In the fraud prevention arena, Trulioo is a well-known global online identity verification service. For over a decade, businesses have used its services to authenticate and verify customers and users for a wide range of purposes.
But what exactly does Trulioo help with? And how does it stack up against SEON’s solutions? Could they work together? Today, we take a closer look.
Disclaimer: All information in this article was gleaned from online research including user reviews. We have not manually tested all the tools. However, we ensured the information was correct as of spring 2022. Feel free to contact us to request an update/correction.
Based in Canada and founded in 2011, Trulioo markets itself as a vendor with a holistic approach to identity verification and user authorization, as it covers a few different aspects of this process as well as promises to do so for customers around the world.
In particular, according to the official website, Trulioo is able to verify over 5 billion people as well as 330 million businesses with accuracy, thanks to its GlobalGateway system. This is a digital identity network that connects to different databases and sources, as well as third-party verification services, to provide a wealth of information about an individual.
Though it can also be useful in your fight against fraud, Trulioo primarily focuses on covering your anti-money laundering (AML), customer due diligence (CDD) and know your customer/business (KYC/KYB) needs.
This means that companies in sectors such as financial services, lending and fintech can fulfill their legal obligations easily as well as know who they’re transacting with, including approving new custom more quickly and with more confidence.
- Identity Verification: Verify customer identity in almost any country, including conducting enhanced due diligence.
- Business Verification: Know-your-business checks to facilitate safer transactions between companies.
- ID Document Verification: Intuitive face capture and automation for passports, national IDs, driver’s licenses, voter ID, etc.
- AML Watchlist: Trawls through PEP lists, sanctions lists, law enforcement databases, etc.
- Trulioo solutions can be combined or used in isolation.
- Works in 190+ countries, accepting 4,200 types of documents and running facial biometrics.
- Reliable legal compliance partner.
- No social footprinting/online platform checks.
- Could go further for KYB in smaller countries, per customer reviews.
- Existing customers have voiced concerns over false positives.
SEON vs Trulioo Features Comparison Table
|Email data enrichment||Yes||No|
|Phone data enrichment||Yes||No|
|Find user social media||Yes, checks 35+ platforms||No|
|Machine learning suggestions||Yes||No|
|Industry preset rules||Yes||No|
|Custom API fields||Yes||No|
|Integration with other tools||Yes||No|
|Cost per month||Flexible tiered pricing based on API requests starting from $99||Tiered pricing system|
Where Trulioo wins over SEON
- Can help fulfill legal KYC, CDD and AML obligations.
- Returns results from law enforcement and official databases.
- Can be combined with SEON for biometric and document verification.
Where SEON wins over Trulioo
- Comprehensive fraud prevention that includes digital footprints, device fingerprinting, velocity checks, BINs, etc.
- Frictionless email lookups allow for verification of anyone, anywhere, including the underbanked/unbanked.
- Can be combined with Trulioo to add a digital fingerprinting dimension and strong fraud mitigation.
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