Vancouver’s Trulioo is racking up customers in the banking industry with the addition of Bambu Systems, Guardian Gold, Nerve and Simba to their growing resume.
Financial services providers rely on identity verification for seamless and secure customer onboarding. With Trulioo GlobalGateway, the world’s largest network of identity data and services, financial institutions can deploy identity checks that help them satisfy Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance requirements.
When it comes to digital experiences, expectations are at an all-time high. Poor onboarding experiences can lead to abandonment and impact customer acquisition.
“At the onset of the pandemic, we examined consumer perceptions around digital account opening. We found that when a financial services firm incorporated real-time identity verification as part of their onboarding, 83% of people were less likely to abandon the account creation process,” said Steve Munford, CEO, Trulioo.
In addition to adverse effects on customer acquisition, poor onboarding experiences detrimentally impact brand perception, with Trulioo research revealing that 80% of consumers held greater trust in brands that use identity verification as opposed to those who didn’t.
“Both legacy and challenger banks trust Trulioo and its range of solutions to scale innovative global compliance programs while delivering positive customer experiences. We’re pleased to partner with these organizations to continue to support their compliance and risk mitigation initiatives and to help them onboard customers around the world,” added Munford.
GlobalGateway provides access to over 400 data sources to reliably and securely verify the identities of over 5 billion individuals around the world through one API.