Trulioo, an id platform with confirmed international protection for particular person and enterprise verification, at this time introduced it has partnered with EQ Financial institution, the digital platform of Canada’s Challenger Financial institution.
EQ Financial institution selected Trulioo Identification Doc Verification, Workflow Studio and Enterprise Verification to “streamline buyer and enterprise onboarding.”
After an intensive market evaluation, EQ Financial institution chosen Trulioo Identification Doc Verification to seize and confirm “an ID doc and selfie when clients open accounts on-line – a important train for a seamless digital banking expertise.”
With superior AI checks, face comparability and liveness detection, EQ Financial institution advantages “from cutting-edge fraud defenses in an evolving menace panorama.”
EQ Financial institution leveraged Trulioo Workflow Studio – “a no-code, drag-and-drop workflow builder – for quick, versatile Identification Doc Verification integration. Workflow Studio permits the financial institution to simply add verification steps and configure onboarding processes based mostly on outcomes at every stage.”
Workflow Studio additionally allowed EQ Financial institution “to rapidly configure a personalized checklist of doc sorts it could settle for for verification to adjust to Monetary Transactions and Reviews Evaluation Centre of Canada (FINTRAC) laws. Trulioo SDKs then tailored to these predetermined guidelines and gave EQ Financial institution clients choices based mostly on the place their paperwork have been issued.”
Mahima Poddar, EQ Financial institution SVP and group head of non-public banking, stated:
“Partnering with Trulioo permits us to proceed assembly our regulatory necessities whereas offering tailor-made, best-in-class buyer onboarding experiences with the least friction and the best likelihood of verification. As many Canadians flip to EQ Financial institution for his or her on a regular basis banking wants, collaborating with Trulioo and its always-available help staff allows us to higher serve our quickly rising buyer base with the pace, safety and expertise they deserve.”
Personalized onboarding experiences, mixed “with Trulioo experience working with main banks and fintechs throughout the globe, present a key benefit for EQ Financial institution to remain forward of evolving business finest practices.”
Steve Munford, Trulioo CEO, stated:
“EQ Financial institution is on the forefront of the digital banking expertise, and our partnership ensures it continues to ship the safety, compliance and comfort clients count on. The customizable, built-in Trulioo platform reduces onboarding friction with versatile workflows that ship the best verification assurance. We look ahead to our ongoing collaboration as EQ Financial institution drives change in Canadian banking.”
As famous within the replace Equitable Financial institution—Canada’s Challenger Financial institution—is “an entirely owned subsidiary of EQB Inc., which trades on the Toronto Inventory Trade (TSX: EQB) (TSX: EQB.PR.C) and serves greater than 578,000 clients. Equitable Financial institution’s wholly owned subsidiary Concentra Financial institution helps Canadian credit score unions and their greater than 6 million members.”
With greater than $111 billion in “mixed property beneath administration and administration, Equitable Financial institution has a transparent mandate to drive change in Canadian banking to counterpoint folks’s lives.”
Based greater than 50 years in the past, Canada’s Challenger Financial institution “offers diversified private and industrial banking, and thru its digital EQ Financial institution platform (eqbank.ca) has been named the highest Schedule I Financial institution in Canada on the Forbes World’s Finest Banks 2021, 2022 and 2023 lists.”
