Article 2 min

Trulioo Partners with Refinitiv to Fight Financial Crime and Champion Financial Inclusion

June 7, 2019  

We’re excited to announce that we have entered into a brand-new partnership with Refinitiv, a worldwide provider of financial markets data and infrastructure. The strategic partnership will deliver innovative solutions to enhance and expand access to digital identity solutions to help foster financial inclusion and fight financial crime.

“The combination of Refinitiv’s trusted data and compliance expertise and Trulioo’s identity verification capabilities and global coverage, will bring modernized Know Your Customer (KYC) processes to thousands of financial institutions around the world, and in turn, help millions of underbanked gain access to the financial services they deserve,” said Stephen Ufford, CEO and founder of Trulioo.

“Both organizations share a common mission of supporting financial inclusion through the power of world-class data and technology,” Ufford continued.

According to a survey recently released by Refinitiv, approximately 72 percent of businesses around the world are falling prey to financial crime and intend to increase spending by 51 percent to curb this trend. Consequently, many businesses are turning to new technologies to plug compliance gaps with cloud-based data, Artificial Intelligence (AI) and Machine Learning (ML).

“Our customers operate in a fast changing and dynamic market, and when it comes to managing their KYC, due diligence and financial crime risks, rapid changes in technology and digitalization continue to shape the support they need,” said Phil Cotter, Managing Director of the Risk business at Refinitiv. “The partnership between Refinitiv and Trulioo will build on our expertise with World-Check, and will focus on delivering faster innovation to help customers meet these new demands and in the process meet their regulatory obligations.”

Trulioo’s ability to verify five billion individuals through our marketplace of identity data and services, GlobalGateway, was an important factor in securing this partnership. Our global coverage combined with our proven ability to deploy solutions at scale on a global level, provides a solid strategic fit for Refinitiv’s global customer base and its focus on fighting financial crime.

Trusted by the world’s largest firms, Refinitiv’s solutions, including World-Check and World-Check One, simplify day-to-day onboarding and monitoring decisions to help meet regulatory obligations.