Trulioo Can Now Verify Customers in 4 New Countries

To 100 countries and beyond! Identity verification specialist Trulioo announced this week it is bulking up the list of countries for which it is able to conduct electronic identity verification (eIDV).

Customers in Bahrain, Georgia, Iceland, and Qatar can now be verified via GlobalGateway, a database that enables organizations to run identity verification checks on a wide range of the global population. GlobalGateway’s online eIDV service helps businesses comply with AML and KYC rules, as well as a range of international electronic identity verification requirements. The service offers organizations real-time access to more than 400 data sources to verify five billion people in more than 100 countries.

Each of the four countries has recently enhanced its efforts to counter online fraud. For Bahrain and Iceland, this move was motivated by the Financial Action Task Force (FATF), which said that Bahrain needed to bolster its AML and Counter Terrorist Financing (CTF) systems. The task force also recommended that Iceland take steps to mitigate money laundering.

Qatar recently created a Memorandum of Understanding signed by both the country’s General Authority of Customers and the Financial Information Unit. And Georgia is participating in an EU partnership program to promote AML and Counter Terrorist Financing (CTF) in accordance with European and international standards.

“Fraud and money laundering have hit these four countries especially hard and as a result they are navigating complex regulatory waters. Adhering to strict compliance requirements while successfully fighting financial crime is no easy task,” said Stephen Ufford, CEO and founder of Trulioo. “By extending our identity verification capabilities, organizations can quickly verify the identities of consumers in these markets, while also increasing trust, privacy, and access to digital financial services.”

Combined, these four countries have more than 8 million residents. Being able to verify identities of this group places Trulioo one step closer to its mission to provide (KYC) and AML-compliant identity verification for every individual around the globe.

In addition to today’s four countries, Trulioo recently added Malta, Bangladesh, Poland, and the Philippines to its Global Gateway coverage. The company is now able to verify more than two-thirds of the world’s population.

In addition to Global Gateway, Trulioo offers a data exchange platform that allows data partners to provide access to consumer data for electronic identity verification purposes, allowing them to set bid prices for electronic ID verification on a region-by-region basis.

At FinovateSpring 2019, Trulioo’s Head of Growth, Anatoly Kvitnitsky, demonstrated GlobalGateway’s instant onboarding with EmbedID. EmbedID enables businesses to query Trulioo’s GlobalGateway API and instantly verify customers in multiple markets by embedding a snippet of code to their website. Trulioo will demo its latest technology later this year at FinovateFall, which begins September 23rd in New York. Register today to be part of the action.

Finovate Alumni News

On Finovate.com

  • HSBC Creates Private Banking Portal with Finantix
  • Trulioo Can Now Verify Customers in 4 New Countries
  • AI Foundry Adds Mortgage Document Modeling to its Automation Platform
  • HiddenLevers and First Rate to Improve Risk Analytics for Wealth Managers
  • DemystData Signs Two Year Agreement with Kyckr
  • YSEOP Garners $9.3 Million in New Funding Round

Around the web

  • Xceptor appoints former GBST exec as new COO.
  • eToro has launched a portfolio of firms involved in Facebook’s new digital currency Libra.
  • Jumio to power digital identity for Brazil-based BTG Pactual.
  • Settle launches its mobile payments app in Croatia.
  • Worldpay and the University of Cincinnati partner to fill business talent shortfall.
  • Coast Capital Savings teams with OnDeck to offer small business members financing options.
  • Scooter fleet company Spin joins Passport’s micro-mobility pilot program.
  • First Rate and HiddenLevers partner to provide risk analytics and business intelligence to the wealth management industry.
  • BeSmartee announces direct integration with private mortgage insurance provider Arch MI.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Trulioo Teams with Refinitiv for Financial Inclusion

Identity verification company Trulioo announced this week it will be promoting financial inclusion across the globe via a new partnership with financial market data provider Refinitiv.

The two are hoping to foster financial inclusion by promoting access to digital identity solutions. By combining Trulioo’s GlobalGateway solution with Refinitiv’s risk intelligence, banks can verify billions of customers online while remaining compliant with AML and KYC regulations and ultimately reduce fraud.

