VANCOUVER, B.C., August 14, 2018 /PRNewswire-PRWeb/ -- For the third year running, Trulioo's leading identity verification platform, GlobalGateway, has been ranked as the number one identity verification tool in the 2018 RegTech Supplier Performance Report.
Published by Market Fintech Ltd, the RegTech Supplier Performance Report provides a clear view of the RegTech sector and focuses on the solutions gaining marketing traction, as well as the scope of these solutions and the areas of compliance they address.
"Global fraud and identity management is an unrelenting cycle of increasing risk and expense for financial institutions," said Tina Snelling, founder of Market Fintech and editor of the report. "This can be a particularly irritating and cumbersome experience for customers, however, Trulioo has changed that by providing instant verification and onboarding. An ambitious company, Trulioo combines cutting-edge technologies and industry best practices to dramatically speed up the verification, validation and overall onboarding process," she continued.
Developed for an international market, Trulioo's GlobalGateway solution helps businesses comply with a wide range of identity verification requirements, including Know Your Customer (KYC) and Anti-Money Laundering (AML).
"Showcasing a highly complex, yet burgeoning, area of financial technology, this report is a highly valuable tool because it brings attention to the regulatory solutions that are making a real impact in today's digital world," said Stephen Ufford, CEO of Trulioo. "Automated eKYC tools offer more reliable, customer-centric solutions for financial institutions dedicated to delivering a seamless, digital-first experience. As a result, businesses are able to abandon problematic, manual processes and implement more reliable, cross-functional solutions."
In addition to ranking Trulioo as a top ID verification tool, the report also ranked Trulioo number three in the Overall RegTech Supplier Rankings.
In recent years the RegTech industry has gained incredible traction to help facilitate the rapid growth of financial technology. Not only does RegTech help businesses address various regulatory challenges, it also offers a competitive advantage. RegTech enables more traditional businesses, such as banks and FIs, to differentiate themselves from their competition by implementing simple, reliable technical solutions and in turn, facilitating an enhanced customer experience.
About Trulioo
Trulioo is a global identity and business verification company that provides secure access to reliable, independent and trusted data sources worldwide to instantly verify consumers and business entities online. Trulioo's bank-grade online verification platform, 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 over 500 global clients to instantly verify 4.5 billion customers and 250 million business entities in over 100 countries - all through a single API integration. Named as a 2017 CNBC Disruptor 50 Company, 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.
SOURCE Trulioo.
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