https://ift.tt/feboBp0 Stock Exchange Takes Over KYC Specialist Global Data Consortium – Cryptovibes.com – Daily Cryptocurrency and FX News

London Stock Exchange Group (LSEG) is now continuing with its acquisitions, purchasing a digital ID Company called Global Data Consortium to enable clients with know-your-customer (KYC) needs. Launched in 2012, GDC offers a global name and address that matches the capabilities of more than 300 data sources in at least 70 nations.

GDC’s services are now utilized within the LSEG Customer and Third-Party Risk business, to offer global digital identity authentication to clients. Following completion, GDC will become a part of LSEG’s Data and Analytics division.

The group of customer & third-party risk solutions, LSEG, Phil Cotter, said:

“This transaction delivers a compelling opportunity to acquire a strategic capability aligned to our vision of becoming a market-leading global Digital Identity and Fraud (DI&F) solutions provider. The acquisition of GDC, combined with our existing capabilities from GIACT and Qual-ID, will enable customers to verify digital identity and protect against fraud globally with a suite of real-time, accurate solutions.”

This stock exchange’s market data unit Refinitiv bought an 11% stake in GDC in 2021. Up to today, the terms of that transaction have not been disclosed. The deal caps a busy few months for LSEG which has also recently bought Quantile and Tora, while investing in BondCLiQ, Floww, Finbourne, and Open Exchange.