Global identity verification platform Trulioo has released new offerings in order to expand globally and to further improve business automation processes. Following this announcement, Trulioo will provide a fully end-to-end Know Your Business (KYB) service that was designed to automate the manual verification procedure, in order to confirm that the individual is legitimate and suitable to collaborate with.

This aims to reduce the time allocated to the onboarding process and make it more secure and seamless. The company will leverage artificial intelligence to improve the way organisations and firms streamline individual and business verification at a global scale. The Trulioo global identity platform is able to perform Know Your Customer (KYC) checks on a company’s ultimate beneficial owners in the same workflow.

Trulioo will also provide its customers with breadth for person verification, which has approximately 500 integrated personally identifiable information and data sources, 12,000 identity document types, as well as 6,000 watchlists with recently expanded area coverage and localisation support for worldwide use cases. As businesses continue to embrace the digitalisation of communities and transactions, a comprehensive, efficient, and secure verification process is important for combating fraud. According to the press release, Trulioo is set to unveil additional details about the platform improvements on the Money20/20 Europe event, held in Amsterdam on June 8th, 2023.

Trulioo’s strategy of development Canada-based company Trulioo offers its clients electronic identity and address verification services for all kinds of customers, such as individuals, merchants, traders, and businesses. The firm had multiple partnerships in the last couple of months, covering numerous geographies. The company represented an important partner of The Paypers for the launch of the Financial Crime and Fraud Report 2023, published in May.

The comprehensive report delved into the ever-evolving landscape of financial crime and fraud detection, and it focused on shedding light on the importance of courageous endeavours to combat these threats. Earlier in January, Trulioo launched its global identity verification platform, which aimed to enhance the way clients and customers archive secure regulatory compliance and optimise their overall growth. Following the launch, the users of the firm were given the ability to use the new platform, which provided them with a suite of global verification services and products, including no-code workflow building and low-code integration solutions.

The users were enabled to sign a contract and benefit from all the features that the platform had to offer at the moment, such as personal access to identifiable information matching, anti-fraud capabilities, utility data for proof of address, ongoing monitoring, business verification for in-depth person-of-significant-control, identity document verification, watching setlist, as well as ultimate-beneficial-owner verification. .