Credit score union bank card issuer Collabria Monetary Providers has teamed up with digital id verification fintech Trulioo. The Canada-based card issuer will leverage Trulioo to streamline the verification course of for brand spanking new cardholders.
With Trulioo’s verification capabilities, Collabria will improve its capability to supply quick, compliant, and automatic onboarding experiences. Trulioo will absolutely automate Collabria’s Know Your Enterprise (KYB) assessment course of, complementing its present Know Your Shopper (KYC) workflows.
That is significantly impactful given Collabria’s huge attain, serving 98% of Canadian credit score unions, which implies the advantages of this partnership will prolong to tens of millions of credit score union members
“The partnership with Trulioo marks a pivotal step ahead in enhancing our safety measures, whereas delivering a extra streamlined, customer-centric course of,” mentioned Collabria CEO Jean-Marc Handfield. “With their cutting-edge expertise, we’re elevating our measures towards fraud and guaranteeing a quicker and most significantly, safer, safer expertise for our cardholders.”
Trulioo helps organizations confirm over 5 billion folks by offering real-time verification for a spread of identification paperwork and enterprise entities. Its platform helps greater than 13,000 ID paperwork and 700 million enterprise entities throughout 195 international locations. Moreover, Trulioo conducts checks towards over 6,000 watchlists to make sure complete verification.
“At Trulioo, our focus is on offering industry-leading options that meet the evolving wants of the funds {industry},” mentioned Trulioo CEO Steve Munford. “By combining our clever expertise with Collabria’s experience, we’re assured in our capability to boost their verification processes, enhance onboarding outcomes, and open home windows of potentialities for his or her companions and members.”
Earlier this 12 months, Trulioo partnered with Mastercard to combine Mastercard’s id options into its Individual Match and Danger Intelligence merchandise. This collaboration supplies Trulioo with entry to id and threat scores via a customizable, user-friendly dashboard, increasing its choices past API-based merchandise and additional streamlining its onboarding processes.
Headquartered in Canada and based in 2011, Trulioo has raised $475 million. The corporate has demoed at 10 Finovate occasions, most just lately showcasing its id platform at FinovateEurope 2023.
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