Trulioo Marks 1,996% Jump in KYB Transaction Volumes

Trulioo has recorded substantial growth in its know-your-business (KYB) transaction volume since 2023.

The identity platform announced Monday (Oct. 27) that its KYB transaction volume had grown 1,996% during that time frame, with a 102% year-over-year increase.

“The KYB growth has helped fuel a 134% increase in U.S. verification volume across all Trulioo products,” the company said in a news release provided to PYMNTS. “The Trulioo identity platform has processed more than 20 million transactions for U.S. customers in 2025, underscoring its scale and market momentum.”

The release pointed to research by PYMNTS Intelligence and Trulioo showing a transition in the verification market, with nearly 94% of companies that use integrated identity platforms reporting know-your-customer (KYC) and KYB management has become easier.

Unified platforms, the release added, are fueling consolidation of payment and identity verification systems as organizations move away from fragmented, multivendor approaches.

“We’re witnessing the end of the patchwork era in identity verification,” Trulioo CEO Vicky Bindra said in the release.

“Trulioo is leading the transformation for banks, payments companies, FinTechs and digital marketplaces that need a single, global platform for trusted and scalable onboarding. Our advanced technology delivers the verification depth U.S. enterprises need across markets, ensuring they can visibility improve performance, eliminate false positives and reduce fraud and loss rates.”

The release also points to some client success stories, such as the global online payment platform that consolidated from multiple vendors to a single Trulioo integration, and now sees 90%-plus verification rates across government IDs.

The company’s milestone comes at a time when inadequate digital identity systems are quietly eating away 3.1% of annual revenue, or $95 billion globally each year. That’s according to “The Hidden Costs of ‘Good Enough’: Identity Verification in the Age of Bots and Agents,” a PYMNTS Intelligence and Trulioo collaboration.

“The damage isn’t limited to fraud losses. It’s missed growth, false declines, regulatory exposure and eroded customer trust — all hidden taxes of complacency in a hyperconnected economy,” PYMNTS wrote last week.

The report also noted the cost of overconfidence. While 96% of companies said they are able to detect harmful bots, nearly 60% of them contend with bot-driven fraud.

“The disconnect between perception and performance is costing companies billions of dollars,” PYMNTS wrote.