Collabria Financial Services, Canada’s credit union credit card issuer, announced that they will partner with Regtech Trulioo, a global firm focused digital identity verification.
This collab will now aim to support a more streamlined verification process for new cardholders.
By integrating Trulioo capabilities, Collabria will enhance the trust and safety of their digital platforms and “continue their commitment to providing secure and innovative financial solutions.”
Regtech platform Trulioo’s verification capabilities will reportedly deliver automated onboarding experiences that meet Collabria’s unique business needs.
As Collabria’s operations grow, the integration of Trulioo will allow the full automation of their Know Your Business review in addition to their current Know Your Client process, “increasing member and cardholder satisfaction.”
Trulioo identity verification technology reportedly enables the verification of more than “5 billion people and 700 million business entities across 195 countries.”
The Trulioo platform will support Collabria’s operations in the reduction of fraud, while ensuring a “secure, efficient method to welcome new cardholders.”
Jean-Marc Handfield, Chief Executive Officer at Collabria said that the partnership with Trulioo marks a “step forward in enhancing security measures, while delivering a streamlined, customer centric process,”
Handfield added that with their tech, they’re elevating measures against fraud and ensuring “a faster and most importantly safer, more secure experience for our cardholders.”
Steve Munford, CEO of Trulioo said that at the Regtech firm, their focus is on providing solutions that meet the “evolving needs of the payments industry.”
Munfor also mentioned that by combining their intelligent tech with Collabria’s expertise, they are confident in their ability “to enhance their verification processes, improve onboarding outcomes, and open windows of possibilities for their partners and members.”
Trulioo is the identity platform, “trusted” by companies for their verification and fraud prevention needs.
Offering business and person verification, Trulioo covers “195 countries and can verify more than 14,000 ID documents and 700 million business entities while checking against more than 6,000 watchlists.”
Trulioo enables companies to prevent fraud with hundreds of predictive risk signals, consortium data and “industry-specific machine learning models.”
Its suite of capabilities, integrated across a single automated platform, powers onboarding workflows to meet market requirement.
Combining its tech with expertise across markets, Trulioo enables the “highest verification assurance levels,” optimizing onboarding costs and fostering “trust” in the digital economy.
