Canada’s EQ Bank taps Trulioo for ID verification solution
Equitable Bank (EQ Bank) has partnered with Vancouver-headquartered identity verification solutions vendor Trulioo to improve its customer and business onboarding processes.
Trulioo to enhance EQ Bank’s ID verification operations
The Toronto-based digital bank of Canada’s Challenger Bank has chosen Trulioo’s Business Verification system, Workflow API and Identity Document Verification solution in an attempt to enhance its services for its “rapidly growing customer base with the speed, security and experience they deserve”, says Mahima Poddar, SVP and group head of personal banking at EQ Bank.
The challenger decided upon Trulioo’s verification software packages following a “thorough market assessment”. The results found that the fintech’s ID solution would aid in safeguarding the bank from fraud due to the programme’s sophisticated liveness detection, advanced AI checks and face comparison capabilities.
“Partnering with Trulioo allows us to continue meeting our regulatory requirements while providing tailored, best-in-class customer onboarding experiences with the least friction and the highest chance of verification,” Poddar adds.
The news follows JP Morgan Payments’ selection of Trulioo to power its personal and business identity verification services last October.
