Trulioo, a global identity verification platform, has introduced new Workflow Studio capabilities to expedite person matching on a global scale.
Addressing a persistent issue, Trulioo offers an alternative to the complex assortment of vendors often relied upon by companies for accurate person matching through personally identifiable information (PII) and identity documents. The platform simplifies the verification of legitimate users via intelligent transaction routing, enhancing match rates and facilitating swift customer onboarding.
Trulioo’s novel Workflow Studio capabilities aim to accelerate worldwide person matching.
Resolving a long-standing challenge, the heavily regulated international business landscape necessitates thorough and accurate identity verification. However, companies with global operations confronted by strict regulatory compliance standards for person matching frequently adopt multiple vendor solutions. This approach results in convoluted, time-intensive processes, higher costs, and diminished efficiency.
Trulioo addresses this by automating identity verification and re-verification through workflows that optimize PII matching, ID documents, and watchlist screening. This eliminates the need for multiple vendors and complex solutions, streamlining identity verification to align with dynamic regulatory requirements.
Trulioo leverages advanced artificial intelligence and machine learning to assess countless configurations, ensuring optimal performance, processing time, and cost balance. The company utilizes data-driven business logic to dynamically adjust to customers’ PII, directing them to the most efficient onboarding workflow. This approach maximizes performance while authenticating legitimate users.
A notable example is a global brokerage and trading platform, which utilized Trulioo for tailored Know Your Customer person matching in 20 markets and Know Your Business in the US. Trulioo’s machine learning algorithms evaluated configurations based on cost, performance, and processing time. This led to a verification rate increase of over 7%, reducing costs, manual reviews, and abandonment. Job processing time also saw a 35% reduction.
Trulioo is committed to verifying identities worldwide, supporting global growth by aiding compliance challenges and offering real-time verification for over 5 billion individuals and 700 million businesses. Through technology that expedites identity verification, Trulioo paves the way for broader participation in the digital economy.
By FCCT Editorial Team
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