Every fintech knows how much it costs to onboard a new client—and how much they’ll lose by relying on bad data to do so.
Bad data leads to a poor onboarding experience, and users will take their business elsewhere before they submit further proof of their identities. Even worse, fintechs relying on this shoddy data are failing to comply with Anti-Money Laundering Laws and risk incurring hefty fines.
Electronic Identity Verification (eIDV) eliminates these problems. By relying on high-quality data, eIDV keeps companies in compliance with AML laws and streamlines the onboarding process for users by verifying their identities within a matter of seconds.
As a result, fintechs earn $412 for every one dollar invested in onboarding new clients.
To download the White Paper click here
About: Global Data Consortium is a data-as-a-service company that delivers real-time, locally sourced identity and business verification for financial institutions, age restricted services, ecommerce, regtechs, and more around the globe. From swift customer and business identification for online account opening to identity verification for global money transfer to verifying ages for online gaming and age-restricted commerce, our local data providers reach deep into their markets to find unexpected sources of identity information, confirming anyone from thin-file clients to prominent persons of interest. Beyond the product itself, our Consortium of data providers, channel partners, and customers supply a continuous flow of knowledge and meaningful connection.
