UK-based Trulioo has entered a collaboration with Mastercard to provide identity verification solutions that can simplify digital onboarding for merchants and consumers. As part of their collaboration, Trulioo and Mastercard intend to offer identity verification solutions that can improve the digital onboarding process for merchants and consumers, while mitigating fraud.

The partnership follows both companies’ commitment to enhancing consumer and merchant onboarding experience and safeguarding the landscape from a range of fraud threats. More information on Trulioo and Mastercard’s collaboration The partnership is set to allow Trulioo to utilise Mastercard’s Identity solutions to enable its Person match and Risk Intelligence products, offering more identity awareness and insights, as well as risk scores via a customisable dashboard. The current move focuses on diversifying Trulioo’s product suite and providing additional solutions beyond API-based products, whilst further improving the company’s customers’ onboarding processes. Moreover, by joining forces with Trulioo, Mastercard aims to strengthen its Onboard Risk Check product by including the company’s global business identity verification services.

The collaboration is set to provide an additional layer of assurance to companies’ merchant and consumer onboarding solutions, thus supporting them in mitigating risk, minimising fraud, and increasing trust in global payments. According to Mastercard’s officials, considering that the ability to verify the identity of individuals on both sides of digital transactions assists the advancement of the digital economy, the alliance with Trulioo aims to further support this expansion. Currently, Trulioo works towards enabling global enterprises to optimise the cost of onboarding customers while defending against fraud and maintaining regulatory compliance. The company’s solutions are leveraged by organisations operating in the financial, payments, and marketplace landscape to allow them to navigate complex identity and business verification difficulties.

Representatives from Trulioo underscored that, as companies are faced with the challenges posed by the digital payments industry and the fraud and business identity theft are increasing, the collaboration with Mastercard intends to provide a more secure global digital environment for both merchants and customers. By connecting individuals with merchants, banks, and businesses worldwide, Mastercard focuses on allowing them to interact confidently and conveniently. Through its identity insights, machine learning, and biometrics, the company aims to enable organisations, including Trulioo, to verify and authenticate more customers. .