Nium Partners with Trulioo for Enhanced Payment Compliance
Trulioo, an identity platform announced at its collaboration with Nium, the global cross-border payments firm. Nium integrated the Trulioo Person Match identity verification capability to deliver faster and compliant payment experiences for its U.K. operations.
The companies first partnered in 2015, initially for Nium’s North American operations. Since then, the partership has enabled Nium to work across the regulated markets and enforce Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance for their customers. Nium today supports a real-time, cross-border payments network for collections and payouts to bank accounts, digital wallets and cards in more than 100 currencies and 190 markets.
The expanded Trulioo partnership allows Nium to comply with KYC, AML and counter-terrorist financing controls required by money service business licenses in most markets. With Trulioo, Nium is in a better position meet comply to the regulations.
“When you are delivering new compliance solutions, you want a proven and trusted partner with global, 24/7 support to guide you and explain the landscape,” said Dylan Lowrey, General Counsel at Nium. “As we assessed our U.K. compliance requirements, leveraging our trusted relationship with Trulioo only made sense. Trulioo Person Match provides us with comprehensive data sets, which are crucial for identity verification.”
Trulioo optimizes verification speed and match rates with algorithms, global and local data source coverage, and source sequencing.
“Moving payment and transaction operations across borders doesn’t have to be a headache,” said Steve Munford, Trulioo CEO. “Our unparalleled global coverage and easily integrated APIs deliver comprehensive data sets that accelerate verification and expedite market expansion without elaborate infrastructure overhauls. The latest chapter in our long-standing partnership with Nium illustrates how data excellence, market expertise and a shared commitment to compliance cultivate success anywhere in the world.”
