In an era where businesses are extending their reach beyond local boundaries, stepping into the global arena is no longer a choice but a necessity. However, a one-size-fits-all strategy often falls short in resonating with the diverse cultures and regulatory frameworks encountered in different regions. This expansion calls for a nuanced approach that caters to the local sensibilities and laws of different regions, a strategy often encapsulated in the term ‘glocalization.’ At Onfido, we deeply understand the essence of glocalization, ensuring that our identity verification solutions are a blend of global standards tailored with a local touch.
This approach facilitates not only a deeper connection with local markets but also ensures compliance with regional regulations. Let's delve into the facets of glocalization, especially in the realm of online identity verification.
Glocalization is a business strategy that melds global scaling ambitions with a sensitivity to local cultures, preferences, and regulations. The word comes from combining “globalization” with “localization” and describes adapting global products to the particular local market they’re sold in. It's the savvy middle ground between a universal one-size-fits-all approach, and a highly localized strategy that might lack broader scalability.
What is Glocalization?
By embracing glocalization, companies aspire to create products, services, and marketing strategies that have a global appeal while retaining a local touch. This approach acknowledges and appreciates the diversity inherent in different markets, ensuring that as businesses expand across borders, they remain relevant, respectful, and compliant with local nuances. Glocalization fosters a more personalized and culturally resonant connection with varied audiences, which in turn, cultivates trust and facilitates smoother market penetration. In the realm of online identity verification, glocalization translates to tailoring verification processes to meet the regulatory, cultural and language demands of different regions while maintaining a consistent, high-quality user experience globally.
Local compliance within a global framework
Navigating the regulatory maze becomes a quintessential task as businesses venture into new markets. A recent webinar highlighting the state of regulation across Europe dove into how companies are adopting a glocalized approach to remote identity verification to scale operations. Julien Rizzo, Compliance Product Manager at Onfido, pointed out the shift from a passporting regime to local compliance strategies, emphasizing the need for flexible solutions to orchestrate country-specific compliant workflows. The essence is to align with local regulatory frameworks while maintaining a global standard of service, ensuring a smoother transition into diverse markets.
Culturally nuanced technology
Technology that respects and adapts to cultural nuances plays a pivotal role in glocalization. Especially in the realm of identity verification, solutions need to be fine-tuned to recognize a diverse range of identity documents and languages across different regions. This cultural sensitivity fosters a user-friendly and respectful interaction, crucial in building trust and rapport with local markets.
Global expertise, local insight
A global presence coupled with local insights paves the way for a successful glocalization strategy. Companies expanding globally, particularly into Europe, are advised to focus on modern IDV (identity verification) standards like ETSI TS 119 461, while understanding the contrast with locally approved regulatory solutions for KYC (Know Your Customer). This blend of global expertise and local insight facilitates the delivery of solutions finely attuned to the needs and expectations of different demographics.
Collaborations with local entities
Establishing collaborations with local entities is instrumental in navigating the local regulatory and cultural landscape. These partnerships enable companies to stay ahead in meeting the evolving needs of different markets. As the regulatory landscape is poised for major shifts with frameworks like the EU's eIDAS v2 digital identity framework and new EU measures against money laundering and terrorist financing on the horizon, partnering with identity verification vendors capable of navigating regional complexity becomes imperative.
Glocalization is more than a business strategy; it’s a commitment to inclusivity and respect for local cultures and regulations. As the realm of online identity verification evolves with emerging regulatory frameworks, embracing glocalization ensures a safer and more inclusive digital ecosystem for all.
In the realm of online identity verification, Onfido embodies the essence of glocalization by offering solutions that cater to both global standards and local sensitivities. Our technology is crafted to navigate the regulatory landscapes of different regions while ensuring a user-friendly and culturally respectful interaction. We support more than 2,500 identity documents from 195 countries, helping businesses meet these demands by providing a seamless blend of global expertise and local insight. Through glocalization, Onfido strives to bridge the gap between global outreach and local resonance, ensuring that as the digital identity verification landscape evolves, we remain at the forefront of delivering solutions that resonate with diverse markets while upholding a global standard of excellence.