{"id":19216,"date":"2022-03-15T06:00:52","date_gmt":"2022-03-15T13:00:52","guid":{"rendered":"https:\/\/www.trulioo.com\/?p=19216"},"modified":"2023-07-31T23:54:06","modified_gmt":"2023-07-31T23:54:06","slug":"greece-israel","status":"publish","type":"post","link":"https:\/\/www.trulioo.com\/blog\/identity-verification\/greece-israel","title":{"rendered":"Trulioo expands identity verification coverage in Greece and Israel"},"content":{"rendered":"\n<p>With the global nature of the digital economy, customers can be anywhere. Being able to onboard a person quickly, seamlessly and compliantly, wherever they reside, is crucial to ongoing expansion.<\/p>\n\n\n\n<p>To help organizations further scale their global operations, we now offer expanded coverage in Greece and Israel via Trulioo GlobalGateway. The two EMEA countries combined represent 20 million consumers and are classified as Developed by the Organization for Economic Co-operation and Development (OECD).<\/p>\n\n\n\n<p>The coverage is another important milestone toward <a href=\"\/company\/about-us\">our goal<\/a> of being able to verify every person on the planet.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-onboarding-customers-in-greece\">Onboarding customers in Greece<\/h2>\n\n\n\n<p>Greece has a GDP (per person) of $27,902 (all currency in USD). <a href=\"https:\/\/data.oecd.org\/greece.htm\" target=\"_blank\" rel=\"noopener\">Online indicators<\/a> point to significant potential, as 85.1% of households have internet access and 88.8 out of 100 inhabitants have mobile broadband subscriptions. <a href=\"https:\/\/ecommercedb.com\/en\/markets\/gr\/all\" target=\"_blank\" rel=\"noopener\">eCommerce in Greece<\/a> is increasing; in 2021, there was a 20% growth rate, with revenue of $3.6B.<\/p>\n\n\n\n<p>Some digital initiatives of the country include:<\/p>\n\n\n\n<ul>\n<li>A new <a href=\"https:\/\/thepaypers.com\/digital-identity-security-online-fraud\/new-digital-kyc-platform-launched-in-greece--1249343\" target=\"_blank\" rel=\"noopener\">digital KYC platform<\/a> called Introduce yourself &#8211; KYC (Know Your Customer) allows citizens who have Greek Tax Identification Numbers and Taxisnet credentials to remotely provide identity verification.<\/li>\n\n\n\n<li>The Bank of Greece has created a <a href=\"https:\/\/www.bankofgreece.gr\/en\/main-tasks\/supervision\/fintech-innovation-hub\" target=\"_blank\" rel=\"noopener\">Fintech Innovation Hub<\/a> to encourage and promote financial innovation and guide new business models.<\/li>\n<\/ul>\n\n\n\n<p>The use of cash payments in Greece is widespread, and <a href=\"https:\/\/www.gfmag.com\/global-data\/economic-data\/worlds-most-unbanked-countries\" target=\"_blank\" rel=\"noopener\">15% of the population does not have bank <\/a>accounts, making it challenging to verify individuals through conventional means like credit bureaus. Digital identity verification is especially critical when traditional methods aren\u2019t available, allowing underbanked individuals to be verified through a wider array of alternative data sources<\/p>\n\n\n\n<p>\u201cIt\u2019s critical to create and sustain an inclusive economy \u2013 no one should be left behind because they may not have a conventional banking history or credit score,\u201d said Michael Ramsbacker, Trulioo CPO. \u201cOffering support in Greece will ensure organizations can connect with consumers digitally,&nbsp;ultimately advancing financial inclusion.\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-onboarding-customers-in-israel\">Onboarding customers in Israel<\/h2>\n\n\n\n<p><a href=\"https:\/\/data.oecd.org\/israel.htm#profile-innovationandtechnology\" target=\"_blank\" rel=\"noopener\">Israel has a GDP<\/a> (per person) of $39,493. While its internet access rate is lower than Greece at 75.9%, it has widespread mobile broadband use, with 137.8 subscriptions per 100 inhabitants.