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An Update on What We’re Doing at GDC (Hint: lots of global electronic identity verification)
You will notice some recent changes to the GDC website, and more are on the way. Let me explain what’s going on.
Two years ago we saw an opportunity to extend the Global Data Consortium model to electronic identity verification. This is where companies use independent reference data to instantly verify the identities of their customers. Think of opening an online bank account. Your bank is required to verify that you are who you say are before you can start moving money around. They want to do this as quickly as possible as you go through the registration process, otherwise you might lose interest and move on. Yes, we live in an instant gratification world!
We had a hypothesis that GDC could take the model we proved with global address hygiene- negotiating over 50 partnerships worldwide and building the technology to access all this distributed data in real-time – and apply it to identity information. And in true agile startup fashion, we started a customer discovery process to validate our assumptions. In talking with dozens of people across a range of industries, this is what we heard:
1. It’s not just banks! FinTech, eCommerce marketplaces, the sharing economy, social networks (I could go on) all want faster ways to verify identities as they move into new country markets.
2. All these companies are generally unhappy with the options available for global electronic identity verification today. This leaves them using document authentication services, which are too slow, create friction with customers, and cost too much.
3. They want a solution that gives them one point of access to as many countries as possible. (Many had tried building a similar technology in-house but failed. It was too hard!)
The feedback was enough for GDC to build a simple solution and put it quickly into beta mode. With just seven countries to offer, we found several early-adopters and two key strategic partners. They each used the product hard and gave us tons of critical feedback. We iterated, working out the kinks and proving out the technology and the economics one step at a time.
GDC is now over a year past that beta launch, and it’s time to show the world what we have to offer. I couldn’t be more excited.
We have already expanded the platform from seven to 19 countries, integrating services from over 45 data partners along the way. And we are only accelerating from here, gearing up to pass 50 countries (135 data partner integrations) by the end of next year. We are serious about becoming the one point for the market to access global electronic identity verification services.
So checkout our revised website. In the coming weeks we are adding more content to describe our services in each country, and we will be adding new countries.
If you need help with global electronic identity verification, reach out to me and let’s talk about what GDC can do for you.
Also, if you are a data provider in a country we don’t yet offer, we would love to learn more about your services and consider adding you to the GDC platform as a Consortium partner.