Case Studies 3 min

Crypto Exchange Targets 180,000 Additional Users Annually

Crypto Exchange Targets 180,000 Additional Users Annually

Accurate, efficient, cost-effective identity verification is at the heart of a leading U.S. crypto exchange’s effort to mitigate fraud and achieve regulatory compliance. But the complexity of verifying users from across the globe presents a constant challenge.

With millions of customers worldwide and billions traded every quarter, the stakes are high for the crypto exchange to ensure customer trust across the globe. But the organization also wanted to identify areas in its onboarding process that could be adjusted to improve performance and optimize costs.

Optimized Identity Verification Across the Globe

The crypto exchange turned to Trulioo for accurate, streamlined identity verification and value optimization for those processes around the world. 

With Trulioo Person Match capabilities, the crypto exchange can quickly verify users’ personally identifiable information — such as name, birthdate and address — through hundreds of independent, reliable sources, including government registries and credit bureaus.

The Trulioo platform also conquers the challenge posed by hundreds of thousands of different inputs and outputs and variances in formatting by intelligently normalizing data and applying natural language processing to find precise matches. That high-performing capability can adapt to the exchange’s requirements for verification match rates, processing time and transaction costs.

In any given market, there is a menu of potential data partners. Some offer more population coverage, while others may provide a faster response time, making the user onboarding experience smoother. 

Each data source has a different price point. So how would a company know if it’s using the optimal set of data sources? 

Trulioo provides clarity with its value optimization program, which is a data-led audit that ensures a customer’s configuration of sources and input quality in each market delivers the best possible performance.

That program helped Trulioo identify average performance increases greater than 5% in key markets and a predicted 180,000 additional users onboarded annually for the exchange.

Up to 38% Performance Increase at No Extra Cost

Trulioo evaluated data sources and found opportunities to increase match rate performance by up to 38% in Europe and Asia Pacific at no additional cost to the crypto exchange.


−0.8 seconds processing time


−0.8 seconds processing time


−0.4 seconds processing time

United Kingdom

−3.9 seconds processing time


−0.4 seconds processing time


−0.9 seconds processing time

A Profitable Trade-Off Unearthed by Data Science

Improving costs, transaction time and verification rates simultaneously is an easy choice. But in some markets, balancing those three variables requires a trade-off. 

By factoring in the lifetime value of a good, verified customer, the crypto exchange has advanced control and flexibility to configure the right balance of growth, friction and budget. For instance, the exchange’s optimal approach in Belgium was to add an extra data partner. 

Even though that added to total costs and processing time, the additional 6% uplift in match rates yielded an estimated net revenue gain of $88,800 per month, with a cost increase of only $1,331 per month.


+0.7 seconds processing time
Added additional data source


+0.5 seconds processing time
No increase in transaction cost


+1.5 seconds processing time
Added additional data sources

About Value Optimization

Trulioo offers its value optimization program on an ongoing basis to customers, ensuring their identity verification performance is always optimal. The value optimization program is led by the Trulioo data science team, a dedicated force of more than 30 strategists, analysts and engineers with formidable experience in identity verification.

Companies such as the crypto exchange rely on Trulioo to optimize their identity verification stack, manage costs and onboard the maximum number of good customers.