{"id":14949,"date":"2020-04-06T20:12:25","date_gmt":"2020-04-06T20:12:25","guid":{"rendered":"https:\/\/content.trulioo.com\/?post_type=resources&p=14949"},"modified":"2023-07-26T23:28:05","modified_gmt":"2023-07-26T23:28:05","slug":"online-trading","status":"publish","type":"resources","link":"https:\/\/www.trulioo.com\/resources\/case-studies\/online-trading","title":{"rendered":"IG Expands Into New Markets With Agile Identity Verification"},"content":{"rendered":"\n

Global Trading Provider Eliminates Overhead, Accelerates Application Processing<\/h2>\n\n\n\n

IG\u2019s significant global growth in trading activity fueled a steady stream of new clients but also challenged the company to enhance its onboarding as it expanded into new countries.<\/p>\n\n\n\n

\u201cWith the products we offer, our platform and execution is the best available, but client onboarding in most regions is quite a manual process, which could take many days for an account to be opened,\u201d said Catherine Jeetoo, UK business change manager for IG, which was founded in 1974. \u201cAfter much internal work, we realized that it is possible, with the right solutions, to automate a lot of this process.\u201d<\/p>\n\n\n\n

At the same time, IG was unwilling to compromise its high compliance standards, a point of pride for the company. IG needed a rigorous identity verification platform that enabled real-time access to reliable data sources in target markets. It also needed the flexibility to customize verification steps to meet Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance requirements across multiple countries and regions.<\/p>\n\n\n\n

\u201cWe want to attract the active retail trader and investor to IG,\u201d Jeetoo said. \u201cBut with fast-moving markets, people want to take advantage of the now, whether it\u2019s a global issue such as Greece or China or whether it\u2019s a particular stock they\u2019re interested in. Having to wait for an account to be opened is a missed opportunity.\u201d<\/p>\n\n\n\n

IG needed the right balance of security and speed. Committed to further implementing digital identity verification, the company partnered with Trulioo.<\/p>\n\n\n\n

Trulioo Helps IG Automate and Scale Compliance Processes<\/h2>\n\n\n\n

IG chose Trulioo for its scalability, agility, comprehensiveness, customizability and speed. The easy integration enabled automated electronic identity verification.<\/p>\n\n\n\n

\u201cIn the UK and Australia, we have automatic verification, and we wanted to extend this into other territories,\u201d Jeetoo said. \u201cThat\u2019s when we contracted with Trulioo and started looking at additional countries where they could offer real-time identity verification.\u201d<\/p>\n\n\n\n

Among the advantages of partnering with Trulioo is its unique approach to reducing the number of required identity verification fields with built-in intelligence and common field mapping. Trulioo supports an extensive list of country-specific fields, including different name and address attributes. A reduction in fields enables clients to scale their businesses faster, smoother and more efficiently.<\/p>\n\n\n\n

\u201cWe started with a test,\u201d said Rajib Deysarkar, IG head of enterprise data and technology, Bangalore. \u201cWe created some datasets using [the Trulioo] web portal and started verifying on that platform against other solutions that we had. We also tested integration with [Trulioo] web services before trialing the API. We then participated in [the Trulioo] normalized API beta program. Our account opening team compared the portal application against the results that the automated service was giving.\u201d<\/p>\n\n\n\n

After that analysis, the decision was easy: IG deployed Trulioo in full in the selected countries. IG is now expediting application processing time and eliminating the overhead of its manual review process.<\/p>\n\n\n\n

\u201cWe track all of the verification and nonverifications,\u201d Deysarkar said. \u201cWe have logs, and in those logs, we keep a note of time when we make a web service request call to Trulioo web services, and the time it takes to come back. We see faster response times and a greater number of applications being processed.\u201d<\/p>\n\n\n\n

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We see faster response times and a greater number of applications being processed.<\/h5>\t\t\t\t
\n\t\t\t\t\tRajib Deysarkar, IG head of enterprise data and technology, Bangalore\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\n\t\t\t\t<\/svg>\t\t\t\tInspire your followers and tweet this.<\/span>\n\t\t\t<\/a>\n\t\t\n\t<\/div>\n<\/div>\n\n\n

More Applications Processed and Faster Response Times<\/h2>\n\n\n\n

IG had strict vetting criteria for its identity verification partner. The company worked closely with Trulioo to vet data sources, reliability, compliance, technology feasibility and performance.<\/p>\n\n\n\n

Happy with what it found, IG relied on the global expertise of Trulioo to optimize identity verification and automate KYC.<\/p>\n\n\n\n

\u201cThe evaluation process was quite easy,\u201d Deysarkar said, \u201cdue to extensive documentation from Trulioo.\u201d<\/p>\n\n\n\n

With that foundation, IG has been refining its identity verification strategy. The company is now implementing Trulioo for application reviews in additional countries.<\/p>\n\n\n\n

\u201cThere are several steps we\u2019re taking to make results better,\u201d Deysarkar said. \u201cOur goal is to cut identity verification time by half. We\u2019re working with Trulioo to look at our results and identify even more areas of improvements to enhance our results.\u201d<\/p>\n\n\n\n

IG is continually improving to stay ahead of the competition and meet clients\u2019 expectations.<\/p>\n\n\n\n

\u201cThe process has been much smoother,\u201d Deysarkar said, \u201ccompared to other integrations we have done.\u201d<\/p>\n\n\n\n

About IG<\/h2>\n\n\n\n

IG is a global leader in online trading and the world\u2019s leading provider of contracts for difference and financial spread betting, operating in 20 countries. The company also provides an execution-only stockbroking service. Headquartered in the UK, IG Group Holdings PLC is listed on the London Stock Exchange and is a constituent of the FTSE 250.<\/p>\n\n\n\n

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\n View full PDF<\/a> <\/div>\n <\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"Use Case: AML\/KYC Compliance\r\n\r\nLearn how IG expedited their account opening process with GlobalGateway.","protected":false},"author":4,"featured_media":27329,"template":"","meta":{"_acf_changed":false,"om_disable_all_campaigns":false},"resources-types":[4],"resources-topics":[5,7,15],"acf":[],"yoast_head":"\nIG Expands Into New Markets With Agile Identity Verification | Trulioo<\/title>\n<meta name=\"description\" content=\"Case Study: Using an agile identity platform, learn how a global trading provider was able to accelerate its onboarding while expanding into new countries.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.trulioo.com\/resources\/case-studies\/online-trading\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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