Article 2 min

Strong AML Compliance Program Enables Global Remittance Company’s Expansion

Remittance Company Case Study

January 30, 2024  

Customer onboarding is critical for global remittance organizations. It’s their first line of defense against money laundering and the first experience customers have with the company.

But remittance organizations have to strike a delicate balance between ensuring AML compliance and providing a swift, smooth sign-up process. That presents a constant challenge because regulations and verification best practices differ widely across markets. 

Onboarding and compliance teams strive for fine-tuned onboarding that delivers optimized performance across borders, but that expertise is difficult to find. That’s why six of the world’s top 10 digital remittance companies trust Trulioo for digital identity verification. 

With deep local knowledge in countries around the world and a global network of data sources, Trulioo helps partners increase onboarding efficiencies without compromising speed, accuracy, compliance or the user experience.

Verification Optimization Fuels Onboarding Growth

One prominent remittance, payments and money transfer organization wanted to increase verification rates in four critical markets.

Through careful data set analysis, precise field combinations and rules tailored to each country, Trulioo elevated the remittance leader’s onboarding performance. 

  • Verification rate uplifts ranging from 2% to 21% in the markets
  • An estimated 20,000 new users onboarded annually in those markets
  • An estimated $1.5 million annual revenue increase

Trulioo examined performance in individual markets to determine the right balance of verification techniques and onboarding speed. That data-led audit ensured the organization’s configuration of sources delivered the best possible performance.

With the right verification tools and a commitment to value optimization, remittance organizations can accelerate customer onboarding while achieving compliance anywhere in the world.

Remittance Company Case Study

Case Study

Remittance Company Ramps Up Annual Revenue by $1.5 Million

Learn how Trulioo verification optimization fueled growth for a global organization.