• Case Study
Partnership Fuels Robust
Regulatory Compliance for
Global Fintech
Plus500 Match
Rates Climb by
18% With Trulioo
Trulioo — Case Study
The
Challenge
Fast, fortified identity verification is
the cornerstone of Plus500’s effort
to streamline customer onboarding
while maintaining regulatory
compliance across diverse markets.
Like many online trading platforms conducting
business in the European Union, Plus500 adheres
to the Cyprus Securities and Exchange Commission
mandate that organizations validate customers’
personally identifiable information against at least two
independent data sources. That requirement, among
others, places the global fintech company under
constant regulatory scrutiny.
Plus500 needed a global identity verification partner
that could navigate that complex regulatory landscape
and ensure efficient onboarding. The company
also sought a partner that could blend deep market
expertise with advanced data science to tailor
verification workflows for any onboarding scenario.
That led Plus500 to Trulioo for optimized onboarding,
regulatory compliance and elevated verification match
rates in key markets worldwide.
• Dani Magner Chief Growth Officer, Plus500
“
We needed a service tailored to a
matrix of diferent requirements
and data availability. Trulioo
customized its identity verifcation
service to meet Plus500’s
requirements in the best way.”
Trulioo — Case Study
The
Solution
Cutting-Edge Data Science Elevates Match Rates
Before partnering with Trulioo, Plus500 conducted
a thorough evaluation of several other identity
verification providers. The company wanted a partner
that could meet its expectations for market expertise,
technology and global data availability.
“Trulioo demonstrated the most innovation among
the companies I reviewed, particularly in terms of its
offerings, the breadth of available information and
platform accessibility,” said Dani Magner, Plus500’s
chief growth officer. “After rigorous proof-of-concept
trials and testing periods, we concluded that Trulioo
delivers the best results.”
Plus500 entrusted Trulioo to enhance its identity
verification process with the platform’s state-of-the-art
Person Match capability and the no-code Workflow
Studio. Those tools played a pivotal role in refining
Plus500’s customer onboarding.
Trulioo — Case Study
Trulioo applied advanced data
sequencing and tapped into
local and global data sources
to streamline verification and
significantly increase match
rates in critical markets.
• Dani Magner Chief Growth Officer, Plus500
“
The two most
important metrics
were data availability
and performance
metrics. In the
combination of these
two metrics, Trulioo
outperformed any
other vendor that
we’ve looked at.”
18%
An 18% overall increase
in identity match rates
The expansion of Trulioo Person
Match into six additional markets
The world’s
identity
platform.
Contact us
Trulioo is a registered trademark of Trulioo Information Services Inc. in the United States, the European Union,
Canada and other countries.
Trulioo is the world’s identity platform, trusted
by leading companies for their verification
needs. The Trulioo integrated, automated
platform provides unparalleled global coverage
for business and person verification and a
comprehensive suite of in-house capabilities.
Combining its state-of-the-art technology with expert verification
knowledge across diverse markets, Trulioo enables the highest
verification assurance levels, optimizing onboarding costs and
fostering trust and security in the global digital economy.
The
Results
About Plus500
Plus500 is a global multi-asset fintech group
operating proprietary technology-based trading
platforms. Plus500 has offered customers around
the world a range of trading products for years,
including Contracts for Difference (“CFDs”) and
share dealing. With its strong background in
making the world of trading accessible to retail
and professional customers alike, Plus500 has
a premium listing on the Main Market of the
London Stock Exchange (symbol: PLUS) and is a
constituent of the FTSE 250 index.
18% Verification Rate Increase
Plus500 aimed to deliver fast, compliant onboarding
across multiple markets, each with unique
requirements, regulations and data availability.
To meet those goals, Trulioo conducted meticulous
analyses to tailor the optimal combination of data
sources and inputs for Plus500’s business needs.
The Trulioo data science team then tested data
sequences to strike the perfect balance among cost,
performance and coverage.
That approach allowed Trulioo to efficiently verify
Plus500’s initial tier of customers at minimal cost
and apply additional data sources only as customer
needs evolved.
Unlike other vendors that merely test different
data combinations, Trulioo excels by optimizing the
sequence in which data sources are accessed to
ensure a low-friction user experience. The Trulioo
platform is also agile enough to adapt to data
changes without requiring Plus500 to modify its
tech stack.
That combination of data precision, market expertise
and workflow customization helped Plus500 achieve
faster, compliant customer onboarding and bolster
verification rates by 18% across multiple markets.