Global identity verification provider, Trulioo has united with GlobalGateway to extend its offering to Vietnam.
The extended GlobalGateway coverage seeks to help organisations accurately and efficiently verify consumers and business entities throughout Vietnam.
Steve Munford, CEO of Trulioo commented: “Our coverage in Vietnam will help remove barriers faced by consumers in accessing the basic financial services and support everyone deserves, while also providing businesses with a reliable way to meet compliance requirements and reduce risk.
“With one of the fastest-growing economies in the world, Vietnam’s appetite for digital advancements will fuel their GDP growth for a prosperous future.”
It comes as the region’s economy continues its period of growth, even in the midst of the global health pandemic. Vietnam’s GDP growth rate is expected to reach 4.1% this year and jump to 6.8% in 2021.
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, organisations working with Vietnamese businesses and consumers can streamline this process to better ensure they meet compliance requirements, mitigate fraud risks, and increase trust and safety online.
Munford added: “Consumers expect businesses to protect their identity and security when they access their websites and mobile applications, and they also don’t expect to give up a smooth digital experience in exchange. Businesses have to ensure their identity verification and wider onboarding processes find the right balance between speed and security.
“Digital adoption will increase as governments, technology and telecommunication businesses continue to accelerate programs to improve connectivity and access to basic online services for all citizens. ASEAN is one of the regions that is making rapid progress in this area, and its speed of digital adoption and innovation will make it increasingly attractive to businesses and investors.”