Trulioo, the leading global identity verification provider, today announced the launch of its new satellite office in Dublin to accommodate rapid growth and leverage the city’s growing financial and technological opportunities. This new location strengthens Trulioo’s European presence and offers a unique opportunity for the company to thrive in a growing RegTech hub.
“Our physical presence in Dublin will allow us to work more personally with our partners and customers in Europe,” said Stephen Ufford, founder and CEO of Trulioo. “Eighty percent of global technology firms have a presence in Dublin, so it’s no surprise the city is emerging as a RegTech center.”
Tech giants like Google, Facebook and Amazon are establishing European offices in Dublin at a rapid pace. As a result, Irish GDP grew 7.8 percent in 2017 alone, making Ireland the EU’s fastest-growing economy for the fourth consecutive year. As large technology firms need scalable solutions to help meet cross-border compliance obligations more efficiently and cost-effectively, this presents a ripe opportunity for RegTech companies.
“RegTech solutions that help tech companies adhere to new and emerging compliance requirements are critical for creating greater efficiencies as these businesses scale and expand into new markets,” Ufford added. “With our new satellite office, Trulioo will continue to focus efforts on increasing trust and safety online by powering fraud prevention and compliance systems through a single API integration.”
According to a new report from Juniper Research, spending on RegTech platforms is set to increase six-fold, from an estimated US$18bn this year, to US$115bn by 2023. Not only does RegTech help businesses mitigate risk, eliminate fraud and streamline processes, firms who RegTech solutions see significant increases in ROI and productivity.
With corporate headquarters in Vancouver, B.C. and an office in San Francisco, the Dublin location will provide additional support and resources to the company’s clients in the Eastern Hemisphere. Trulioo continues to experience exponential year-over-year growth, recently announcing that its flagship electronic identity verification platform, GlobalGateway, is now able to verify five billion people worldwide. Prior to this, Trulioo extended its anti-money laundering (AML) and know your customer (KYC) solution to include Mobile ID, enabling organizations to verify customers by leveraging some of the world’s largest mobile network operators (MNOs).
Additionally, GlobalGateway was recently ranked the number one identity verification tool for the third year running in the 2018 RegTech Supplier Performance Report, and was also awarded the 2018 RemTECH award for “Compliance Innovation.”