Trulioo's Global Identity Verification Solution Helps Reduce Fraud for Cross-Border Commerce
VANCOUVER, May 31, 2016 /CNW/ - Trulioo, the leading global identity verification company, today announced that its flagship identity verification solution, GlobalGateway, has won the 2016 Card-Not-Present (CNP) Award in the 'Best Identity Verification and Authentication Solution' category, a new category introduced this year.
"As card-not-present payments become increasingly integrated into mobile and omnichannel strategies, the complexity has opened the door even wider for bad actors seeking to steal personal information from consumers and leverage it for fraud," said Steve Casco, founder of CardNotPresent.com and the CNP Expo. "Our new categories this year—and the number of companies that entered in those categories—reflect the response of an entire industry to the threats facing CNP merchants. The CNP Awards continue to represent the very best the world has to offer supporting card-not-present payments."
Trulioo was selected by a panel of industry judges and is the first to be named the winner of the 2016 CNP Award for Best Identity Verification and Authentication Solution. The new category emphasizes the importance merchants are now placing on customer identity, both in how it can reduce fraudulent chargeback losses specifically related to cross-border transactions, but also in knowing who the merchant is dealing with online.
"Cross-border online commerce continues to grow exponentially and merchants are increasingly turning to real-time global customer verification to further drive revenue and protect their bottom line," said Jon Jones, President of Trulioo. "In today's digital world, Knowing Your Customer (KYC) isn't just for banks and financial services companies anymore. With reliable data and advanced technology, you can automate ID verification during customer registration or checkout to further reduce chargeback fraud and prevent high risk country-to-country channels from being shut down".
GlobalGateway provides secure access to more than 145 global data sources from over 45 countries to instantly verify 4 billion consumers through a single API integration. By comparing submitted transaction information against information collected and hosted by trusted and reliable data sources, GlobalGateway offers transparent identity verification capabilities for reducing fraud and satisfying regulatory compliance requirements.
Trulioo is a global ID verification company that provides advanced analytics from traditional and cyber data sources to instantly verify identities online. The company's mission is to solve global problems associated with verifying identities online by powering fraud prevention and compliance systems for hundreds of clients worldwide in an effort to increase trust and safety online. Trulioo's bank-grade identity verification product, GlobalGateway, enables businesses to perform frictionless identity verification for 4 billion people in over 45 countries via more than 145 data sources - the widest coverage in the market. GlobalGateway helps businesses comply with Anti-Money Laundering (AML) and Know Your Customer (KYC) identity verification needs, and provides a reliable and trustworthy way for businesses to evaluate new and existing users through one, single portal or API. For more information, visit www.trulioo.com.
Image with caption: "Trulioo was presented with the 2016 CNP Award for Best Identity Verification Solution in Orlando, Florida. (CNW Group/Trulioo)". Image available at: http://photos.newswire.ca/images/download/20160531_C1336_PHOTO_EN_701934.jpg
For further information: Kim Hong, [email protected], (888) 773-0179