• Case Study
Trulioo Verification
Optimization Fuels
Onboarding Growth
for Global Organization
Remittance
Company Ramps
Up Annual Revenue
by $1.5 Million
Trulioo — Case Study
The
Challenge
A prominent remittance, payments
and money transfer organization
faced the complex challenge of
maintaining regulatory compliance
across markets worldwide while
prioritizing swift, cost-effective
customer onboarding.
Striking the balance between compliance and
convenience, though, requires a meticulously refined
onboarding process fortified by a strong partner with
expertise in precise data source allocation.
The organization turned to Trulioo to initiate an
onboarding optimization effort to gain insight into
the nuances influencing the cost of a verified, high-
value user. The remittance company’s objective
was to identify opportunities to increase onboarding
efficiencies without compromising speed, accuracy,
compliance or the user experience.
The organization’s average increase
in revenue for each verification rate
percentage uplift
United Kingdom
Verification rate uplift
New users annually
2%
3,500
North America
Verification rate uplift
New users annually
4%
6,500
New Zealand and Australia
Verification rate uplift
New users annually
21%
10,000
Trulioo — Case Study
The
Solution
The organization had partnered with Trulioo for five
years prior to the onboarding optimization initiative,
entrusting the platform with identity verification
through a comprehensive suite of capabilities.
The optimization initiative had two primary goals:
• Increase verification rates in four critical markets
• Successfully onboard an additional 20,000
users annually
20,000 new users
onboarded annually
in four critical markets
The world’s
identity
platform.
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.
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The Results
20,000 New Users Annually
The global organization had a mandate to provide
fast, compliant onboarding in multiple countries, each
with unique data challenges, rules and requirements.
Through careful data set analysis and precise
combinations of fields and rules tailored to each
country, Trulioo provided flexibility to meet onboarding
needs while uplifting the remittance leader’s
onboarding performance.
In North America, the organization achieved an average
4% verification rate uplift, equaling an additional 6,500
users annually who would have otherwise required an
alternative, potentially more costly onboarding method.
Across New Zealand and Australia, the optimization
delivered an average 21% verification boost, surpassing
10,000 new annual users per country. In the United
Kingdom, the organization realized a 2% uplift, resulting
in an additional 3,500 annual users.
About the Customer
The organization is a digital, cross-border
remittance business that provides international
money transfer and remittance services in more
than 130 countries and more than 70 currencies.
For those receiving money, the organization offers
payout options such as bank deposit, mobile
money, mobile airtime top-up, cash pickup and
cash delivery. At the heart of the business is a
desire to meet people’s needs while ensuring the
authenticity of all parties.
Estimated $1.5 Million Annual Revenue Increase
As the remittance organization onboarded an influx
of new users, its revenue went up. Each verification
rate percentage uplift from the program equaled
an estimated $56,000 increase in annual revenue,
leading to a total of about $1.5 million per year.
The company achieved that revenue increase with
minimal or no additional investment. It stemmed solely
from the value optimization program with Trulioo.
A combination of detailed assessments, data source
analysis and rule set optimization that led to data
package reconfigurations formed the foundation for
Trulioo and the organization to improve customer
onboarding performance and unlock untapped
revenue streams.