Credit Sesame Partners With Trulioo for Digital Onboarding

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Demand for Digital Banking Driving Need for Safe and Seamless Sign-up Process

“Our mission is to empower people to take charge of their financial situation and to achieve financial goals. In order to do this, we need to build trust with our customers, ensuring that their security and identities are protected when they sign up" - said Nicolas Dinh, Global Head of Operations

Credit Sesame, a credit wellness platform that includes one of the world’s fastest growing digital banking services, is working with Trulioo, the world’s leading global identity verification company, to help meet rapidly increasing demand for its services.

With 15 million members, Credit Sesame is on a mission to make financial freedom more accessible to consumers through credit wellness. In March 2020, the company introduced Sesame Cash, the first digital bank account where consumers can manage their cash and credit together, as another way to help its customers boost their credit scores. It has seen an exponential increase in demand since its launch, onboarding more than 200,000 new accounts after its first month. This, combined with a societal trend for digital banking services as a result of the COVID-19 pandemic, has accelerated the need for rapid, secure and seamless identity verification in business across a whole range of sectors.

Credit Sesame is using Trulioo GlobalGateway to perform identity verification checks on new customers registering for Sesame Cash, as a first step requirement for legal and regulatory compliance. Trulioo helps Credit Sesame to ensure that this process is effective and compliant, while being as fast and frictionless as possible.

“We prioritize legal and regulatory compliance while also trying to find innovative solutions that make the customer experience as seamless and fast as possible,” said Nicolas Dinh, Global Head of Operations at Credit Sesame. “We’ve put a lot of effort into digitizing and automating the onboarding process so that manual intervention is required as a fallback measure when it’s necessary.”

Steve Munford, CEO of Trulioo, said, “The way people bank has changed considerably in 2020, and as a result, there’s been an unprecedented volume of new customers turning to innovation-led digital financial services. We’re delighted to work with Credit Sesame as it scales its operations, ensuring that these new customers are protected against fraud and identity theft, while also enjoying a world-class digital experience based on speed and trust.”

Dinh concluded, “Our mission is to empower people to take charge of their financial situation and to achieve their financial goals. In order to do this, we need to build trust with our customers, ensuring that their security and identities are protected when they sign up for our services. We see this as an absolutely critical step in building long-lasting and meaningful relationships with our customers.”

About Trulioo
Trulioo is a global identity verification company that provides secure access to reliable, independent and trusted data sources worldwide to instantly verify consumers and business entities online. Trulioo’s marketplace of global identity networks, GlobalGateway, helps organizations comply with Anti-Money Laundering (AML) and Customer Due Diligence (CDD) requirements by automating Know Your Customer (KYC) and Know Your Business (KYB) workflows. Trulioo supports global clients to instantly verify five billion customers and 330 million business entities in over 195 countries – all through a single API integration. Trulioo’s mission is to solve global problems associated with verifying identities by powering fraud prevention and compliance systems for customers worldwide in an effort to increase trust and safety online. For more information visit trulioo.com.

About Credit Sesame
Credit Sesame's mission is to help consumers work toward financial stability and ultimately create better opportunities for themselves and their families. Strong credit health is inextricably linked to financial health and stability, and with the launch of Sesame Cash, Credit Sesame will help consumers manage both. Credit Sesame has helped millions of consumers improve their credit scores, increase their approval odds, lower the cost of credit and save money. Credit Sesame is funded by leading venture capital firms and strategic investors, including Menlo Ventures, Inventus Capital, Globespan Capital, IA Capital Groups, NortonLifeLock, Capital One Ventures, Stanford University, and ATW Partners, among others. Credit Sesame currently operates in the U.S. and Canada. For more information on Credit Sesame, visit http://www.creditsesame.com.

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Kim Hong
Trulioo
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