At the Money 20\/20 payments and fintech conference in Las Vegas today, Vancouver-based global identity verification company Trulioo will announce the expansion of its Anti-Money Laundering\/Know Your Customer (AML\/KYC) compliant ID Verification coverage to 60 countries through its bank-grade identity verification platform, GlobalGateway. For the billions of under-banked people who lack access to financial services owing to a lack of reliable means to verify their identities, Trulioo's platform provides a way for global businesses, including financial institutions, to onboard those customers, while also powering fraud prevention and compliance systems for hundreds of clients to increase online trust and safety. This new expansion will reach into Asia-Pacific countries such as Indonesia and Vietnam, and Latin American countries such as Costa Rica, Colombia, and Argentina. \u201cBeing able to verify identities whenever a digital transaction is taking place quickly forges that first layer of trust," said Trulioo founder and CEO Stephen Ufford. "Consumers and service providers alike need a global solution that solves the most significant pain points for our online economy \u2013 ease of use, security, and transparency.\u201d Trulioo's GlobalGateway platform helps businesses comply with AML\/KYC identity verification requirements to reliably evaluate the trustworthiness of new and existing users through a single portal or API, allowing them to perform frictionless identity verification process, within a matter of seconds rather than manually, for four billion people in over 50 countries via more than 200 data sources, the widest coverage in the market. \u201cOur interconnectivity comes with a hefty price as consumers move money online with increasing frequency and across every aspect of their daily lives,\u201d said Ufford. \u201cThe multiple channels and touch points create serious risks and challenges for fintech providers and financial institutions facilitating these high volumes of transactions.\u201d More than half of European consumers now use mobile devices to make payments and conduct their online banking, according to research from Visa, and seven out of 10 Americans expressed their opinion for a survey conducted by Blumberg Capital that technological advances have made conducting financial transactions online easier. Financial fraud and online threats complicate matters when it comes to establishing the framework of trust necessary to onboard new and relatively less documented customers interested in conducting online financial transactions. By their nature, banks, fintech companies, remittance companies, and crowdfunding platforms put themselves at risk by exposing themselves to anyone proposing to do business online, and the regulatory hurdles involving KYC\/AML regulatory requirements involve hefty fines for failing to meet global standards. Last December, Trulioo raised $15 million in equity financing, led by American Express Ventures, along with existing investors BDC Capital, Blumberg Capital and Tenfore Holdings, and earlier in 2015 closed a $6 million Series A round of funding. Last October, Trulioo launched its GlobalGateway identity verification platform in the Indian market. The world's financial institutions have been adopting RegTech platforms with varying degrees of success in the wake of the 2008 financial crisis, using technology to digitize manual reporting and compliance processes, easing the burden of compliance while also lowering operational costs, and taking advantage of automation and algorithms to process compliance information more accurately and quickly.