RegTech 100 company Trulioo has partnered with Acuant to provide an identity solution for fraud prevention and AML/KYC compliance.
Trulioo’s GlobalGateway API electronic identity verification will now include Acuant’s AssureID, which offers data capture, auto-fill, document authentication, and facial recognition software.
According to Trulioo, document authentication and facial recognition combined with AML/KYC compliant electronic identity verification ‘offers an effective and masterful identity proofing solution’. It will help reduce fraud and root out financial crime during account creation.
Together the pair will offer consumers a ‘swift onboarding experience’ while ensuring regulated businesses adhere to cross-border AML/KYC compliance requirements.
“Today’s consumers expect to shop, pay, and bank on their mobile devices from anywhere and at any time,” said Stephen Ufford, CEO of Trulioo. “By partnering with companies like Acuant, businesses have access to reliable global data sources and trusted authentication technologies to instantly verify and authenticate identities online without compromising convenience or security.”
Acuant is an identity verification platform that instantly reduces fraud while providing ‘seamless customer experiences’. Its solutions include intelligent data capture and auto-fill software, identity document authentication, chip and ePassport authentication with PKI, facial recognition software and expert manual review of documents.
“Our partnership with Trulioo will help customers leverage data, analytics and machine learning to quickly verify identities while dramatically reducing fraud,” said Acuant president and CEO Yossi Zekri. “Managing millions of digital transactions every year for billions of people on the planet is a large and complex task. As such, Acuant is constantly updating and expanding its library to reach across not only every US state and Canadian Province, but over 190 countries worldwide.”
Trulioo’s bank-grade online verification platform, GlobalGateway, 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.
The RegTech supports over 500 global clients to instantly verify 4.5 billion customers and 250 million business entities in over 100 countries – all through a single API integration.
Last year, Trulioo was hand-picked by a panel of industry experts for the RegTech 100, a list of companies that every financial institution should know about in 2018. The RegTech 100 is part of the Global RegTech review – an essential, in-depth analysis of the global RegTech market.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
