• Case Study
Blockchain and Web3
Software Company
Accelerates Person and
Business Onboarding
With Trulioo
Consensys
Captures Global
Verification
Efficiency
Trulioo — Case Study
The
Challenge
Consensys, a pioneering force in
blockchain and web3 software
technology, provides a diverse
suite of products to a wide range of
customers. The company sought
a verification solution that could
be tailored to each product while
ensuring consistent application
across its services.
Until that point, Consensys had relied on a manual
Know Your Business (KYB) process to verify
companies and their ultimate beneficial owners
(UBOs). Faced with revolutionary enhancements in
blockchain technology, the company recognized the
need for an automated, cost-effective process that
could scale as Consensys operations expanded.
The organization sought an integrated identity
verification platform that could optimize KYB and
Know Your Customer (KYC) checks, eliminate
redundancies and ensure onboarding operations could
adjust to changing conditions.
“We had other tools that we were using, but they were
not all integrated,” said Steven Szaroleta, Consensys
compliance and operational risk manager. “Trulioo
was a way to centralize all those efforts and create
efficiency.”
Consensys integrated Trulioo into its platform,
implementing Business Verification, Person Match and
Watchlist Screening capabilities through Workflow
Studio, the Trulioo no-code workflow builder.
• Steven Szaroleta Consensys compliance and operational risk manager
“
The Trulioo team was
really helpful at navigating
all the requirements for
verifying businesses.”
Trulioo allowed Consensys
to tap into a global network
of more than 400 business
data sources.
Trulioo — Case Study
The
Solution
Accelerate Growth Through Greater Global Reach
Business verification can be complex, especially for a
global company such as Consensys, which operates
across multiple countries with a broad range of KYB
and KYC requirements.
The partnership with Trulioo, though, allowed
Consensys to tap into a global network of more than
400 business data sources, more than 450 sources
for individuals’ data and more than 6,000 watchlists.
That fast access to data around the world enabled the
organization to quickly onboard businesses and verify
UBOs and people with significant control.
“Some of the other vendors we had looked at were
tailored more toward U.S.-only companies, and Trulioo
was the one that had more of a global presence,”
Szaroleta said. “That was one of the main reasons why
we picked Trulioo.”
Trulioo proved invaluable in complying with complex
regulatory requirements across different regions,
including Japan, Mozambique, the U.S., the British
Virgin Islands and the Netherlands.
“The Trulioo team was really helpful at navigating
through all the requirements for verifying businesses,”
Szaroleta said.
400+
Trulioo — Case Study
Finding the Path to Success
Smooth onboarding is critical to Consensys’ success.
But before the partnership with Trulioo, the Consensys
verification process would take up to an hour per
customer. With Trulioo as a partner, the company
reduced customer onboarding to just minutes.
“If you don't have a seamless onboarding process,
customers are going to get frustrated and go to a
different provider,” Szaroleta said. “It's really important
in our world.”
With the Trulioo integrated identity platform,
Consensys can perform KYB and KYC checks
through one agile verification workflow and limit time-
consuming reverification, secondary authentication
and manual checks. That holistic platform experience
enables the company to strike the right balance
between onboarding friction and user experience to
create safe environments and build customer loyalty.
Maximize ROI Through a Flexible Suite of Services
As companies expand, it’s important that verification
processes keep pace to maintain organizational
efficiency.
“When you start, you have a handful of verification
tools, and you’re working through what works and what
doesn’t,” Szaroleta said. “But as the volume increases,
you realize that approach isn’t sustainable unless you
go with a vendor that can make it more efficient.”
Consensys teamed up with Trulioo to enable vendor
consolidation, scale globally and free up resources to
drive strategic growth.
“What we were looking to use Trulioo for was new and
immediate, and Trulioo was able to work with us to get
what we needed quickly,” Szaroleta said. “Some of the
other vendors we had talked with weren’t able to be as
flexible or easy to work with.”
“
The verification
process used to
take 30 minutes
to an hour per
customer. Trulioo
reduced that labor
time to a few
minutes.”
• Steven Szaroleta Consensys compliance
and operational risk manager
30-60
minutes
<5
minutes
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.
What’s Next?
About Consensys
As a leading blockchain and web3 software
company, Consensys has been at the forefront
of innovation, pioneering technological
developments within the web3 ecosystem.
Through its product suite, including the MetaMask
platform, Infura, Linea, Diligence and the NFT
platform, Consensys has become a trusted
collaborator for users, creators and developers.
The company’s mission is to inspire and
empower the builder in everyone by making web3
universally easy to use and develop on.
Consensys recognized the importance of establishing
a robust due diligence infrastructure that can adapt to
regulatory and market changes.
With Trulioo as its verification partner, Consensys is fully
equipped to tackle any new challenges and maintain its
industry leadership.
With Trulioo as its verification partner,
Consensys is fully equipped to tackle any new
challenges and maintain its industry leadership.