Trulioo — Case Study
“
It’s crucial to
rely on the best
solution in the
market, and we
felt that Trulioo
was the best
choice.”
• Michael Arbus Bitbuy CEO
Verifying People
Trulioo is a key component of Bitbuy’s onboarding
process. Once customers have verified their email
address, they provide further information, which is
verified through Trulioo Person Match.
There are then three basic phases to verify a
customer’s identity to a level that satisfies Bitbuy’s
best practices for compliance. Upon final verification,
customers may open an account.
Previously, if the identity information failed the initial
verification check, Bitbuy would manually review
additional information, such as ID documents or a
utility bill. Through Trulioo, though, much of the manual
verification is reduced, allowing Bitbuy’s customer
success teams to focus on improving other areas of
the business and improve the customer experience.
Verifying Organizations
Bitbuy customers can fund, trade and hold assets
in either personal or business accounts, and Trulioo
has been instrumental in the successful roll-out of the
exchange’s corporate verification.
Bitbuy uses Trulioo Business Verification services to
ensure corporate accounts are verified and compliant.
Those services help Bitbuy verify data points such
as business registration documentation, Ultimate
Beneficial Ownership (UBO), business name, address
and jurisdiction of incorporation to ensure the business
profiles meet regulatory requirements.
Bitbuy is increasing its focus on those accounts and
striving for a high rate of business verification.
“It’s our primary growth area for clients,” Arbus said,
“and we anticipate it becoming really important to
verify as many as possible in a compliant way.”
The
Solution