Trulioo Review: The Global Identity Verification Company Helping Businesses Fight Fraud

Fraud prevention button, concept about cybersecurity and credit card protection

Having the proper level of online security in place to guard against fraud is something your customers expect of you. In the digital space, trust and security are very important to your customers, but it’s also important for you to verify customers’ identity to keep your business safe.

Trulioo is a global identification verification company that provides advanced identification verification analytics and helps businesses prevent the risk of fraud and comply with cross-border anti-money laundering (AML) and know your customer (KYC) rules.

Trulioo’s service offers comprehensive identity intelligence data from more than 100 trusted sources all over the world, and the company has the ability to verify over 4 billion people in more than 60 countries.

In this review, we’ll go over the features of Trulioo’s solutions, along with how their service works and how it stacks up against other identity verification companies in the industry.

Overview of Trulioo’s Service

Trulioo’s main goal is to help their clients build a framework of trust and security online. They focus on trust, privacy, and inclusion. There are three main solutions Trulioo provides, which are highlighted below.

Identity Verification – Trulioo’s identity verification solution is called GlobalGateway, an international electronic identity verification product designed to meet anti-money laundering (AML) and know your customer (KYC) rules and compliance requirements. GlobalGateway minimizes the risk of online fraud with its identity and age verification features, and it has flexible integration options.

Data Exchange – Trulioo’s Data Exchange solution allows their customers to safely select data partners and clients who are interested in providing access to consumer data for electronic identification verification (eIDV).

Customers can search through the database to see which potential partners are verified or not verified and earn new revenue by monetizing their data through hundreds of global customers.

AML Watchlist Services – The AML (anti-money laundering) watchlist is a list of individuals who are suspected (or convicted) of various financial crimes and restricted from doing business in certain countries. These lists originate from government sources, international regulators, and law enforcement agencies.

Trulioo’s comprehensive global AML watchlist allows financial service providers and financial institutions to meet compliance rules with real-time watchlist checks against known or suspected entities and individuals that are associated with risky activities like money laundering, terrorism, financial fraud, arms proliferation, drug trafficking, or politically exposed persons (PEPs).

How Trulioo Works

Trulioo uses quality sources, including government, credit, utility, and telco, to fuel the data for their solutions. They work with leading data source providers to ensure the integrity of their service.

Companies interested in trying out Trulioo’s solutions can request a demo at any time. There are two main ways to use Trulioo’s service.

Online Portal – Trulioo has an online portal for their GlobalGateway product that allows customers to easily verify people from the customer’s own web browser. The portal provides instant identity and address verification in more than 60 countries, and customers can access information from up to 200 data sources around the world.

The portal also provides automated watchlist checking and won’t take up any space on your computer since there is no software to be installed.

Open APIs – An API, or application program interface, is a set of routines, protocols, and tools for building a software application. This allows Trulioo customers to implement the GlobalGateway platform into their own online environment.

How Much Trulioo Costs

Trulioo offers free 7-day trials for their services with limited access so customers can give their software a try before committing to making a purchase. They also allow you to book a demo directly from their website.

There are three levels of pricing for the GlobalGateway product:

National – $19 per month

International – $79 per month

Enterprise – Contact Trulioo for pricing

Transparency Levels

Trulioo openly shares a lot of information about their products right on their website, including their prices, with the exception of their enterprise level monthly subscription. In-depth brochures, product videos, reference papers, and more can also be easily accessed from their website.

They invite companies to reach out to them with questions, comments, or concerns and have support teams available 24/7 in many countries.

For additional information, Trulioo has a helpful FAQ page with information about their products, how they collect data, and more.

Alternative Identity Verification Services

Identity verification services like Trulioo create a safe and secure environment for businesses and their customers. Here are two other companies that offer similar solutions and products to Trulioo.

Jumio

Jumio offers digital identity verification services to businesses so they can complete transactions safely and securely. They service a wide variety of industries, including finance, retail, travel, and gaming, and authenticate identification credentials issued by more than 130 countries.

Veridu

Veridu provides identity verification solutions to prevent fraud and solve all issues faced by e-commerce companies like verified onboarding, verified transactions, and verified activity. Veridu has free demos available on their site so potential users can test their services and view what it looks like from a customer’s perspective.

Final Word

Trulioo offers a comprehensive identification service that solves online identity verification challenges and fraud risks that businesses face. Trulioo uses real and reliable data sources, and their GlobalGateway product is easy to implement.

 

Unlike other identification verification companies, Trulioo openly offers a free trial on their site along with pricing information for their services so potential customers can test out their product and obtain a realistic idea of how it will fit into their budget.

The post Trulioo Review: The Global Identity Verification Company Helping Businesses Fight Fraud appeared first on MagnifyMoney.