Trulioo rolls out real time verification solution using AI

The solution is offered through the GlobalGateway platform and provides clients with the ability to automatically validate company vitals – including business registration number, company name, address, status, key management personnel, and date of incorporation – by querying hundreds of government registers and public records in real-time.

Thus enterprises are enabled to perform due diligence on business entities around the world to determine the authenticity of the business in order to help organisations detect fraudulent behaviour and criminal activity, such as tax evasion and money laundering.

The workflows are automated by using Optical Character Recognition (OCR) technology, doubled by Artificial Intelligence (AI) and Natural Language Processing (NLP) that allocate extracted data into searchable fields delivered into a formatted and consumable report, which can be reviewed during the due diligence process.

Clients also have the option to request business registration documents – containing shareholder information and annual reports – from the applicable in-county register, identify the primary beneficiaries or Ultimate Beneficial Owners (UBOs), and perform watch list checks.