Trulioo provides an alternative to the complex array of vendors that companies often depend on to ensure reliable person matching through personally identifiable information (PII) and identity documents. The Trulioo platform streamlines the verification of good users through intelligent transaction routing that improves match rates and helps businesses accelerate customer onboarding.
A highly regulated international business environment demands comprehensive, accurate identity verification. But global companies facing stringent regulatory compliance requirements for person matching often resort to multiple vendor solutions, creating complex, time-consuming, tiered functions that result in additional expense and decreased efficiency.
Trulioo streamlines identity verification and reverification with automated workflows that identify optimal combinations of PII matching, ID documents, and watchlists to efficiently verify the right customers. Those capabilities eliminate the need for multiple vendors and complex solution waterfalling. The result is streamlined and efficient identity verification that aligns with the demands of a dynamic regulatory landscape.
Officials from Trulioo said that a fragmented approach to person matching through multiple vendors has been a necessary evil in the industry because incomplete products have failed to meet the challenges of diverse demographics and regional limitations. The Trulioo breakthrough approach eliminates the need for redundant, complex multivendor verification systems, enabling organisations to quickly and intelligently onboard customers and gain a competitive advantage.
Leveraging enhanced artificial intelligence and machine learning, Trulioo helps organisations assess millions of configurations to ensure the right balance of performance, job processing time and cost. The company applies smart, data-based business logic to adjust in real-time to customers’ PII and funnel them to the most optimised onboarding workflow. That approach ensures maximum performance and good, verified users.
A global brokerage and trading platform serving institutional and individual investors has leveraged the Trulioo platform for customised Know Your Customer person match onboarding in 20 markets and Know Your Business in the US Trulioo machine learning algorithms analysed millions of configurations weighted for cost, performance, and job processing time. Trulioo also introduced new thin-file specific, multibureau sources and adapted the company’s verification waterfall.
As a result, the company’s verification rates jumped more than 7%, which decreased costs per verified user, manual reviews, and abandonment. The company’s job processing time dropped by 35%, as reported by Trulioo.
Trulioo is dedicated to verifying the identity of anyone and any business around the world. The company’s identity platform drives global growth for organisations by helping them navigate the challenges of compliance and providing real-time verification of more than 5 billion people and 700 million business entities worldwide. By leveraging technology designed to make identity verification faster and more efficient, Trulioo is opening the door to the digital economy for everyone.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now