Trulioo, a global identity verification provider, has announced that it is now able to verify customers in Vietnam through GlobalGateway, the identity verification marketplace.
The extended GlobalGateway coverage will help organizations verify consumers and business entities throughout Vietnam.
Even in the midst of COVID-19, Vietnam’s economy continues to thrive as it is one of the only countries that has not reported any deaths thus far. Their GDP growth rate is expected to reach 4.1% this year and jump to 6.8% in 2021. State Bank of Vietnam (STB) launched a circular document to guide intermediary payment services in 2014, and 32 non-bank fintech entities have opened up various types of electronic payment, money transfer and wallet services since. The guidance includes the need to “check, authenticate, update full and accurate information of customers registering to use the services.”
Online security is becoming increasingly important to consumers around the world. Recent research conducted by Trulioo found that 62% of consumers indicated they prefer a slower account creation process with more rigorous identity verification to protect them from risk, rather than a faster process with fewer identity checks. With access to GlobalGateway, organizations working with Vietnamese businesses and consumers can streamline this process to ensure they meet compliance requirements, mitigate fraud risks, and increase trust and safety online.
Developed to help businesses automate their customer onboarding processes and comply with AML and KYC requirements, GlobalGateway powers fraud prevention and compliance systems for hundreds of financial institutions, payment companies, banks, and online marketplaces worldwide.
GlobalGateway provides identity verification in more than 100 countries, including Southeast Asian countries such as Malaysia, the Philippines, Singapore and Thailand.
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