• Case Study
Payments Company
Maintains Compliance in
Worldwide Markets
Identity
Verification Fuels
Nium’s Global
Expansion
Trulioo — Case Study
The
Challenge
50
Nium, with eight offices on four
continents, has made its mark on
the world’s payments industry. But
global expansion carries with it the
challenge of complying with a broad
range of regulatory requirements.
The company, which powers payments for four of
the top 10 Southeast Asia banks and has partnered
with payment giants such as Ripple and Visa, has
built its business around international coverage,
affordable rates, quick turnaround time and strong
customer experiences.
The backbone of Nium’s global payments
infrastructure is its robust compliance program.
As a cross-border payments company, Nium faced
the challenge of complying with diverse regulatory
requirements across various markets when
conducting customer identity verification. Nium chose
Trulioo to help it rise to that challenge.
“Each country has different requirements for identity
verification and the use of electronic verification,”
said Michael Bermingham, Nium co-founder and
chief operating officer. “[Trulioo] allows us to meet our
regulatory requirements with multiple independent
databases in each country.”
Nium has built a global
payment mesh covering
more than 50 countries
and counting.
Trulioo — Case Study
The
Solution
• Michael Bermingham Nium Co-founder and Chief Operating Officer
“
[Trulioo] has been
the ideal and the best
available solution for our
specific requirement.”
A Comprehensive Solution
Nium wanted a solution that could help the company
verify clients, screen them to mitigate fraud risk and
comply with cross-border regulatory requirements,
Bermingham said.
“[Trulioo] enables Nium to verify the identity of its
clients and screen them for sanction, watchlist, PEP
checks, negative news checks, etc.,” he said. “Some
other tools we tried earlier offered either verification or
screening. We were looking for a comprehensive, all-in-
one system. [Trulioo] has been the ideal and the best
available solution for our specific requirement.”
Quick and Smooth Integration
Trulioo makes it a priority to easily integrate into
existing systems and workflows.
“The integration process was absolutely smooth,”
Bermingham said. “The sandbox environment
provided by Trulioo helped us to quickly test and
integrate the service to the Nium infrastructure.”
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.
Streamlined Client Onboarding
From the outset, Nium wanted to democratize
global payments for all users, whether institutions or
individuals. To that end, it offers a quick and convenient
onboarding experience.
“Trulioo helped to automate identity and address
verification for the U.S. and AU corridors,” Bermingham
said, “thus, making the client onboarding process
smooth and fast.”
Instant Verification
Trulioo didn’t merely automate Nium’s identity
verification process; it offered time savings and
efficiencies.
“Verifying clients using [Trulioo] is almost instant,”
Bermingham said. “We haven’t faced any delays yet in
the service.”
An Engaged Support Team
Trulioo customer support is another value addition.
“Trulioo’s service and its relationship with Nium has
always been top-notch,” Bermingham said. “Everyone
has always been extremely helpful and great to work
with on solutions.”
About Nium
Founded in Singapore in 2015, Nium (formerly
InstaReM) offers innovative solutions to send,
spend and collect money in fast, convenient ways
in multiple markets. It provides individual and
enterprise users with smooth digital payments and
money transfer experience. Operating in Australia,
Singapore, the U.S., Canada, Malaysia and Europe,
Nium has built a global payment mesh covering
more than 50 countries and counting. MassPay,
its global business payments platform, offers bulk,
customized, multicurrency payments and other
features for enterprise clients.
Built for Growth and Scale
As Nium expands its operations around the
world, it plans to lean more heavily on Trulioo for
client onboarding.
“We foresee future business opportunities in the
UK and Canada, where we will require Trulioo,”
Bermingham said. “[Trulioo] has been the ideal and the
best available solution for our specific requirement.”