Trulioo Debuts Match Rate Challenge for KYC Rates

Global identity verification company Trulioo is inviting businesses to compare their current solutions against its global know your customer (KYC) match engine, Trulioo GlobalGateway.

On Monday (Nov. 8), the firm announced its GlobalGateway Match Rate Challenge in a bid to motivate companies to compare onboarding results and determine whether they have access to the best possible identity verification match rates. 

GlobalGateway is powered by a single application programming interface (API) integration that provides real-time verification of 5 billion consumers worldwide. Trulioo reports that customers switching to this global KYC match engine have seen their verification rates rise by upwards of 40% when compared to their current providers. 

“We are honored to have the opportunity to help businesses scale their digital onboarding processes while meeting compliance requirements in this new digital frontier,” Trulioo CEO Steve Munford said in a statement. “Unlike other identity verification suppliers, GlobalGateway provides the critical combination of speed, coverage and security, at the optimal rates expected from a market leader.

“We are confident that our global identity verification product outperforms other solutions and we’re excited to prove it.” 

The Match Rate Challenge is free to participate in, and qualified companies will be provided with an end-to-end batch test in order to easily quantify and compare performance. 

Read more: Legitimate Online Gambling Sites Bet on Digital ID and Data to Win Against Cybercrime 

In a recent conversation with PYMNTS, Garient Evans, senior vice president of identity solutions at Trulioo, and Chris Justice, president of payment services provider Global Payments Gaming Solutions, said that the scope of money laundering and cybercrime is vastly underestimated. They described operators’ steps to combat fraud and stay compliant with increasingly stringent anti-money laundering (AML) and KYC regulations. 

Giving global context to the issue, Evans said, “In many jurisdictions online gaming or gambling of any type is illegal, which means people need to launder funds associated with gambling activity.”