Trulioo launches document verification and facial recognition for SMBs

By Sunniva Kolostyak

Canadian identity verification provider Trulioo has added document verification and facial recognition to its EmbedID tool, providing fraud and financial crime protection for small and medium-sized businesses (SMBs).

The features will enable an added layer of security for SMBs using the tool – enabling them to verify the authenticity of government-issued ID documents, use facial recognition for liveness detection and ensure the person matches the ID photo.

This will allow organisations to build trust and customer loyalty while protecting against fraud and financial crime, Vancouver-based Trulioo said in a statement.

“Taking a multi-layered approach to identity verification offers businesses the strongest defence against increasingly sophisticated bad actors,” Rutherford Wilson, Director of Growth at Trulioo, said.

By adding the features to its low-code EmbedID solution, which is preconfigured to work with GlobalGateway API, small companies will be able to provide the same level of online protection as multinational organisations. Moreover, SMBs will be able to comply with Anti-Money Laundering (AML) and Know Your Customer (KYC) requirements.

“Adding document verification gives another layer of protection to help reduce risk, especially when combined with reliable identity verification. By enabling both of these capabilities, organisations can have increased confidence in knowing the user is tied to a real identity and that they are who they claim to be online,” Wilson said.

EmbedID clients can copy a snippet of code and paste it onto their website to automatically generate a stylised registration form that is prewired to GlobalGateway to instantly verify personal identification information.

Trulioo added that due to budget restraints, SMBs typically have limited access to bank-grade technology and security solutions, making them an easy target for bad actors. Research from Accenture has found that 43 per cent of cyberattacks are aimed at small businesses, while only 14 per cent are prepared to defend themselves.

“We wanted to build a solution for SMBs that provides battle-tested identity verification, reduced integration costs for IT departments, and an easy to use administrative portal so non-tech individuals can make updates as requirements change,” Wilson said.

“In an age of ongoing digital transformation, it’s essential for SMBs to be able to access the same identity verification solutions used by large organisations to protect their business and scale their company.”