STEVE MUNFORD

Rapid technical development and the expansion of e-commerce over the past ten years have posed several problems and risks to enterprises across the globe. Businesses and consumers are more vulnerable to data breaches and identity theft after the rise in the use of cloud. The data that organizations gather during the onboarding and digital identity verification of a person is sensitive and beneficial to fraudsters. Also, cyber experts constantly face the need to overcome new challenges on a day-to-day basis. Today’s hackers are an evolved group, and new methods of enacting data breaches are being uncovered constantly. Security professionals often find themselves in highly pressurized scenarios as they have to constantly innovate and implement new strategies to tackle new ways of hacking.

Reliance on conventional or proven methods could invite disastrous consequences. Therefore, Effective KYC solutions are all about innovating with expertise. Global identity verification is a complicated process. What adds to the complexity of the scenario is the presence of numerous vendors and systems. Enter Trulioo, a Vancouver, BC-headquartered firm with an ultimate focus on streamlining identity verification for optimal results. To streamline onboarding and eliminate friction, Trulioo offers a variety of identity verification services on a single platform. “The firm delivers a global identity platform that gives you the agility, ease, and efficiency to onboard the right customers anywhere in the world while minimizing costs and mitigating fraud. Trulioo is the identity platform global businesses turn to for growth, innovation, and compliance. The platform helps companies achieve regulatory compliance, reduce risk and expand their businesses.

With a single identity verification platform, you can confidently join new markets while adapting to changing requirements.,” says Steve Munford, CEO. The enterprise has enabled verification of more than 300 million enterprises and 5 billion people belonging to 195 nations. Also, the regulations continue to alter. To increase match rates and satisfy KYC and AML compliance, Trulioo establishes links with more than 450 global and local data sources, 6,000 watchlists, and 20,000 negative media sources. The broad range of tools speeds up client identification verification with real-time access to international data sources and drag-and-drop processes tailored to specific needs.

THE SOLUTIONS AND CAPABILITIES

Trulioo is among the popular providers of KYC solutions. The range of solutions presented by the firm comprises the Global Identity Platform. Here is a look at Integrations, Individual Verification, Watchlist Screening, and Business Verification as well.

The Identity Platform enables you to create workflows that match your specific verification needs and help you comply with KYB, KYC, AML, and sanctions screening around the world. Leverage Workflow Studio for no-code, drag-and-drop workflow building, or use API Direct to connect to specific verification services. Rapidly launch your verification processes and remove the burden from your development team with single API integrations and ready-to-use, hosted front-end forms.

THE GLOBAL IDENTITY PLATFORM

The identity platform enables users to build, implement, and improve onboarding workflows quickly using Workflow Studio, or through API Direct to connect to external applications like Salesforce and DocuSign. The identity platform makes Trulioo capable of extending the ability to integrate its capabilities with the tech stack seamlessly. “The Identity Platform enables you to create workflows that match your specific verification needs and help you comply with KYB, KYC, AML, and sanctions screening around the world. Leverage Workflow Studio for no-code, drag-and-drop workflow building, or use API Direct to connect to specific verification services. Rapidly launch your verification processes and remove the burden from your development team with single API integrations and ready-to-use, hosted front-end forms,” explains Munford.

INTEGRATIONS

Trulioo has always been able to build processes that are national, use case, and compliance-specific and ready for market growth by connecting with native, first- and third-party services, as well as trusted global data partners. Interconnected verification aids in identifying security holes that an older system would overlook. Reducing friction will make the onboarding process more efficient.

INDIVIDUAL VERIFICATION

There are several KYC identification verification challenges. A proven method here is to use artificial intelligence, machine learning, a vast array of data sources, and in-depth knowledge to improve verification processes that are specifically designed to meet your needs. It is possible to use a large, international platform to verify identities while providing high match rates, worldwide regulatory compliance, and anticipated customer comfort.

WATCHLIST SCREENING

Maintaining compliance with KYC and AML requirements is essential for safeguarding both the client base and the reputation in the ever-changing consumer market. By checking people and companies against more than 6,000 worldwide watchlists and more than 20,000 negative media sources, AML Watchlist Screening offers strong protection.

BUSINESS VERIFICATION

“We enable to comply with strict KYB regulations. Verify businesses across the globe with services ranging from high-level business insights to stringent UBO authentication. Trulioo offers verification services tailored to your KYB compliance needs, so you only pay for the data you need. Quickly set up KYB, KYC, and AML workflows in a single dynamic waterfall customized for your business needs. Easily configure and adjust workflows to meet shifting regulations worldwide, all without coding,” adds Munford further.