“The combination of Refinitiv’s trusted data and compliance expertise and Trulioo’s identity verification capabilities and global coverage, will bring modernized KYC processes to thousands of financial institutions around the world, and in turn, help millions of underbanked gain access to the financial services they deserve,” said Stephen Ufford, CEO of Trulioo. “Both organizations share a common mission of supporting financial inclusion through the power of world-class data and technology.”

Trulioo’s GlobalGateway maintains information on more than 5 billion people. Combined with Trulioo’s Digital Identity Network, the GlobalGateway database enables organizations to run identity verification checks on a wide range of the global population.

Founded in 2011, Trulioo leverages 400 data sources to offer verification of 4.5 billion personal identities and 250 businesses in 80+ countries. The Canada-based company also offers a data exchange platform that allows data partners to provide access to consumer data for electronic identity verification purposes, allowing them to set bid prices for electronic ID verification on a region-by-region basis.

At FinovateSpring 2019, Trulioo’s Head of Growth, Anatoly Kvitnitsky, demonstrated GlobalGateway’s instant onboarding with EmbedID. EmbedID enables businesses to query Trulioo’s GlobalGateway API to instantly verify customers in multiple markets by embedding a snippet of code to their website.

Finovate Alumni News

On Finovate.com

  • Mastercard’s Mobile Payment Service Pay by Bank Teams Up with Yoyo.
  • Trulioo Teams with Refinitiv for Financial Inclusion.
  • Workfusion Brings Robotic Process Automation Global with New Partnership.
  • OneSpan Unveils its Secure Agreement Automation Solution.

Around the web

  • Splitit (formerly PayItSimple) announces partnership with Hong Kong-based EFTPay.
  • bpm’online launches its new tool for collaborative process design, bpm’online Studio Free.
  • Wipro to acquire digital engineering and manufacturing solutions firm, International TechneGroup Inc. (ITI).
  • Business Cloud UK interviews Andrew Bud, CEO and founder of Best of Show winner, iProov.
  • Four Finovate alums – Digital Onboarding, Gremlin Social, Voleo, and Neener Analyticsearn spots in the fourth Venture Center FinTech Accelerator program sponsored by Fidelity Information Services.
  • Inside Secure ships Whitebox Designer, a new software security tool.
  • Featurespace to power transaction monitoring for Permanent TSB.
  • Jumio wins the 2019 Fortress Cyber Security Award for Authentication and Identity from the Business Intelligence Group.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Tink Secures Strategic Investment from PayPal.
  • InComm Buys Hallmark Cards Subsidiary.

Around the web

  • ACI Worldwide makes strategic investment in Indian digital payments company Mindgate Solutions.
  • Currencycloud and VISA forge partnership to fuel innovation in cross-border and travel payments.
  • Trulioo partners with Refinitiv to improve access to digital identity solutions.
  • German open digital identity scheme yes.com to integrate into Signicat’s Digital Identity Platform.
  • Splitit appoints former Intuit and PayPal Exec to lead North American operations.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • SoFi Announces $500 Million Investment Led by Qatar.

Around the web

  • Trustly launches automated invoice payment solution, Pay Your Invoice.
  • PayPal reaches $10 billion in small business loans issued via its business financing offerings.
  • Mastercard and UOB partner to introduce the UOB Retail Business Metal Card designed for APAC SMEs.
  • Kofax launches its Intelligent Automation software platform.
  • Brazilian exchange brokerage, Frente Corretora de Cambio, goes live with cross-border remittance solution powered by Ripple technology.
  • Fenergo unveils a new suite of CLM tools, Digital Client Orchestration.
  • Trulioo named best identity verification and authentication solution at 2019 CNP Expo.
  • KyckGlobal partners with InComm to provide same-day pay to gig workers.
  • Sam Kilmer offers 3 takeaways of FinovateSpring 2019 in 3 minutes.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • eToro’s eToroX Unveils Cryptocurrency Exchange.
  • CardFlight Expands to Offer Payment Terminal Hardware.

