RegTech 100 company Trulioo claims it is able to verify five billion people through its flagship electronic identity verification platform.
GlobalGateway aims to help businesses meet a diverse range of compliance requirements while mitigating risk and preventing fraud in an effort to increase trust and safety in today’s digital-first world.
Through the platform Trulioo clients have real-time access to more than 400 reliable data sources – such as credit bureau, government, utility, consumer, and banking data from around the world.
It helps organisations comply with Anti-Money Laundering (AML) and Customer Due Diligence (CDD) requirements by automating Know Your Customer (KYC) and Know Your Business (KYB) workflows. Trulioo supports over 500 global clients to instantly verify 5 billion customers and 250 million business entities in over 100 countries – all through a single API integration.
“Knowing your customer is crucial,” said Trulioo’s CEO and founder, Stephen Ufford. “That’s why we’re continuing to invest heavily in expanding access to trusted data sources. Our dedicated team has set out to verify the entire global population and in turn, empower the world’s citizens with access to basic financial services – regardless of location, creed, circumstance or financial situation.
Ufford added: “The continued expansion of Trulioo’s marketplace for identity services will go a long way in helping the most vulnerable people transition out of poverty.”
Headquartered in Vancouver, Canada, Trulioo leverages optical character recognition, natural language processing, and AI technology to enable clients to evaluate new and existing customers and business entities in real-time.
Earlier this year, Trulioo released Mobile ID capabilities, a source for AML/KYC compliance and fraud detection. This identity verification leverages some of the world’s largest mobile network operators to fuel its mission to break down identity verification barriers so that organisations can better serve the entire global population.
The company recently expanded its AML and KYC service to the Philippines to help its remittance market.
The move came just weeks after Trulioo partnered with Acuant to provide an identity solution for fraud prevention and AML/KYC compliance. As a result, its GlobalGateway API electronic identity verification will now include Acuant’s AssureID, which offers data capture, auto-fill, document authentication, and facial recognition software.
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