IG Expands Into New Markets With Agile Identity Verification

Case Study: Using an agile identity platform, learn how a global trading provider was able to accelerate its onboarding while expanding into new countries.

• Case Study

Global Trading Provider

Eliminates Overhead,

Accelerates Application

Processing

IG Expands Into

New Markets With

Agile Identity

Verification

Trulioo — Case Study

The

Challenge

20

IG’s significant global growth in

trading activity fueled a steady

stream of new clients but also

challenged the company to

enhance its onboarding as it

expanded into new countries.

“With the products we offer, our platform and

execution is the best available, but client onboarding

in most regions is quite a manual process, which could

take many days for an account to be opened,” said

Catherine Jeetoo, UK business change manager for IG,

which was founded in 1974. “After much internal work,

we realized that it is possible, with the right solutions, to

automate a lot of this process.”

At the same time, IG was unwilling to compromise its

high compliance standards, a point of pride for the

company. IG needed a rigorous identity verification

platform that enabled real-time access to reliable data

sources in target markets. It also needed the flexibility

to customize verification steps to meet Anti-Money

Laundering (AML) and Know Your Customer (KYC)

compliance requirements across multiple countries

and regions.

“We want to attract the active retail trader and investor

to IG,” Jeetoo said. “But with fast-moving markets,

people want to take advantage of the now, whether it’s

a global issue such as Greece or China or whether it’s a

particular stock they’re interested in. Having to wait for

an account to be opened is a missed opportunity.”

IG needed the right balance of security and speed.

Committed to further implementing digital identity

verification, the company partnered with Trulioo.

IG is a global leader in online trading and

the world’s leading provider of contracts

for difference and financial spread

betting, operating in 20 countries.

Trulioo — Case Study

The

Solution

Trulioo Helps IG Automate and Scale

Compliance Processes

IG chose Trulioo for its scalability, agility,

comprehensiveness, customizability and speed.

The easy integration enabled automated electronic

identity verification.

“In the UK and Australia, we have automatic

verification, and we wanted to extend this into other

territories,” Jeetoo said. “That’s when we contracted

with Trulioo and started looking at additional countries

where they could offer real-time identity verification.”

Among the advantages of partnering with Trulioo is its

unique approach to reducing the number of required

identity verification fields with built-in intelligence and

common field mapping. Trulioo supports an extensive

list of country-specific fields, including different name

and address attributes. A reduction in fields enables

clients to scale their businesses faster, smoother and

more efficiently.

“We started with a test,” said Rajib Deysarkar, IG

head of enterprise data and technology, Bangalore.

“We created some datasets using [the Trulioo] web

portal and started verifying on that platform against

other solutions that we had. We also tested integration

with [Trulioo] web services before trialing the API.

We then participated in [the Trulioo] normalized API

beta program. Our account opening team compared

the portal application against the results that the

automated service was giving.”

After that analysis, the decision was easy: IG deployed

Trulioo in full in the selected countries. IG is now

expediting application processing time and eliminating

the overhead of its manual review process.

“We track all of the verification and nonverifications,”

Deysarkar said. “We have logs, and in those logs, we

keep a note of time when we make a web service

request call to Trulioo web services, and the time it

takes to come back. We see faster response times and

a greater number of applications being processed.”

• Rajib Deysarkar

IG head of enterprise data and technology, Bangalore

We see faster

response times

and a greater

number of

applications

being processed.”

The world’s

identity

platform.

Contact Us

Trulioo is a registered trademark of Trulioo Information Services Inc. in the United States, the European Union,

Canada and other countries.

Trulioo is the world’s identity platform, trusted

by leading companies for their verification

needs. The Trulioo integrated, automated

platform provides unparalleled global coverage

for business and person verification and a

comprehensive suite of in-house capabilities.

Combining its state-of-the-art technology with expert verification

knowledge across diverse markets, Trulioo enables the highest

verification assurance levels, optimizing onboarding costs and

fostering trust and security in the global digital economy.

More Applications Processed and Faster

Response Times

IG had strict vetting criteria for its identity verification

partner. The company worked closely with Trulioo to

vet data sources, reliability, compliance, technology

feasibility and performance.

Happy with what it found, IG relied on the global

expertise of Trulioo to optimize identity verification and

automate KYC.

“The evaluation process was quite easy,” Deysarkar

said, “due to extensive documentation from Trulioo.”

With that foundation, IG has been refining its

identity verification strategy. The company is now

implementing Trulioo for application reviews in

additional countries.

“There are several steps we’re taking to make results

better,” Deysarkar said. “Our goal is to cut identity

verification time by half. We’re working with Trulioo

to look at our results and identify even more areas of

improvements to enhance our results.”

IG is continually improving to stay ahead of the

competition and meet clients’ expectations.

“The process has been much smoother,” Deysarkar

said, “compared to other integrations we have done.”

The

Results

About IG

IG is a global leader in online trading and the world’s

leading provider of contracts for difference and

financial spread betting, operating in 20 countries.

The company also provides an execution-only

stockbroking service. Headquartered in the UK, IG

Group Holdings PLC is listed on the London Stock

Exchange and is a constituent of the FTSE 250.

1 2 3 4

Made with Publuu - flipbook maker