Trulioo, an industry-leading identity platform with proven global coverage for person and business verification, today announced market-leading match rate performance fueled by data science, market expertise and ongoing, cutting-edge innovation.

“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”

The Trulioo platform’s state-of-the-art Person Match verification capability delivers flexible, intelligent data routing and sequencing with machine learning algorithms to configure the precise combination and progression of data source matching during onboarding. Person Match calibrates to industry and regional nuances across 75 top-transacting countries to ensure best-in-class performance and results.

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Trulioo has increased its Person Match network by 16%, to an industry-leading 500-plus partners, since the platform launch, providing additional options to verify more than 3.2 billion people in 20 countries. That has led to faster verification times, reduced onboarding costs and higher verification rates.

“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,” said Vishal Joy, director of risk and operations at Veem, a global payment platform fueling more than 800,000 businesses in more than 100 countries. “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 proprietary algorithms and onboarding optimization are setting new benchmarks in performance and value for banks, payment providers, fintechs, foreign exchanges, marketplaces and social media companies worldwide. Its best-in-class benchmarking outperforms competitors and delivers verification rate increases while optimizing the cost of onboarding good, verified users.

• Optimized onboarding for a global remittance, payments and money transfer organization yielded 20,000-plus new users in the U.S. and an estimated annual revenue gain of $1.5 million
• Trulioo optimization for an industry-leading global brokerage led to a verification rate improvement of up to 12% across six markets, resulting in an estimated $238,000 annual revenue increase
• One of the world’s largest online marketplaces gained verification rate increases of up to 11% across 10 markets while onboarding 700,000-plus new users

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The Trulioo commitment to ongoing optimization, data science and never-ending innovation allows organizations to rapidly onboard people and businesses while mitigating fraud and meeting regulatory requirements anywhere in the world.

“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,” said 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 accelerates match rate precision through the world’s largest data network and gives its partners the ability to fine-tune onboarding for speed and efficiency. Organizations can customize their identity verification flows and data access to streamline onboarding for compliant industry- and country-specific use cases.