How data verification powers fast, secure onboarding
Laura Strother
Head of Product
Data verification drives seamless customer onboarding
As an essential part of identity verification (IDV), data verification allows financial services to authenticate customer identities using reliable, structured data sources. When implemented via a centralised identity platform, it ensures secure, efficient, and scalable customer onboarding without affecting user experience.
A prime example is St. James’s Place, a leading wealth management firm, which partnered with us to streamline its onboarding process. By integrating an enhanced data verification solution, the business automated its KYC checks and improved customer pass rates by 9%, while maintaining its high standards of customer due diligence.
"Our pass rates with GBG’s are vastly improved and working with them has been first-rate."
Gavin Welch, Deputy MLRO
St. James’s Place
Extending the same rigor to businesses through Know Your Business (KYB) checks is critical in today’s interconnected financial ecosystem. Our business intelligence platform brings together siloed teams and customer prospects to reduce the cost of manual review and accelerate the business verification process.
Enhanced data sources for identity verification
Our customers are seeing the impact of integrating multiple data sources into a comprehensive approach to identity verification. One gaming business realised significant gains in player match and pass rates, resulting in tangible revenue gains. In other sectors, banks and financial services we partner with have seen a blended uplift in customer pass rates of +14%.
Incorporating a variety of enhanced data sources into identity verification processes is necessary to achieve identity verification accuracy, regulatory compliance and a great user experience while protecting against fraud around the world. Organisations must prioritise integrating diverse data sources as the digital landscape evolves to ensure robust and reliable identity verification.
“Relying on trusted data sources, you can connect safely with every genuine identity”
These enhanced data sources can power fast, compliant KYC checks and verify business ownership, registration, and director information across jurisdictions. Our business verification solution offers access to over 600 million company records and registries, giving financial services the ability to quickly screen a wide variety of ultimate beneficial owners.
Identity verification that connects to authoritative public and private data sources delivers fast and secure verification, achieving higher match rates for more genuine customers. Combining several data sources provides access to the most current data and delivers the best match rates, accelerating onboarding for good customers and preventing identity fraud.
Stay ahead of fraud without slowing down onboarding
Identity fraud is evolving fast and generative AI is accelerating the threat. Our recent report into global fraud trends revealed that 74% of executives are concerned that AI will supercharge phishing, smishing and synthetic identity fraud. As fraudsters get smarter, your defenses must be sharper.
The good news is that identity data verification can help fight GenAI threats without slowing down your customer onboarding experience.
“Enhanced identity data sources allow firms to verify and onboard genuine customers, globally.”
Why data verification is critical for financial services
Fraud is evolving. Financial crime networks are increasingly turning to synthetic identities - a blend of real and fake data designed to bypass traditional checks. At the same time, financial institutions face expanding regulatory obligations under KYC, AML and data privacy laws.
Data verification offers a scalable method to combat this fraud
With comprehensive access to global identity data sources, financial services can:
- Verify more legitimate customers quickly, reducing dropout rates during onboarding
- Flag suspicious or mismatched data in real time, preventing identity fraud from slipping through
- Meet compliance requirements efficiently, using standardised verification processes
- Recognise and serve hard-to-verify populations, promoting greater financial inclusion
Data-powered identity verification using enhanced data sources at customer onboarding allows financial services to welcome a broader demographic, including the thin-file population, without sacrificing security. Genuine customers enjoy a fast, seamless experience, while businesses can be confident new customers are who they claim to be.
A comprehensive identity verification platform
Financial services providers don’t just need better tools, they need smarter strategies. Our GBG Go platform offers identity verification orchestration that dynamically responds to trust and fraud signals, adapting for speed or security wherever your business operates.
GBG Go delivers this by bringing together real-time data verification with dynamic risk workflows and access to over 80 global fraud prevention modules, all through a single integration. By verifying personal information against trusted government data sources and credit reference data around the world, businesses can onboard customers faster while reducing exposure to fraud.
GBG Go helps businesses build secure and seamless onboarding journeys, implementing robust identity data verification. By instantly validating key identity attributes like name, address, date of birth and national ID numbers, your business can confidently approve genuine customers without introducing unnecessary friction.
This minimises manual review and customer drop-off as well as ensuring regulatory compliance and better protection against identity fraud. The result is a smarter, more resilient identity verification process that supports growth, reduces fraud and delivers a better customer experience from the first interaction.
All-in-one identity verification orchestration
GBG Go helps your business deploy ready-made customer journeys, dynamically route for speed and security and convert more customers worldwide—without compromising compliance.
Our global identity verification platform gives you access to 80+ modules for fraud prevention, risk management, and compliance through a single API.
Watch our webinar on using GBG Go for global growth and learn how to connect with every genuine customer, grow and protect your business.
Smarter customer onboarding
Whether you're a fintech startup or a global financial service, the impact of data onboarding is clear: faster growth, better risk control and more satisfied customers.
Organisations that have implemented centralised, flexible identity verification strategies have seen measurable improvements in conversion rates, fraud prevention and operational efficiency, by integrating identity data verification into their onboarding workflows.
By adopting a strategic approach to identity verification, businesses avoid simply reacting to today’s threat. Instead, businesses are building resilient identity verification strategies that scale with the business and respond to the requirements present in each market and the risks presented by each new customer application.
Is your business looking to transform its customer onboarding strategy? Explore how data verification can help you grow with confidence.
“Access trusted identity data from 50 countries to meet the highest standards of security, inclusivity and transparency.”
Frequently Asked Questions
What is identity data verification?
Identity data verification is the process of confirming a customer’s identity by comparing their personal information — name, date of birth and address — against trusted data sources, such as government or commercial databases and credit bureaux. It’s an essential part of fast and secure customer identity verification and onboarding for financial services.
How does identity data verification improve customer onboarding for financial services?
Identity data as part of a multi-layered verification strategy is important to stay ahead of fraud without slowing down customer onboarding, especially as GenAI threats increase. By automating identity checks and using real-time data matching, financial institutions can onboard legitimate customers faster and with less friction, reducing dropout rates and enhancing customer satisfaction without compromising security.
How does identity data verification help prevent fraud?
Identity data verification helps to detect data inconsistencies and flag suspicious and stolen identity data in real time, helping financial services to identify synthetic identities and other identity fraud before they can enter and impact your business. A proactive approach to identity data verification strengthens your business’ defenses against evolving identity fraud and financial crime.
Can identity data verification support AML and KYC compliance programs?
Yes. Identity data verification is a crucial component of both Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance programs. Data verification is a foundational element that helps organizations verify the identities of their customers and mitigate risks associated with financial crimes like money laundering and terrorism financing efficiently and at global scale.
