Financial services providers rely on identity verification for seamless and secure customer onboarding

Trulioo, the global identity verification leader, announced four new banking customers : Bambu Systems, Guardian Gold, Nerve and Simba. With Trulioo GlobalGateway, the world’s largest network of identity data and services, financial institutions can deploy identity checks that help them satisfy Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance requirements.

“Expectations are at an all-time high when it comes to digital experiences and Trulioo is proud to help organizations meet their customers’ needs,” said Steve Munford, CEO, Trulioo. “At the onset of the pandemic, we examined consumer perceptions around digital account opening. We found that when a financial services firm incorporated real-time identity verification as part of their onboarding, 83% of people were less likely to abandon the account creation process.”

Marketing Technology News: Experience a New Level of Accuracy in Your Cost Aggregation

In addition to adverse effects on customer acquisition, poor onboarding experiences detrimentally impact brand perception, with Trulioo research revealing that 80% of consumers held greater trust in brands that use identity verification as opposed to those who didn’t.

“Both legacy and challenger banks trust Trulioo and its range of solutions to scale innovative global compliance programs while delivering positive customer experiences. We’re pleased to partner with these organizations to continue to support their compliance and risk mitigation initiatives and to help them onboard customers around the world,” added Munford.

Marketing Technology News: MarTech Interview with Laura Taylor, CMO at Crayon

The following financial services providers are amongst Trulioo’s growing roster of customers around the globe:

• Bambu Systems, a digital bank advancing financial inclusion by offering services and products for the unbanked.
• Guardian Gold, a subset of Guardian Vaults, provides a seamless solution for buying and storing physical gold and silver bullion.
• Nerve, the embedded banking platform for the creator economy.
• Simba, a digital bank with a focus on financial products for immigrants in the U.S., offers a mobile platform, no fee banking and free international transfers.

GlobalGateway provides access to over 400 data sources to reliably and securely verify the identities of over 5 billion individuals around the world through one API.