Trulioo, a pioneering vendor of anti-money laundering services has recently introduced updates to its platform GlobalGateway. This update will provide better AML, KYB (Know Your Business), and proof of address services.
Businesses are under significant regulatory pressure to guarantee that new and established clients are being screened against relevant standardized criteria, while also addressing customer satisfaction for convenient and simple digital onboarding. The newly unveiled GlobalGateway enhancements are intended to help Trulioo clients satisfy these objectives while also complying with complicated and diversified regulatory standards worldwide.
Michael Ramsbacker, Chief Product Officer, Trulioo, stated, “As a global service provider, Trulioo must continuously innovate to meet an increasingly varied and diverse range of regulatory compliance requirements that our customers face every day. We are dedicated to bringing forward solutions that address the changing needs of our customers and the market as a whole – both at the point of onboarding and beyond – and I am pleased to share that this GlobalGateway update does just that.”
Enhanced GlobalGateway Watchlist, UtilityID, and updated Business Verification are all part of the update. The programs run together to simplify client and corporate onboarding while also offering complete fraud, money laundering, and illicit behavior monitoring throughout the client’s lifetime.
One of the most comprehensive watchlist services available is GlobalGateway Watchlist. It integrates to customers’ eIDV onboarding journeys through simple API integration to allow screening and monitoring of an organization’s users against 6,000+ worldwide watchlists and 20,000+ Adverse Media lists – both at onboarding and ongoing.
UtilityID is a consent-based identity authentication platform that validates addresses using utility provider data, eliminating the necessity of manual downloads, uploads, scanning, and other high-friction document verification processes. Because utility documents are easily manipulated, this is also a more secure method of obtaining address confirmation. Trulioo customers can use UtilityID to achieve Proof of Address regulatory standards in real-time, deliver a better onboarding journey, improve address correctness, and reduce operation times due to the physical utility document and ID document inspection.
From high-level data to stringent Ultimate Beneficial Owner verification, the expanded Business Verification solution allows firms to check a business’ facts anywhere in the world. It uses cutting-edge intelligence to manage the significant issues of doing business on a global scale, such as managing multiple rules, different standards for Business IDs, addresses, and local languages, and automatically identifying the best-suited source of information. KYB customers may readily obtain reliable and up-to-date information that supports compliance requirements and due diligence thanks to Trulioo’s unrivaled worldwide network of data sources.