GBG acquires New Zealand’s leading identity verification and anti-money laundering firm, Cloudcheck

Carol Chris, Regional General Manager, Australia & New Zealand at GBG

GBG Group plc is pleased to announce that it has acquired Verifi Identity Services Limited commonly known as “Cloudcheck”, a leading provider of electronic Identity Verification (IDV), and Anti-Money Laundering (AML) solutions in New Zealand.

With this acquisition, GBG brings to the New Zealand market an enhanced breadth of identity solutions that help meet complex AML/KYC compliance requirements together with its complimentary location and fraud and compliance offerings.

Cloudcheck is renowned for its ease of use, configurability and value, and complements GBG’s identity strategy with experienced local presence and domestic solutions including data sources and technologies to meet New Zealand’s Electronic Identity Verification guidelines.

Verifi Identity Services (Cloudcheck) was founded in Auckland, New Zealand in 2012 by legal and financial services professionals Tyler McNamee and Vincent McCartney, and interactive pioneers Karl von Randow and Matthew Buchanan of Cactuslab.

GBG delighted to acquire market leader

In 2018 and 2019, Verifi placed highly in the Deloitte Technology Fast 500™ Asia Pacific.

Dev Dhiman, Managing Director, APAC at GBG, said, “We are delighted with the acquisition of Cloudcheck. It has established a leadership position in New Zealand’s electronic IDV market through understanding customer needs, solution effectiveness and speed to value.”

“This acquisition follows GBG’s successful model for global identity services: combining our internationally sourced data and expertise with locally relevant capability.”

“The acquisition is also aligned to our strategy; providing an opportunity to expand regionally, broadening the services, increasing market share, and long-term sustainable growth.”

Vincent McCartney, Managing Director at Verifi Identity Services Limited, was excited about the prospect of working with GBG and further advancing Cloudcheck.

“We are thrilled to be joining GBG and adding our suite of solutions to their  platform.”

“After a decade of building Cloudcheck to be the market leader, this is an exciting stage in our journey as we become part of an organisation and network that reaches every corner of the world with truly end-to-end solutions across IDV, AML, compliance, and fraud prevention.”

“As we continue to operate independently, our customers and partners can look forward to still receiving the same great service they already get from our team, with the added benefits of being able to easily expand or deepen their approaches to IDV and AML/KYC.”

GBG gears up its digital identities solutions

Carol Chris, Regional General Manager for Australia New Zealand at GBG, said, “Cloudcheck adds a complementary suite of services to the GBG family.”

“As the pandemic has driven greater demand and widespread use of digital identities solutions, while financial fraudsters are using sophisticated approaches with greater resources to conduct money laundering, phishing, and more, the combined offerings from GBG and Verifi will deliver significant benefits to businesses and financial institutions across the region.”