GBGroup, the global specialist in identity data intelligence announced it is providing identity verification technology to Australia-based multi-asset brokerage and prime services provider, Invast Global. The partnership brings an enhanced level of identity intelligence to Invast’s on-boarding process, supporting its comprehensive anti-money laundering (AML) program and driving expansion into major growing international markets including China.
With a broad portfolio of clients, ranging from individual traders and investors to multi-national financial institutions, Invast provides access to a range of trades including foreign exchange (FX), contracts for difference (CFD) products and thematic investments. The firm has been using GBG ID3global since September 2015 to enhance its services for clients in 25 countries worldwide. This includes GBG’s electronic identity verification service for Chinese customers, incorporating validation of Chinese passports and national identity cards, to prove an individual is who they say they are.
Invast’s GBG solution has removed the laborious process of identifying and screening high risk individuals, by replacing manual processing with a state of the art batch matching tool that automatically checks new and existing customers against a broad portfolio of politically exposed persons (PEP) and enhanced sanctions data from global partners. This has enhanced Invast’s existing on-boarding and customer management process with faster application turn around, fewer requests for additional customer information, and reduction in false negatives, thus enhancing overall business performance.
Source: GBG Press Release
