Trulioo’s mission is to provide verifiable identities for everyone to advance financial inclusion while building trust online, the company’s release said. It can verify the identity of more than 5 billion individuals, plus 330 million businesses around the globe, introducing a new abbreviation in a crowded field — KYB or Know Your Business.
Or, as the company says on its web site, “Don’t Stop Your Business at the Border.”
It provides secure access to hundreds of identity networks around the world to help meet compliance requirements, mitigate the risk of fraud, and increase trust and safety online. And it uses advanced technologies including OCR, AI and natural language processing to do it efficiently.
Its missions is to build a framework of trust that powers a trustworthy, safe and inclusive digital system that is not constrained by geographic borders.
As a WEF Technology Pioneer, Trulioo will be invited to participate at World Economic Forum activities, events, and discussions throughout the year. Trulioo will also contribute to Forum initiatives over the next two years, working with policymakers and private sector leaders to help define the global agenda on key issues.
“Today’s digital economy is increasingly complex, said Steve Munford, the company’s CEO. “Between the growing mobile adoption in emerging markets, varying regional compliance requirements and the heightened fraud landscape, it’s important for businesses to take the necessary steps to enhance and optimize identity verification and fraud prevention processes.”