Vancouver-based tech giant, Trulioo, announces significant advancements in digital verification, marking a new era in global identity verification and opening up unprecedented opportunities for businesses and individuals alike.
In a remarkable stride forward for global digital verification, Vancouver-based tech giant Trulioo has marked the anniversary of its identity platform launch with a significant announcement that underscores its dominance in the verification space. Celebrated for its prowess in personal and business verification across 75 countries, Trulioo has achieved unparalleled match rate performance, powered by a blend of data science, market acumen, and relentless innovation. This milestone not only amplifies the capabilities of Trulioo’s global network, which now boasts over 500 data sources, but also paves the way for unlocking millions in new revenue streams for some of the world’s largest brands while simultaneously accelerating access for billions of individuals worldwide.
The Trulioo identity platform utilizes a cutting-edge ‘Person Match’ verification capability, which employs flexible, intelligent data routing and sequencing. This sophisticated approach leverages machine learning algorithms to orchestrate the perfect combination and sequencing of data source matching during the onboarding process. Tailored to adapt to the industry and regional nuances of the top-transacting countries, the Person Match verification ensures an industry-leading performance and outcome, validating Trulioo’s commitment to excellence and innovation in the verification sector.
Since its inception, the platform has seen a significant expansion, with its Person Match network growing by 16%, now encompassing an impressive roster of more than 500 partners. This expansion has further broadened the platform’s reach, now capable of verifying over 3.2 billion individuals across 20 countries. The enhancements have led to notable improvements, including faster verification times, reduced onboarding costs, and higher verification rates.
Trulioo’s impact is clearly visible through their collaboration with global payment platform Veem, which lauds the verification leader’s ability to effectively ensure person and business identity verification without incurring additional costs. This partnership exemplifies Trulioo’s instrumental role in facilitating business growth and scalability through superior verification services.
The platform’s unparalleled performance has delivered significant returns for various sectors, including banking, fintech, foreign exchange, marketplaces, and social media companies worldwide. Case studies from a global remittance entity, an international brokerage, and one of the world’s largest online marketplaces demonstrate the tangible benefit of Trulioo’s optimization and innovation, showcasing impressive user onboardings and substantial revenue increases.
Trulioo’s CEO, Steve Munford, articulates the foundational ethos of the company, emphasizing the agile, customizable, and innovative nature of the Trulioo identity platform. Their approach to verification is not just about meeting the present needs but is designed to future-proof organizations against evolving onboarding challenges. Through the largest data network in the world, Trulioo enables its partners to fine-tune their onboarding processes for unparalleled speed and efficiency, ensuring compliance with industry and country-specific regulations.
Trulioo’s announcement is a testament to their vanguard position in the digital verification realm. Providing verification solutions across 195 countries, capable of verifying more than 13,000 ID documents and 700 million business entities against over 6,000 watchlists, Trulioo is not just fortifying its arsenal but also pushing the boundaries of what’s possible in digital identity verification. As they continue to evolve and expand, Trulioo stands as a beacon of trust and efficiency in the global digital economy, fostering an environment where businesses can flourish securely and individuals can navigate the digital world with confidence.