Trulioo and Mitek join forces to offer a comprehensive global identity verification solution for fraud prevention and AML/KYC compliance
Vancouver, B.C. – (May 15, 2017) – Trulioo, the leading global identity verification company, has launched an ID document verification solution with facial comparison technology to provide an added layer of authentication to its comprehensive identity verification platform. The combination of electronic identity verification (eIDV) and ID document verification enables clients to strike the right balance of offering consumers a simple onboarding experience while ensuring the enterprise adheres to cross-border Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance requirements.
Through a partnership with Mitek (MITK), the global leader in mobile capture and identity verification software solutions serving over 5,600 financial services organizations, Trulioo’s API now collects, analyzes and authenticates 3,500 different types of passports, driver licenses and identity cards from nearly every country in the world. To prove the person holding the license is the person they say they are, the user can take a selfie and that picture is compared to the photo on the ID document.
“Identity document verification with facial comparison enables an additional factor of authentication for high-value transactions,” said Stephen Ufford, CEO of Trulioo. “This new partnership with Mitek ensures our clients continue to have instant access to powerful tools for their fraud prevention and compliance systems.”
Working in tandem, document verification combined with eIDV makes for an effective, unique and masterful combination to root out financial crime while reaping cost and time savings on staffing requirements, eliminating the need for face-to-face authentication of documents. Trulioo is the first global identity verification provider in the market to offer this combined service through a single solution.
“We are pleased to collaborate with Trulioo to provide the industry with a comprehensive ID verification solution that combines both our companies’ expertise for today’s digital era,” said Sarah Clark, General Manager, Identity Solutions at Mitek, a publicly traded company headquartered in San Diego, California with office in London and Amsterdam.
Trulioo is a global ID verification company that provides advanced analytics from traditional and cyber data sources to instantly verify identities online. The company’s mission is to solve global problems associated with verifying identities online by powering fraud prevention and compliance systems for hundreds of clients worldwide in an effort to increase trust and safety online. Trulioo's bank-grade identity verification product, GlobalGateway, enables businesses to perform frictionless identity verification for 4 billion people in over 60 countries via more than 200 data sources – the widest coverage in the market. GlobalGateway helps businesses comply with Anti-Money Laundering (AML) and Know Your Customer (KYC) identity verification needs, and provides a reliable and trustworthy way for businesses to evaluate new and existing users through one, single portal or API. For more information, visit www.trulioo.com.
Mitek (NASDAQ: MITK) is a global leader in mobile capture and identity verification software solutions. Mitek’s ID document verification allows an enterprise to verify a user’s identity during a mobile transaction, enabling financial institutions, payments companies and other businesses operating in highly regulated markets to transact business safely while increasing revenue from the mobile channel. Mitek also reduces the friction in the mobile users’ experience with advanced data prefill. These innovative mobile solutions are embedded into the apps of more than 5,600 organizations and used by tens of millions of consumers for mobile check deposit, new account opening, insurance quoting, and more. For more information, visit www.miteksystems.com or www.miteksystems.co.uk. (MITK-F)