Identity verification firm Trulioo on Tuesday launched a new global identity platform for Person and Business verification. Trulioo so far sold multiple identity products, each operating in their own silos. Their products and services range from person and business verification, to no-code workflow building, low-code integrations, and anti-fraud measures. The new platform combines all these solutions into a single contract for clients who can use the platform to access information matching, identity document verification, proof of address through utility data, in-depth business verification, and watchlist screening with ongoing monitoring. The silo products already being offered are well-integrated into the new platform, and our customers can continue to access them through the APIs as they do today, but we have added all of the no-code and low-code tools to it, Michael Ramsbacker, chief product officer at Trulioo said. Currently, Trulioo caters to the payment services, cryptocurrency exchanges, ecommerce firms, and banking or fintech clients. The new platform is targeted at large enterprises, which have a global presence. The customers can utilize the platform over 70 countries on a daily basis. With the new platform, the customers can use our expertise in areas such as how to do business verification in China, how to have a regulatory compliant person or individual on-boarding in Canada. We have that knowledge built into our platform, Ramsbacker said. Once a customer is onboarded to the Trulioo platform, they can build workflows that take users through a series of steps collecting personal identifiable information, document evidence etc. Organizations can then deploy the workflows using low-code capabilities of the platform. If an organization has its own user interface, they can integrate with the Trulioo platform and the workflows through an API. This will allow them to leverage all the business logic in the workflow while maintaining the user interface on the organizations end, the company said. As part of the new offering, Trulioo is also launching Trulioo Portal, providing single sign-on access to all verification services, no-code and low-code integration methods, auditable reporting and performance analytics. The capabilities also include an on-device single point keying that can be used to capture government-issued identity document images and selfies for document verification capabilities. Trulioo charges a consumption-based transaction fee from customers for each transaction on the platform. All existing customers will get access to the new capabilities of the new platform starting Tuesday, the company said. Organizations want to onboard as many good users as possible and prevent as many bad actors as possible. If they are operating in multiple countries, they are dealing with a volume of changing regulations that differ from country to country. To manage this, the customer organization needs to rely on 5-25 different identity vendors that provide different point solutions, Ramsbacker said. The value proposition of Trulioo is the built in capabilities on the platform that allows organizations to build the workflows to manage the onboarding and have the appropriate fraud prevention steps and change workflows as regulations evolve. Trulioo platform will reduce the number of vendors that organizations need to stitch together, Ramsbacker claimed.
This Cyber News was published on www.csoonline.com. Publication date: Tue, 31 Jan 2023 13:05:02 +0000