Trulioo — Case Study
The
Solution
• 2022 consumer and business research
from Trulioo and Insight Avenue
“
74% of
consumers are
more likely to
trust a brand or
company that
uses identity
verification.”
Efficient Due Diligence in a Volatile Global Market
Ensuring new users are who they say they are and
present acceptable levels of risk is a top priority for
forex brokers and other financial services companies.
But the risk varies among traders, depending on
identity profile, transactions, location and other factors.
Yet speed and convenience are crucial in a quickly
fluctuating currency market. Forex is a massive, high-
volume trading market, so brokers face the challenge
of accurately verifying identities globally and in near
real time.
Fast, Secure Onboarding Across Borders
With Trulioo
Trulioo orchestrates hundreds of identity services
and independent data sources worldwide to verify
and authenticate users, enabling forex brokers to
create international onboarding that satisfies their risk
requirements while minimizing friction.
By dynamically corroborating the information
collected down to the risk profile or transaction
level, Trulioo can improve match rates and reduce
false positives, creating a higher level of assurance
throughout the customer life cycle.
For example, a broker may opt for basic due diligence
with standard identity checks for low-risk users but
add document verification or other identity proofing
for people, accounts or transactions that cross a
certain risk threshold. That risk-based approach to
identity verification enables forex brokers to smoothly
onboard traders and still meet stringent AML and KYC
requirements, reducing the likelihood of fraud and
other bad behavior.