Information Technology
Global Businesses Lose $1.75 Trillion from Untapped Economic Potential of 'Third Largest Nation'
The research is part of a new awareness campaign, which introduces the fictional 'nation' of Greenflag whose citizens are victims of overly risk-averse business compliance practices and limitations of existing verification systems. These fail to account for a range of diverse identities and appearances and stereotype individuals based on their nationality's rate of fraud.
– – says .
Sumsub's latest research, conducted by Catalyst Group , underscores that digital exclusion is both a societal injustice and an economic oversight. Key findings from the research include:
Digital exclusion stems from several barriers, often due to verification systems failing to accommodate the diversity of human experiences. Additional research from renowned institutions like Amnesty International highlights that exclusion can be driven by systemic discrimination and repressive governance, which disproportionately affects marginalized groups. For instance, discriminatory policies, barriers for refugees and migrants, and limitations on freedom of expression prevent many from accessing essential digital services. Additionally, economic instability and inadequate social rights further marginalize vulnerable populations, making it harder for them to engage with digital services.
For the full whitepaper and more information about Greenflag, please visit: https://greenflag.me/
Sumsub is a full-cycle verification platform that secures the whole user journey. With Sumsub's customizable KYC, KYB, Transaction Monitoring and Fraud Prevention solutions, you can orchestrate your verification process, welcome more customers worldwide, meet compliance requirements, reduce costs, and protect your business.
Sumsub has over 2,500 clients across the fintech, crypto, transportation, trading, e-commerce and gaming industries, including Bitpanda, Wirex, Avis, Bybit, Huobi, Kaizen Gaming, and TransferGo.
Sumsub has citations in research published by global institutions such as the United Nations and Statista, as well as ongoing consultancy and engagements with INTERPOL.
Notes to editors on methodology
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