• Case Study
Grow a Global Marketplace
With Verified Users, Buyers
and Merchants
Building Trust
and Safety
Across Borders
Trulioo — Case Study
The
Challenge
72%
As more people adopt the
digital-first economy, buyers and
sellers will increasingly prefer the
speed and convenience of online
marketplaces, whether it’s to rent
a room, borrow money or set up a
virtual storefront.
Peer-to-peer transactions are a cornerstone of online
marketplaces, but anonymity can increase the risk of
fraud, scams and bad behavior. A 2022 TransUnion
report found fear of fraud to be the top reason
consumers would abandon their online cart, a 72%
increase from the previous year.
If people perceive an online marketplace or
community as unsafe or unreliable, they have no
incentive to participate.
Balancing Security and Speed at Every Touchpoint
Building trust between participants is crucial for
a successful online marketplace, but speed and
convenience are also top priorities.
Providing a safe, minimal-friction user experience
can be particularly challenging for marketplaces that
process tens or hundreds of thousands of transactions
daily. Ensuring a smooth experience requires
accurately and quickly verifying identities, regardless
of a user’s risk profile or type of transaction.
“The biggest thing for us is that people need to feel that
they can trust the people they are giving money to, that
they are real and that the causes are real,” said Daryl
Hatton, FundRazr CEO. “The more we know our users,
the more we can keep it safe.”
A 2022 TransUnion report
found fear of fraud to be
the top reason consumers
would abandon their online
cart, a 72% increase from
the previous year.
Trulioo — Case Study
The
Solution
Building Trust and Speed at Scale With Trulioo
Trulioo provides identity verification services with
independent data sources worldwide to establish a
participant’s credibility. A risk-based approach can
ensure onboarding and each transaction is quick
and secure.
Onboarding low-risk customers may require only
basic due diligence, such as a standard Know Your
Customer check using a name, birthdate, address
and ID. But if a person, account or transaction crosses
a particular risk threshold, enhanced verification
services such as Identity Document Verification
and Artificial Intelligence & Machine Learning could
help reduce fraud, scams and other bad behavior.
Marketplace operators can customize those
verification processes to fit the risk.
“
Businesses that want to
provide their customers with
a safe online experience
should use Trulioo’s identity
authentication product.”
• Daryl Hatton FundRazr CEO
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.
Marketplaces share one critical
mission: Build an environment of
trust where users can safely and
securely do business.
About Online Marketplace
Online marketplaces are digital platforms that
connect buyers to sellers. Sharing economy
platforms support peer-to-peer interactions,
such as ride-sharing and social lending, while gig
economy platforms match freelance workers
to jobs.
Regardless of the type of marketplace, those
platforms share one critical mission: Build an
environment of trust where users can safely and
securely do business.
Trulioo enables organizations to quickly adapt to
changing business models, scaling to meet increased
demand at peak times or to support overall growth.
With a single comprehensive platform, Trulioo can help
online marketplaces add transparency, building the trust
people need when doing business with strangers online.
“Businesses that want to provide their customers with
a safe online experience should use Trulioo’s identity
authentication product,” Hatton said.