Trulioo expands collaboration with Nium

As part of their expanded partnership, Trulioo aims to solidify Nium’s UK operations by eliminating the need for extensive administrative or engineering efforts. The company plans to enable Nium to comply with KYC, AML, and counter-terrorist financial controls required by money service business licences in several markets. By leveraging Trulioo, Nium is set to be able to meet these compliance requirements while also offering the verification speed, precision, and security customers demand and expect. According to Nium’s officials, Trulioo Person Match can provide the company with comprehensive data sets, which are a fundamental part of identity verification. Through its solutions, Trulioo aims to optimise verification speed and pair rates with proprietary algorithms, global and local data source coverage, and source sequencing.

Furthermore, since the expansion of its alliance to the UK, Nium increased its overall verification rate by nearly 27%, now being able to verify customers in less than seven seconds, as per the company’s data. By continuing to work together, Trulioo underlines its commitment to delivering improved capabilities that can meet Nium’s evolving needs. In addition, the current move underscores the two companies’ mutual objective of enhancing compliance standards, security, and customer experience in financial services. Representatives from Trulioo mentioned that their company’s global coverage and integrated APIs are set to deliver data sets that accelerate verification and advance market expansion without elaborate infrastructure services. With its business and person verification capabilities, Trulioo covers 195 regions and can verify more than 13,000 ID documents and 700 million business entities while checking against more than 6,000 watchlists. The company’s suite of in-house features, implemented across a single automated platform, work towards enabling tailored onboarding workflows that can meet market requirements. By merging its technology with verification knowledge across diverse markets, Trulioo intends to allow increased verification assurance levels, while also optimising onboarding costs, and fostering trust in the global digital economy.

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