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Trulioo sees accelerated growth in 2023 after identity verification platform launch

Categories Biometrics News  |  Trade Notes
Trulioo sees accelerated growth in 2023 after identity verification platform launch

Trulioo saw rapid growth in 2023 after the successful launch of its identity verification platform and an increase in KYB interest, according to an announcement.

A survey of new customers found that 65 percent chose Trulioo’s platform with customizable workflows for its fast, flexible integration. Notable customers include three of the five top U.S. banks, six of the leading seven digital payments processors, and a number of prominent online marketplaces, international foreign exchange brokers, and crypto exchanges.

It has also recently partnered with Public, Syngrafii, and Consensys, among others. The company was among the top five in technology excellence for the Quadrant Knowledge Solutions SPARK Matrix: Identity Capture and Verification 2023, the announcement notes.

From 2023, Trulioo saw a 586 percent growth in the adoption of its KYB verification services in the U.S. since the year 2020. The company opened a new international headquarters in Vancouver this year. It was named a Deloitte North America Technology Fast 500 company and a leader in Deloitte’s Canadian Technology Fast 50 program.

Trulioo’s identity platform offers a suite of personal and business verification services. It has expanded the number of accepted documents to over 13,000 and enhanced OCR to cover more than 20 language character sets.

Customers can check company details and identify and verify owners and those in leadership by mixing and matching document verification, PII, and business verification into one workflow. Forty percent of new customers adopted the end-to-end business verification. Trulioo’s face biometric software is iBeta level 2 certified.

“We have built an incredible suite of technological capabilities, as reflected in the remarkable adoption rate of our identity platform since its 2023 launch,” said Trulioo CEO Steve Munford in the announcement. “We take immense pride in our accomplishments and will bring the same spirit of innovation and growth into 2024,” he continued.

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