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2021 at Global Data Consortium: The Next Chapter
11 years ago, GDC’s journey began. At the start, we focused on leveraging our experience in global address verification and building a next-generation platform for address data hygiene. We signed a few customers and got traction but recognized that our Worldview technology platform and our network of global data providers opened a bigger opportunity.
After pivoting the business to focus on global consumer identity verification or eKYC (Know Your Customer), we built a solid business delivering eKYC to a myriad of customers and partners around the world. In six years, we’ve onboarded more than 120 unique data sources covering more than 60 countries. We’ve further developed our Worldview platform to rapidly onboard and ingest other APIs and provide a combination of matching, standardization, parsing, translation, and scoring to the data flowing through the platform. Finally, we built the most robust coalition of identity experts on the planet. Our internal and external experts work together in a “consortium” to combine our technology, data, and best practices into a high-value delivery offering for global eKYC. In 2020, the usage of our eKYC solution expanded further, but we also discovered additional challenges our customers faced that we could solve.
In 2021, we are launching our eKYB (Know Your Business) solution. Business verification is a problem at many levels – it requires a combination of data, technology, and expertise to achieve the needed results. GDC will expand its Consortium to serve this need. We’ll add more than 70 new data sources to our current 120. We’ll address Beneficial Ownership and Owners, Directors, & Officers verification. Unlike many of our competitors, our solution will be architected and built by our internal development teams and members of the Consortium rather than being licensed from outside and bolted onto our platform. It will provide the same robust functions as our eKYC solution and even a few new ones as well. But wait, there’s more…
In parallel with our eKYB offering, GDC will expand its eKYC offering to cover more countries across the globe. We will target new countries like Morocco, Malaysia, Japan, Chile, and Nigeria while expanding our depth of coverage in countries like Germany, Portugal, Turkey, and the USA. Furthermore, we aspire to cover more of the banked and unbanked populations, provide verification for Gen Z, X, and the Silent Generations, and utilize our Compliance Advisory Board, product, and data alliance teams to provide the expert insight needed to be addressing the unique challenges presented by digital identity verification for customers of all types.
We look forward to conquering these ambitious goals and sharing our new offerings with the broader market in 2021. We are all looking forward to a time beyond the pandemic. A time when we can get back out into the world and engage directly with one another. Until that point, please know that GDC has been busy evolving with its local identity partners to prepare for the next stages of growth for the global business community.