Trulioo launches KYC tool to connect MNOs
Identity verification company Trulioo is extrapolating the use of its know your customer (KYC) solution to mobile network operators (MNOs). Available via Trulioo’s Global Gateway ID verification platform, the new authentication will be used in tandem with more than 200 data sources to help verify consumers’ identities during the onboarding process, reports Julie Muhn at Finovate (FinTech Futures’ sister company).
Specifically, Trulioo will work with 24 MNOs from the US, Canada, the UK, China, India, Spain, France, and Switzerland, all of which will offer data to help Global Gateway customers meet KYC compliance for mobile identity verification. Through this expansion, financial services providers can leverage mobile network carrier data combined with existing KYC data sources to meet KYC regulations. This will be helpful for businesses with clients in China, Spain, and France, three markets where it is particularly challenging to fulfill KYC compliance because of limited access to data.
Trulioo CEO Stephen Ufford says it has “long been heavily investing in MNO relationships” to grow the list of identity verification partners on its platform.
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.
Last May, the company teamed up with Mitek to add a layer of biometric authentication to its identity verification tool. Most recently, Trulioo expanded its services to add business verification in October of 2017.
