GBGroup’s ID3global solution will ensure KYC regulations are enforced across The Bancorp’s operations in multiple European territories

GBGroup, the global leader in Identity Intelligence announced that The Bancorp, a highly specialised branchless commercial bank, has selected its flagship ID3global solution to handle the company’s challenging KYC requirements. The Bancorp provides financial service capabilities to non-banking organisations across multiple European territories and its work with GBGroup will support its growth in banking’s continuously evolving industry.

As a branchless commercial bank, The Bancorp must ensure transactions are secure and protected from money laundering and fraud. ID3global delivers security solutions on a global scale, subscribing to regulatory demands while providing robust verification for over 3 billion citizens across the globe.

With its full range of KYC services, ID3global will provide essential identification and verification intelligence to meet The Bancorp’s bespoke business and customer needs. Its sophisticated system understands cultural and legal requirements on a country-by-country basis, making it the ideal tool for The Bancorp’s pan-European operations and growth plans.

Founded in 2000, The Bancorp remains one of the few financial services companies in the world to provide private-label banking and technology solutions for non-banking businesses. Its impressive client roster ranges from entrepreneurial start-ups to businesses in the Fortune 500.

Kriya Patel, Director of The Bancorp, said: “The skills and knowledge GBGroup have in the development, configuration and implementation of their systems to meet the changing requirements of the financial sector is impressive. We value the benefits of sharing best practice with GBGroup and know we have a service we can trust and rely on to consistently deliver to the needs of our organisation and our customers.”

Glenn Porter, General Manager International Identity Verification at GBGroup, said: “The Bancorp has selected us to ensure it has a strong verification solution in place to support its pan-European operations. The company operates in a continuously evolving market that includes challenging KYC requirements and we are pleased that they have recognised our expertise in delivering effective solutions in this area.”

About GBGroup (GBG)

The most profitable and successful organisations recognise the value of understanding the individual identity of their customers and employees. GBG combines this concept of identity with technology to create an environment of trust, so that organisations can employ people and connect, communicate and transact with consumers, safely and responsibly.

We call this Identity Intelligence.

GBG’s Identity Intelligence solutions include:

Register & Verify – International software and services for quick and accurate customer registration; and the verification of identities of individuals & businesses remotely.

Cleanse & Engage – Innovative software and services which provide accurate and up-to-date identity information to deliver improved intelligent customer contact strategies.

Employ & Comply – Thorough background checks through online verification and authentication of individuals enabling organisations to safeguard, recruit and engage with confidence.

Trace & Investigate – Leading software and services which provide the most accurate and up-to-date picture of the UK’s population, properties and businesses to quickly locate, investigate and contact the right individual, first time.