Canadian credit card issuer Collabria Financial taps Trulioo for ID verification tech
Collabria Financial Services has partnered with Trulioo, a Vancouver-headquartered identity verification solutions provider, to streamline the verification process for issuing credit cards to Canadian credit unions.
Collabria Financial partners with Trulioo for ID verification tech
Credit unions onboarding new cardholders through Collabria’s digital channels will now be able to verify the identity of applicants using Trulioo’s identity platform.
“As Collabria’s operations continue to grow, the integration of Trulioo will allow the full automation of their Know Your Business review in addition to their current Know Your Client process,” a joint statement on the integration reads.
Launched last year following Trulioo’s acquisition of HelloFlow, the platform is said to be able to verify more than 14,000 ID documents and 700 million business entities across 195 countries worldwide, while also checking against more than 6,000 watchlists.
Jean-Marc Handfield, CEO of Collabria Financial, anticipates the platform’s integration culminating in “a more streamlined, customer centric process” while “elevating our measures against fraud”.
Credit card processing will be handled by Co-op Solutions, with which Collabria renewed its full-service partnership in March of last year.
Founded in 2015, Calgary-based Collabria Financial claims to serve as a credit card issuer to 98% of credit unions in Canada, operating as a subsidiary of the $414.1 billion-asset Desjardins Group, the fifth largest cooperative financial group in the world.
