Announced at Money20/20, Trulioo will be offering real-time identity verification coverage in India. With India’s growth rate expected to surpass China’s in 2016, Trulioo has received high demand for identity verification coverage in India that will help streamline Anti-Money Laundering (AML) and Know Your Customer (KYC) processes for cross-border transactions, including payments and ecommerce.
“Jumping 16 spots in the World Economic Forum’s global rankings for competitiveness, India is the world’s fastest-growing major economy,” said Jon Jones, President of Trulioo. “Businesses from around the globe are making a beeline for India and we are helping them tackle one of the biggest challenges by streamlining their regulatory compliance process from both within India and across multiple jurisdictions.”
As a result, Trulioo is working with various enterprise customers adding ID verification services in the region, lending further support to a recent study by domestic e-commerce player Snapdeal and KPMG that showed a surge of e-commerce and overall economic activity in India.
“We are committed to providing our clients with greater efficiency, effectiveness and agility by streamlining their AML/KYC process,” said Jones. “Using the REST architecture, Trulioo’s Normalized API is built for scalability and flexibility to meet our clients’ demand for interoperability and growth into international markets.”
With the addition of India coverage, Trulioo clients now have real-time access to over four billion identities from over 40 countries through its GlobalGateway platform, to instantly meet global compliance and enhanced onboarding requirements. Trulioo currently provides frictionless identity verification services for more than 300 global clients, including Stripe, Square, PayPal, WorldRemit, and Kickstarter.
Trulioo was founded in 2011 with a mission to solve global problems associated with verifying identities online. By building a framework of trust online and implementing comprehensive privacy practices that fuses both traditional and alternative identity data, we are a step closer to achieving full financial inclusion.