Trulioo Continues to Accelerate Growth in 2023, Fueled by Rapid Adoption of Its Identity Platform and an Eightfold Increase in KYB Business

Company Receives Industry Recognition for Global Identity Verification Platform

Trulioo, an industry-leading identity platform with proven global coverage for person and business verification, announced a significant increase in the adoption of its platform in the past year. The company, which opened a new international headquarters in Vancouver this year, also earned industry recognition following the 2023 launch of its global identity verification platform.

“Our global platform with in-house person and business verification delivers the agility customers need to rise to the challenges of today’s rapidly growing global economy. We take immense pride in our accomplishments and will bring the same spirit of innovation and growth into 2024.”

“We have built an incredible suite of technological capabilities, as reflected in the remarkable adoption rate of our identity platform since its 2023 launch,” said Steve Munford, Trulioo CEO. “Our global platform with in-house person and business verification delivers the agility customers need to rise to the challenges of today’s rapidly growing global economy. We take immense pride in our accomplishments and will bring the same spirit of innovation and growth into 2024.”

Enterprise Customer Base Expansion

Following the successful launch of its identity verification platform in early 2023, Trulioo deepened relationships with global banks, payment service providers, marketplaces, social media platforms, online trading enterprises and foreign exchanges. Among new customers, 65% chose the workflow capabilities of the Trulioo platform for fast, flexible integration.

Trulioo counts as its customers three of the five largest U.S. banks, six of the top seven global digital payment processors, five of the world’s leading online marketplaces, four of the top five international foreign exchange brokers and three of the four leading crypto exchanges. Recent strategic partnerships include J.P. Morgan Payments, Public, Syngrafii and Consensys.

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Industry Recognition

Trulioo received market recognition from Liminal Research, which found that an integrated identity platform can help companies streamline customer onboarding and reverification to deliver better user experiences and enhanced security.

Trulioo was named a leader in the Quadrant Knowledge Solutions SPARK Matrix™: Identity Capture and Verification 2023, securing a top-five position in technology excellence. The company’s identity platform, with a full suite of person and business verification services, delivers the highest onboarding assurance and eliminates the need for multiple point solutions.

Trulioo also earned recognition as a Deloitte North America Technology Fast 500™ company and was named one of Canada’s enterprise industry leaders in Deloitte’s Technology Fast 50™ program.

Continued Innovation

Identity document verification plays a critical role in onboarding across the globe, and Trulioo took steps to ensure customers have access to the most cutting-edge capabilities. That included expanding the number of verifiable documents to more than 13,000 and enhancing optical character recognition to cover more than 20 language character sets.

Trulioo also offers an unparalleled ability to enable customers to mix and match document verification and personally identifiable information checks. That mix-and-match capability extends to pairing data, identity document and business verification in a single workflow so Trulioo customers can automatically waterfall from checking company details to identifying and verifying ultimate beneficial owners or people with significant control. That end-to-end business verification capability saw significant market demand, with 40% of new customers adopting the capability.

The user experience is central to successful onboarding, which is why Trulioo also developed state-of-the-art document verification image capture for web and mobile. On top of those document verification advancements, Trulioo delivers iBeta level 2-certified facial biometric technology to remove onboarding doubt, strengthen security and build compliance confidence.

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