Major platform update provides enhanced proof of address and anti-money laundering offerings to support customers in navigating complex regulatory landscapes
Vancouver, BC – June 7, 2022 – Trulioo, the leading global identity verification company, today announced the release of a major product update to GlobalGateway, the company’s award-winning platform, that includes innovations in Anti-Money Laundering (AML) watchlist and proof of address offerings, and upgraded Know Your Business (KYB) verification capabilities.
Organizations are facing increased regulatory pressure to ensure they’re monitoring new and existing customers against applicable sanctions lists while meeting increased expectations from consumers for fast and easy digital onboarding. The GlobalGateway updates announced today are designed to support Trulioo customers in meeting these expectations and complying with complex and varied regulatory requirements around the world.
“As a global service provider, Trulioo must continuously innovate to meet an increasingly varied and diverse range of regulatory compliance requirements that our customers face every day,” said Michael Ramsbacker, Chief Product Officer, Trulioo. “We are dedicated to bringing forward solutions that address the changing needs of our customers and the market as a whole – both at the point of onboarding and beyond – and I am pleased to share that this GlobalGateway update does just that.”
The update includes the launch of enhanced GlobalGateway Watchlist, UtilityID, and upgraded Business Verification. Together these services streamline the onboarding of consumers and businesses, as well as provide continuous monitoring for fraud, money laundering and illicit behavior throughout the customer lifecycle.
GlobalGateway Watchlist is one of the most complete watchlist services on the market. It connects to customers’ eIDV onboarding journeys via a single API integration to provide screening and monitoring of an organizations’ users against 6,000+ global watchlists and 20,000+ Adverse Media lists – both at the point of onboarding and continuously thereafter.
UtilityID is a consent-based identity verification service that uses utility provider data to verify addresses, removing the need for the manual download, upload and scanning of documents and other high-friction document verification processes. This also presents a more secure way to obtain address verification as utility documents are easily forged. With UtilityID, Trulioo customers can meet proof of address compliance requirements in real time, provide a faster onboarding experience, a higher level of address accuracy, and significantly reduce operation times associated with manual utility document and ID document review.
The enhanced Business Verification offering allows companies to verify a business’ details anywhere in the world, from high-level data to stringent Ultimate Beneficial Owner verification. It leverages revolutionary intelligence to address the complex challenges of conducting business at an international level, including managing varying regulations, diverse standards for Business IDs, addresses and local languages, as well as automatically selecting the best-suited source of information. Trulioo’s unmatched global network of data sources allows KYB customers to easily access accurate and up-to-date information that supports compliance requirements and due diligence.
To learn more about how Trulioo is integral to future-proofing onboarding and compliance goals visit trulioo.com. Trulioo will be on site at Money 20/20 Europe, June 7-9, 2022, visit booth D124 or book a GlobalGateway demonstration.
Trulioo is the leading global identity verification company, building trust online so that businesses and consumers can transact safely and securely. Trulioo provides real-time verification of 5 billion consumers and 330 million business entities worldwide — all through a single API integration. Organizations rely on its identity verification platform, GlobalGateway, to help meet their business and compliance requirements and automate due diligence and fraud prevention workflows. The Trulioo mission is to help provide every person on the planet with a digital identity to enable access to basic financial services and support. For more information, visit trulioo.com.