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.