• Case Study
Integration Reinforces
Compliance and Fraud
Prevention Across 181
Countries
Trulioo Unlocks
Global Expansion
for Airwallex
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Trulioo — Case Study
02
The
Challenge
Regulatory compliance and
fraud prevention are a core part
of Airwallex’s mission to simplify
global payments and financial
operations for companies around
the world.
More than 100,000 companies worldwide trust the
global financial platform’s software, APIs and financial
infrastructure to help them operate without borders
in an ever-expanding digital economy. That trust
stems from Airwallex navigating a nuanced regulatory
landscape that makes compliance a complex
operation in regions around the world.
As a unified global payments and financial operations
platform, Airwallex maintains more than 60 licenses
and permits across the globe. Beyond the company’s
money transmitter licenses in 42 U.S. jurisdictions, it
adheres to regulations set by, among others, the:
Monetary Authority of Singapore
Australian Securities and Investments Commission
Financial Transactions and Reports Analysis Centre
of Canada
Financial Conduct Authority of the U.K.
Dutch Central Bank
One of the most common elements for compliance
across all regulatory authorities is robust verification
during onboarding that ensures all new customers are
real, trustworthy people or credible business entities.
More than 100,000 companies
worldwide trust Airwallex.
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Trulioo — Case Study
The payments and remittance
industries can be attractive targets
for fraudsters. From data breaches
to deepfakes, bad actors wield an
evolving arsenal.
Fraud
Doesn’t
Sleep
One way fraudsters try to infiltrate payments
companies during onboarding is through
presentation attacks. Those include printing
a picture of an ID or showing an ID image on
a screen. But fraudsters are also increasingly
using more advanced techniques such as
wearing silicone masks or generating faces
with AI.
With more than $100 billion in global
payments processed annually, Airwallex
needed sophisticated, dynamic systems to
fight fraud and protect customers.
• Elliot Colquhoun Vice President, IT & Information Security, Airwallex
“
Trulioo delivers a dynamic
solution, enabling Airwallex to
adapt our identity workfows
over time to outpace fraud and
maintain compliance.”
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The
Solution
Airwallex tapped Trulioo to help
keep fraud at bay while expanding
rapidly across new regulatory
jurisdictions.
With Trulioo, Airwallex can verify people and
businesses anywhere through ID documents,
biometrics and a network of hundreds of authoritative
data sources, including government registries and
credit bureaus.
The collaboration began in 2017 when Airwallex chose
Trulioo to verify people in the Asia-Pacific (APAC)
region. As Airwallex grew, the partnership expanded to
verification in the Americas.
In 2022, Airwallex added Business Verification through
the comprehensive Trulioo platform to efficiently
break down the silos between verifying businesses
and their owners.
The Trulioo Identity Document Verification
functionality helps Airwallex stay ahead of growing
fraud threats. By adding liveness detection to ID
document capture and facial biometrics, the company
can expose attempts at fraudulent onboarding.
Trulioo — Case Study
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Out of 82 algorithms tested by the U.S. National
Institute of Standards and Technology, those used in
Trulioo Identity Document Verification scored in the top
five for security, or maximum fraud attempts detected,
and convenience, or minimum false positives. In 2024,
Airwallex saw its automatic document verification
increase through Trulioo, which led to a median
automatic processing time decrease.
The combination of Identity Document Verification and
Trulioo Person Match gives Airwallex another powerful
tool. The blended capabilities can match the personally
identifiable information (PII) extracted from an ID
document to records in official databases to catch
synthetic IDs.
“Trulioo delivers a dynamic solution, enabling Airwallex
to adapt our identity workflows over time to outpace
fraud and maintain compliance,” said Elliot Colquhoun,
vice president, IT & Information Security at Airwallex.
“Partners like Trulioo are essential to effectively identify
and block fraud so that we can ensure the security
of over 100,000 global businesses while allowing
legitimate transactions to proceed without interruption.”
The Trulioo platform’s flexibility has been key to the
partnership’s success. Airwallex can control its identity
verification configuration at a granular level to meet
regional requirements.
Out of the more than 14,000 ID document types
Trulioo can verify, Airwallex can limit the options it
presents to users in each region based on regulatory
limitations. For example, some regulators stipulate that
foreign driver’s licenses or regional health cards are
not suitable proof of identity, so Airwallex can remove
them as options.
Trulioo also provides a combination of integration
options, from a hosted SDK for image capture to the
Trulioo API available for all services. That flexibility
allows Airwallex to adapt to meet the needs of
customers anywhere in the world.
162
119
104
Passports Representing
162 Countries
ID Cards From
119 Countries
Types of Driver’s
Licenses
Trulioo has verified identity documents from
181 countries for Airwallex, including:
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.
With Trulioo, Airwallex verifies
businesses and their owners as well
as individuals across the Americas,
Europe and APAC.
The Results
About Airwallex
Airwallex is a leading global financial platform for
modern businesses, offering trusted solutions to
manage everything from payments, treasury, and
spend management to embedded finance. With
our proprietary infrastructure, Airwallex takes
the friction out of global payments and financial
operations, empowering businesses of all sizes
to unlock new opportunities and grow beyond
borders. Proudly founded in Melbourne, Airwallex
supports over 100,000 businesses globally
and is trusted by brands such as Brex, Rippling,
Navan, Qantas, SHEIN and many more. For more
information, visit www.airwallex.com.
Global Expansion Unlocked
Trulioo has verified identity documents from 181
countries for Airwallex. That includes passports
representing 162 countries, ID cards from 119 countries
and 104 types of driver’s licenses.
Airwallex leverages Trulioo across the Americas,
Europe and APAC. Trulioo delivers ongoing custom
performance analysis and optimization, leading to
continual improvements in PII verification.
Dynamic Toolkit for Evolving Regulations
With Trulioo, Airwallex verifies businesses and their
owners as well as individuals.
Airwallex also can efficiently access developer
resources through the Trulioo Developer Portal and
use the Trulioo API to facilitate global data transfer
from all companies to a single end point. For Document
Verification, Airwallex benefits from a no-code, hosted
image capture SDK. Airwallex can quickly adjust
its verification workflows to comply with regulatory
requirements anywhere in the world.