<\/p>\n\n\n\n<p>The market for <a href=\"https:\/\/ecommercedb.com\/en\/markets\/il\/all\" target=\"_blank\" rel=\"noopener\">eCommerce in Israel<\/a> is growing fast; in 2021, it had revenues of $5.976B with an expected CAGR from 2021-2025 of 11%. It has a strong <a href=\"https:\/\/techcrunch.com\/2021\/08\/26\/israels-maturing-fintech-ecosystem-may-soon-create-global-disruptors\/\" target=\"_blank\" rel=\"noopener\">fintech sector<\/a>, with over 12 unicorns already and fintech start-ups raising over $1B in each of the last three years.<\/p>\n\n\n\n<p>Israel is investigating digital KYC processes; the Identity &amp; Biometric Applications Unit of Israel\u2019s National Cyber Directorate published a (now closed) RFI for Online and electronic KYC (Know Your Customer) process, systems and service. Current identity requirements are:<\/p>\n\n\n\n<ul>\n<li>Name<\/li>\n\n\n\n<li>Address<\/li>\n\n\n\n<li>Identification Number<\/li>\n\n\n\n<li>Date Of Birth<\/li>\n\n\n\n<li>Passport<\/li>\n\n\n\n<li>Identity Card<\/li>\n<\/ul>\n\n\n\n<p>Tel Aviv is a significant <a href=\"https:\/\/www.protocol.com\/israel-tech-industry-boom-opinion\" target=\"_blank\" rel=\"noopener\">technology and innovation hub<\/a> in Israel, home to one-third of the world\u2019s cybersecurity unicorns. The Israeli government recently proposed substantial updates to its data privacy laws to mitigate information security violations.<\/p>\n\n\n\n<p>\u201cWith consumer privacy top of mind in Israel, we recognize the importance of offering services that help our customers deploy identity verification programs that abide by evolving data collection policies,\u201d added Ramsbacker. \u201cTrulioo offers services that organizations can rely on to verify identities the world over, irrespective of jurisdiction or market.\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-one-global-solution\">One global solution<\/h2>\n\n\n\n<p>Intelligent identity verification helps simplify expansion into new markets. With one API integration, Trulioo enables you to add new markets efficiently. We know it\u2019s not simply about entering a market, but optimizing performance; with best-in-class data coverage and intelligent <a href=\"\/blog\/identity-verification\/global-kyc-match-engine\">KYC match engine capabilities<\/a>, we help create customer onboarding experiences that deliver strong results.<\/p>\n\n\n\n<p>Performance is also about deploying substantial compliance and fraud prevention measures to help prevent bad actors, limit financial crimes and build trust. With Trulioo, you can fine-tune automated workflows to create the correct onboarding process for a specific scenario.<\/p>\n\n\n\n<p>With the additional resources to better verify identities in Greece and Israel, Trulioo is even better positioned to be your global partner.<\/p>\n\n\n\n<p>Your customers are everywhere. Ensure that you can sign them up quickly and seamlessly. Contact your Customer Success representative to add Greece and Israel to your portfolio or <a href=\"https:\/\/www.trulioo.com\/lp\/book-a-demo\" target=\"_blank\" rel=\"noopener\">request a demo<\/a> if new to Trulioo.<\/p>\n","protected":false},"excerpt":{"rendered":"With the global nature of the digital economy, customers can be anywhere. Being able to&#8230;","protected":false},"author":8,"featured_media":19217,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[334],"post-types":[81],"post-topics":[209,98,131],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.1 (Yoast SEO v22.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Trulioo expands identity verification coverage in Greece and Israel<\/title>\n<meta name=\"description\" content=\"To help organizations further scale their global operations, we now offer expanded identity coverage in Greece and Israel.\" \/>\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\/blog\/identity-verification\/greece-israel\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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