offered through Trulioo’s electronic identity verification platform (eIDV), GlobalGateway, MNO authentication is used in conjunction with over 200 reliable and independent consumer data sources, such as credit, government, and banking to help instantly verify consumers during onboarding. MNOs offer enhanced coverage and convenience for identity matching, fraud prevention, proximity location, device information and call forwarding statuses.

“Mobile is the future of KYC,” said Stephen Ufford, CEO of Trulioo. “It allows us to help our clients offer financial services to the billions of unbanked individuals around the world.”

With close to 80 percent of people in North America, Europe and Asia accessing the internet on their mobile phone, and the number of mobile phone users expected to pass the five billion mark next year, the opportunities for mobile verification are endless.

“Underserved individuals will now be able to open a credit, bank or merchant account and prove their identity with just a few swipes on their phone,” Ufford continued.

This month, Ufford will speak about this topic at Mobile World Congress 2018 in Barcelona.

During the GSMA Mobile Connect Seminar, Stephen will be joined by mobile heavyweights from Vodafone, EE, O2, Three and Danal. The panel – moderated by Marie Austenaa from GSMA –will discuss how cross-border transactions are shaping the world of eCommerce and examine how a standardized approach to verification enables growth. The panel will discuss the need for stronger identity authenticators to operate in today’s increasingly digitized world and shed light on the various security and authentication services that are now available due to mobile technology.