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Trulioo unveils identity verification platform network growth, customer successes

Trulioo unveils identity verification platform network growth, customer successes

Trulioo has reached a new high match rate for its Person Match biometric identity verification software, which the company says has become market-leading.

The Person Match network has grown by 16 percent, and now includes “500-plus” partners, leading to faster verification times, lower onboarding costs and higher verification rates.

The software delivers flexible, intelligent data routing and sequencing with machine learning algorithms that configure data source matching during onboarding, Trulioo says.

Trulioo launched its Person Match identity verification platform a year ago to combine its selfie biometrics, liveness detection, identity document verification, data checks, watchlist screening, ongoing monitoring and fraud prevention capabilities.

Customer success stories include a $1.5 million annual revenue gain for a global remittance, payments and money transfer organization that was able to onboard 20,000 new users in the U.S. with Trulioo’s technology. A global brokerage improved its verification rate across 6 markets by up to 12 percent for over $230,000 in extra annual revenue, and an online marketplace described as one of the world’s largest improved its verification rate by up to 11 percent across 10 markets, onboarding 700,000 new users.

“Through multiple innovations, including increased data sources across the countries we serve, Trulioo plays a key role in Veem’s ability to ensure person and business identity verification,” says global payment platform Veem’s Director of Risk and Operations Vishal Joy. “More data means more coverage and improved flexibility for us to do business with no added cost. The Trulioo platform has proven to be the right solution with the right support, allowing us to grow and scale our business.”

“Trulioo leads the market by delivering a state-of-the-art identity platform with unique customization capabilities, intelligent routing and data excellence that drive exceptional match rates and performance improvements,” says Steve Munford, Trulioo CEO. “Our agile identity platform provides data source verification in milliseconds and embodies the innovative spirit organizations rely on to overcome onboarding challenges today and in the future.”

Trulioo’s platform for biometric onboarding was recently selected by Canadian fintech EQ Bank.

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