Trulioo — Case Study
The
Challenge
Global Coverage, Individual Customer Satisfaction
Since its inception, Stake has been true to its mission
of providing investors around the world with easy and
secure access to international markets beyond their
own borders, driven by real-time customer onboarding.
This mission stems from a belief that investors
should be able to diversify their investments across
geographies and industries. Being a global leader in
identity verification, Trulioo was the right match to help
Stake expand across borders with security, speed
and accuracy.
In particular, Stake set out to provide access to the U.S.
market, by far the largest stock market in the world.
Successfully opening the U.S. market to investors
in Australia and other markets, such as the United
Kingdom, was key to Stake’s growth strategy.
At the same time, one of the founding principles of
the company was to address three major legacy
issues within the investment industry for customers:
paper forms, excessive fees and poor execution.
Stake needed to undertake appropriate Anti-Money
Laundering and Know Your Customer procedures for
every customer and provide the appropriate level of
security, without compromising on service. This due
diligence needed to be done with a global partner — a
company that had the scale, expertise and ability to
deliver identity verification to such a vast market.
With the aim to go global from the start, Stake needed
an identity verification partner that could help it to
verify people around the globe, not just Australian
citizens. The Stake team needed identity verification
that provided breadth and scale, but was also flexible
to meet changing demands in what is a highly dynamic
and constantly changing sector of the economy.
“We offer an unlimited commission-free based service,
so we started testing the waters over here in Australia,
but our goal has been to go global and work with global
partners as much as we can — for example, global
brokers and foreign exchange providers, and that
includes our identity verification partner too.”