Around the web

  • Klarna launches Mindful Money, a financial management content hub for consumers.
  • Avaloq launches avaloq.one, a collaborative platform to help financial services companies work with fintechs.
  • NICE unveils IntelliAgent, a solution that provides employees with real-time compliance and authentication capabilities.
  • Kantox appoints Maria Chamorro as its new Chief Financial Officer.
  • Trulioo adds Malta to its Global Identity Verification coverage.
  • ieDigital shortlisted for Excellence in Open Banking and Best Rebrand awards at the Credit Awards 2019.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

FinovateSpring Sneak Peek: Trulioo

A look at the companies demoing live at FinovateSpring on May 8 through 10, 2019 in San Francisco, California. Register today and save your spot.

Trulioo presents EmbedID, a fast and simple way for startups and developers to verify customers across multiple markets while supporting AML/KYC compliance requirements.

Features

EmbedID will allow companies to:

  • Integrate and test Trulioo’s identity verification API in minutes
  • Fully customize onboarding fields and forms
  • Verify customers in real-time

Why it’s great
With only a few lines of code embedded into any website, Trulioo’s EmbedID enables organizations to verify over five billion identities worldwide.

Presenter

Anatoly Kvitnitsky, Vice President of Growth
Kvitnitsky has a wealth of experience working in fintech and identity markets, and is committed to helping solve identity challenges that organizations face in scaling their products for global use.
LinkedIn

Finovate Alumni News

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  • NIIT Technologies to Acquire WHISHWORKS IT Consulting.
  • How Flywire Uses Machine Learning.

Around the web

  • NetGuardians partners with the University of Applied Sciences and Arts in Western Switzerland to improve ML and AI software for financial fraud detection and prevention.
  • Brewin Dolphin, one of the U.K.’s largest wealth managers, selects Avaloq’s software as a service solution for its back office infrastructure.
  • The Paypers: Worldline rolls out payment solution for online marketplaces.
  • Payjo relaunches as Interface.ai with a new interface, a new brand, and a platform for intelligent virtual assistants.
  • TurnKey Lender receives accreditation from the Singapore government’s IMDA, a certification that enables companies to expand into international markets easier.
  • Mambu to open a second North American-based office this year.
  • Authority Magazine interviews Ed O’Brien, CEO of eMoney Advisor.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Global: Fintech News from Around the World

As Finovate goes increasingly global, so does our coverage of financial technology. Finovate Global: Fintech News from Around the World is our weekly look at fintech innovation in developing economies in Asia, Africa, the Middle East, Latin America, and Central and Eastern Europe.

Sub-Saharan Africa

  • Mastercard partners with Kenya-based PSP, DGO Group, to enable 40,000+ African merchants to accept Mastercard payments.
  • Forbes looks at the founding role of women in Africa’s fintech industry.
  • QuartzAfrica’s review of 2018 begins with a discussion of partnerships between Nigerian fintechs and “global payment giants.”

Central and Eastern Europe

  • Estonian fintech startup CostPocket wins Rockstart pitch competition at the Digital Freedom Festival.
  • Trulioo announces its ID verification services are now available in the Czech Republic and Slovakia.
  • Russia-based Oz Forensics wins Fintech Startup of the Year award at India FinTech Awards 2018.

Middle East and Northern Africa

  • ACI Worldwide helps the National Bank of Kuwait launch Swift’s global payments innovation (gpi).
  • Albawaba asks “What UAE Startups Should Expect in 2019?”
  • Daily Sabah calls 2018: “The Year of Million-Dollar Startups in Turkey.”

Central and South Asia

  • InstaReM introduces new feature to enhance ability to make multi-currency payments to multiple beneficiaries.
  • Pakistan’s CareemPay is the latest fintech to challenge the country’s payment industry.
  • Indian government announces new initiatives to support fintech innovation.

Latin America and the Caribbean

  • Forbes profiles “corporate credit cards for startups” specialist Brex and the potential of the company to expand to Brazil by 2021.
  • Mexico’s El Empresario considers the potential for the country’s fintech sector in 2019. In Spanish.
  • iProUP’s Mundo Fintech looks at the fintech industry in Argentina i the wake of the financial crisis. In Spanish.

Asia-Pacific

  • Chinese ride-sharing company Didi Chuxing launches in-app financial services including credit, financing solutions.
  • PaySend inks payments partnership with Vietcombank.
  • TechCrunch features Chinese online consumer lending platform, 360 Finance.

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