• Case Study
Trulioo Value Optimization
Fuels 5% Average
Performance Increase and
High Expectations
Crypto Exchange
Targets 180,000
Additional Users
Annually
Trulioo — Case Study
The
Challenge
Accurate, efficient, cost-effective
identity verification is at the heart
of a leading U.S. crypto exchange’s
effort to mitigate fraud and achieve
regulatory compliance. But the
complexity of verifying users
from across the globe presents a
constant challenge.
With millions of customers worldwide and billions
traded every quarter, the stakes are high for the crypto
exchange to ensure customer trust across the globe.
But the organization also wanted to identify areas in its
onboarding process that could be adjusted to improve
performance and optimize costs.
180,000 additional users
onboarded annually.
Trulioo — Case Study
The
Solution
Optimized Identity Verification Across the Globe
The crypto exchange turned to Trulioo for accurate,
streamlined identity verification and value optimization
for those processes around the world.
With Trulioo Person Match capabilities, the crypto
exchange can quickly verify users’ personally
identifiable information — such as name, birthdate
and address — through hundreds of independent,
reliable sources, including government registries and
credit bureaus.
The Trulioo platform also conquers the challenge
posed by hundreds of thousands of different inputs
and outputs and variances in formatting by intelligently
normalizing data and applying natural language
processing to find precise matches. That high-
performing capability can adapt to the exchange’s
requirements for verification match rates, processing
time and transaction costs.
In any given market, there is a menu of potential data
partners. Some offer more population coverage, while
others may provide a faster response time, making the
user onboarding experience smoother.
Each data source has a different price point. So how
would a company know if it’s using the optimal set of
data sources?
Trulioo provides clarity with its value optimization
program, which is a data-led audit that ensures a
customer’s configuration of sources and input quality
in each market delivers the best possible performance.
That program helped Trulioo
identify average performance
increases greater than 5% in key
markets and a predicted 180,000
additional users onboarded
annually for the exchange.
Trulioo — Case Study
The
Results
Up to 38% Performance Increase at No Extra Cost
Trulioo evaluated data sources and
found opportunities to increase
match rate performance by up to
38% in Europe and Asia Pacific at
no additional cost to the crypto
exchange.
match rate
match rate
match rate
match rate
match rate
match rate
Sweden
Italy
Singapore
Denmark
United Kingdom
France
+38%
+4%
+3%
+12%
+3%
+1%
−0.8 seconds
processing time
−0.4 seconds
processing time
−0.4 seconds
processing time
−0.8 seconds
processing time
−3.9 seconds
processing time
−0.9 seconds
processing time
Trulioo — Case Study
A Profitable Trade-Off Unearthed by Data Science
Improving costs, transaction time and verification rates
simultaneously is an easy choice. But in some markets,
balancing those three variables requires a trade-off.
By factoring in the lifetime value of a good, verified
customer, the crypto exchange has advanced control
and flexibility to configure the right balance of growth,
friction and budget. For instance, the exchange’s
optimal approach in Belgium was to add an extra
data partner.
Even though that added to total costs
and processing time, the additional
6% uplift in match rates yielded
an estimated net revenue gain of
$88,800 per month, with a cost
increase of only $1,331 per month.
Trulioo offers its value optimization program on an
ongoing basis to customers, ensuring their identity
verification performance is always optimal. The
value optimization program is led by the Trulioo
data science team, a dedicated force of more
than 30 strategists, analysts and engineers with
formidable experience in identity verification.
Companies such as the crypto exchange rely on
Trulioo to optimize their identity verification stack,
manage costs and onboard the maximum number
of good customers.
About Value Optimization
match rate
match rate
Belgium
Austria
+6%
+5%
+0.7 seconds
processing time
Added additional
data source
+1.5 seconds
processing time
Added additional
data sources
match rate
Netherlands
+11%
+0.5 seconds
processing time
No increase in
transaction cost
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.
Contact us
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.