With this move, WEX will replace manual processes while enhancing onboarding and mitigating fraud, the companies said in a Wednesday (Aug. 27) press release emailed to PYMNTS.
“By replacing manual, time-consuming processes with intelligent verification, we’re helping to reduce fraud risk, streamline onboarding and create a seamless digital experience for our customers,” William Fitzgerald, vice president, fraud and financial crimes at WEX, said in the release.
Trulioo Document Verification detects forgeries, deep fakes and injection attacks with the use of biometrics and machine learning that is trained on 25 million global images and 200 biometric markers, per the release.
“Across regulated industries, businesses are looking to balance smooth digital experiences with the highest standards of security and compliance,” Trulioo CEO Vicky Bindra said in the release. “Trulioo makes this possible with intelligent, automated identity verification at a global scale.”
Trulioo has found that enterprise payments providers around the globe are focused on easing their tech stack complexity; combating deepfakes, injection fraud, and AI-assisted third-party and synthetic fraud; and staying ahead of shifting regulations, Trulioo Chief Technology Officer Hal Lonas wrote in the PYMNTS Intelligence eBook “Halftime 2025: Charting the Future of Payments.”
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An AI-driven platform can help with each of these challenges, Lonas wrote.
“AI, whether in verification or regulatory compliance, is fast becoming the trusted autopilot and can keep organizations on course for success in the second half of the year,” Lonas wrote.
The new partnership of Trulioo and WEX came at a time when WEX is evolving its fuel card offerings in Europe and elsewhere, according to the Wednesday press release.
WEX President of Payments Eric Frankovic said in April that a renewed focus on fraud prevention and other factors are leading companies to seek payments innovation, which increasingly revolves around virtual cards.
Virtual cards can offer benefits like enhanced security, streamlined processes and improved working capital management, Frankovic told PYMNTS CEO Karen Webster in an interview posted April 10.
“We’re seeing more companies that maybe have been a little resistant in the past now making outreach,” Frankovic said.
