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Trulioo selfie biometrics secures 4 new banking customers

Trulioo selfie biometrics secures 4 new banking customers

Trulioo added four new customers in the banking industry to its biometric identity verification service, according to a statement made by the company.

Trulioo says it now counts Bambu Systems, Guardian Gold, Nerve, and Simba as financial institutions that will use its GlobalGateway identity verification solution for know your customer (KYC) and anti-money laundering (AML) compliance requirements. GlobalGateway verifies identities through a variety of means, including selfie biometric services. The new customers range from a bank that focus on improving access to banking for the unbanked via mobile devices; gold and silver storage; banking specialized for musicians; and a digital bank that primarily serves immigrants in the U.S.

“Both legacy and challenger banks trust Trulioo and its range of solutions to scale innovative global compliance programs while delivering positive customer experiences. We’re pleased to partner with these organizations to continue to support their compliance and risk mitigation initiatives and to help them onboard customers around the world,” says Steve Munford, CEO of Trulioo.

Munford cited Trulioo’s research that found when a financial firm integrated real-time identity verification as part of their onboarding, 83 percent of people were less likely to abandon the account creation process. He also says that 80 percent of consumers trusted brands more if they use identity verification, compared to those that did not.

The additions to Trulioo’s line of customers follows recent business deals to supply selfie biometrics to the financial services industry, such as with PassFort in January and six cryptocurrency-related businesses in December 2021.

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