Trulioo: Verify Customers Online, Anywhere in Seconds

The Silicon Review

Having a “digital identity” is different from the way our private information is used/accessed today. Consider how we currently use our personal information in the online retail and banking arenas: Whether buying something from a retailer or logging in to a mobile-banking platform, we create and use a separate identity (user name/password) for each digital transaction/interaction. Digital identity means each person has their private information stored within a secure platform, and each person then authorizes businesses access to that information with the individual’s permission.

The founders, Stephen Ufford and Tanis Jorge, have over a decade of experience working in data-driven businesses. The duo garnered an intimate understanding of the data industry and recognized the limitations of the current identity verification system and the massive possibilities for the future. After successfully launching and exiting three startups together, they wanted their fourth company to be meaningful and impactful at a global scale.

Globally, there are an estimated 220 million children whose birth is not recorded, excluding China, where figures are unknown. More than 2 billion people in this world are unbanked and unable to access financial services, primarily due to a lack of traditional identity documentation. After witnessing the tremendous emotional reaction and sense of belonging experienced from the woman from India – resulting from creation of a digital profile (footprint), Stephen and Tanis knew their next business venture together would make a profound difference in this world, hence the launch of Trulioo.

Trulioo’s disruptive technology encapsulates the strengths of traditional ID verification and implements the latest capabilities in online tech today. Trulioo has developed a global ID verification solution that is not constrained by geography, economic status, age or gender, and available to any business or organization around the world at a low cost and frictionless manner – all with consumer privacy at the forefront.

Mission and Vision

It is Trulioo’s mission to verify the identity of the entire human population so that everyone, regardless of their circumstances, has access to essential services. Our dream is to help build a financially inclusive ecosystem where everyone can transact online as equals.

Their Offerings via the GlobalGateway platform:

Electronic Identity Verification

GlobalGateway’s online electronic identity verification (eIDV) service was developed for the international market. It was created specifically to help businesses comply with Anti-Money Laundering (AML) and Know Your Customer (KYC) rules, and support a diverse range of international electronic identity verification requirements.

Some of the world’s largest banks, online marketplaces, payment solutions, money transfer and remittance companies, financial service companies, cryptocurrency exchanges and more use GlobalGateway. GlobalGateway’seIDV service is used not only for identity verification, but also fraud prevention, risk mitigation, age verification, compliance, among a host of other purposes.

ID Document Verification

If a customer is not verified during the initial account creation process through eIDV or if a further level of fraud protection is desired, Trulioo clients can request the customer to upload a valid ID document online or through a mobile device and perform ID document verification. Trulioo’s document verification partner performs checks to ascertain if the document is authentic, legitimate and hasn’t been forged or altered in any way.

The combination of eIDV and ID Document Verification during the Customer Due Diligence check can assist you in meeting your Anti-Money Laundering (AML), Know Your Customer (KYC) and Counter Terrorist Financing (CTF) compliance requirements, as well as reducing the risk of fraud.

Business Verification

Trulioo offers on-demand business verification through GlobalGateway, a marketplace of identity data and services. Global Business Verification fully automates the retrieval of company vitals from government registrars worldwide to help streamline workflows for Know Your Business (KYB), Anti-Money Laundering (AML), Know Your Customer (KYC) and Customer Due Diligence (CDD) processes.

GlobalGateway provides real-time identification and verification of company records through official registers, completes an AML check of the business through international watchlist sources, uncovers the ultimate beneficial ownership (UBO) structure, and performs instant electronic identity verification for all individuals deemed to be UBOs.GlobalGateway analyzes, verifies and provides business intelligence on 250 million businesses in over 84 countries across the world.

Meet the innovative leader and CEO Stephen Ufford

Stephen Ufford has founded and successfully sold several data-focused startups during his career. In 2011, he launched Trulioo to help build a layer of trust and safety online, and with the mission to provide access to financial services to the billions of unbanked individuals around the globe. As a serial tech entrepreneur in the identity space, Stephen is well versed on the challenges and opportunities affiliated with identity verification, data privacy, risk and fraud prevention, and the ever-changing regulatory changes that impact emerging startups and global enterprises that have customers worldwide.