What would happen if the 1.8 billion people in the world who don’t have bank accounts, may not have government-issued IDs but do have mobile phones could use their phones to validate their identities and access financial services?

We may be about to find out.

Two dozen of the world’s largest mobile network operators (MNOs) have agreed to provide access to Mobile ID, Trulioo‘s new verification service. That data will be used to instantly verify 1.8 billion mobile device users around the globe, with the aim of reducing fraud tied to account openings.

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Source: PYMNTS