Canadian-based identity verification company Trulioo announced on Monday (June 20) the expansion of its business opportunities through The Fintech Mission to Brazil program.
The initiative, which is supported by the Consulate General of Canada, Global Affairs Canada (GAC) and Industrial Research Assistance Program (IRAP), is designed to help foster research and development collaboration between Canadian and Brazilian companies, as well as the development of global FinTech products.
“We are honored to be selected as a Canadian delegate to participate in The Fintech Mission,” said Jon Jones, president of Trulioo. “We see a huge growth opportunity in LATAM for FinTech companies, especially in Brazil, given the high penetration of mobile commerce, coupled with over 55 million unbanked adults — an optimal situation to co-develop FinTech applications with Brazilian partners.”
Just last month, the company announced that its identity verification solution, GlobalGateway, has expanded into four more regions: Brazil, Russia, India and China.
This move allows its ID verification solution to power more cross-border commerce across the emerging middle class in those (BRIC countries’) markets, which are expected to grow rapidly. Those countries alone account for 41 percent of the world’s population, and of that, what is considered to be the emerging middle class has topped 1.2 billion in 2015 alone.
The Fintech Mission is scheduled to take place June 20, 2016, to June 24, 2016, in São Paulo, Brazil, alongside the CIAB Febraban 2016 FinTech conference. During the events, Canadian delegates will be able to meet and network with local Brazilian FinTech partners.