Trulioo takes authentication award and partners with Refinitiv for financial inclusion

Trulioo has formed a strategic partnership with Refinitiv to provide digital identity verification technology to foster financial inclusion, and its GlobalGateway has been named the 2019 Card-Not-Present (CNP) Award in the Best Identity Verification and Authentication Solution category.

Thomson Reuters financial market data and infrastructure unit Refinitiv and Trulioo plan to enable financial institutions to reduce fraud and financial crime while meeting anti-money laundering (AML) and know-your-customer (KYC) regulations with online customer verification. Refinitiv’s recent survey “Innovation and the fight against financial crime: How data and technology can turn the tide” shows 72 percent of global business experience financial crime, and 51 percent are planning to invest more to detect and prevent it.

Trulioo’s GlobalGateway combines biometrics, artificial intelligence, and access to information on more than 5 billion people, enabling organizations to run scalable identity checks with high accuracy, speed, and reliability.

“Our customers operate in a fast changing and dynamic market, and when it comes to managing their KYC, due diligence and financial crime risks, rapid changes in technology and digitalisation continue to shape the support they need,” says Phil Cotter, managing director of Refinitiv’s Risk business. “The partnership between Refinitiv and Trulioo will build on our expertise with World-Check, and will focus on delivering faster innovation to help customers meet these new demands and in the process meet their regulatory obligations.”

“The combination of Refinitiv’s trusted data and compliance expertise and Trulioo’s identity verification capabilities and global coverage, will bring modernized KYC processes to thousands of financial institutions around the world, and in turn, help millions of underbanked gain access to the financial services they deserve,” claims Trulioo CEO Stephen Ufford. “Both organizations share a common mission of supporting financial inclusion through the power of world-class data and technology.”

GlobalGateway was chosen by a panel of judges from the industry as the most effective solution for authentication and verification of cardholder identity in a CNP environment through directory services, two-factor authentication, 3DSecure or other means. The same CNP award was also won by GlobalGateway in 2016 and 2017.

Trulioo also recently launched a web-based front-end tool for GlobalGateway API queries.

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