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Expanding customer base for selfie biometrics in crypto draws Trulioo to Singapore

Categories Biometrics News  |  Trade Notes
Expanding customer base for selfie biometrics in crypto draws Trulioo to Singapore

Immediately on the heels of announcing job cuts and a pivot to focus on higher-growth areas for its digital identity verification, Trulioo has announced the opening of an office in Singapore.

Trulioo Singapore will serve the company’s enterprise customer base in the Asia-Pacific region, which it says in the announcement is growing rapidly. Cryptocurrency makes up a significant share of Trulioo’s customer base for anti-money laundering, know your customer and proof of address checks, and Singapore is an important hub for crypto, according to the announcement.

Trulioo announced half a dozen customer wins for its selfie biometrics among crypto businesses in late-2021, in a ready example of the company’s traction within the fintech segment.

The expansion adds to Trulioo offices in Vancouver, Canada, and across Europe and North America.

“As businesses in the Asia-Pacific region continue to shape the future of our digital world, Trulioo is pleased to work alongside them to establish trust online,” says Steve Munford, CEO of Trulioo. “Ivan Yang, our APAC director, and his team are excited to work closely with our customers and partners in the region as they set the stage for innovation and technical advancement across industries.”

Trulioo is also participating in the Token2049 crypto even this week in Singapore, with Chief Compliance Officer Reno Mathews participating in a panel discussion on regulatory advances in the industry.

The company just announced it will cut its global workforce by 5 to 10 percent as it pivots away from the small business segment that has delivered little revenue.

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