Avoka Launches Real-Time Digital Identity Verification

Avoka, which helps financial services companies acquire digital customers, has announced a strategic partnership with Trulioo, a provider of instant identity verification for international enterprises.

Through the terms of that partnership, which was announced Monday (Nov. 2) in a statement by the two companies, the technology targets will include real-time, AML- and KYC-compliant verification systems.

To that end, the companies have debuted a new platform, which allows international banks to ensure digital identity authentication across 40 countries — reaching as many as 4 billion people around the globe, according to the release. The solution ties together Trulioo’s GlobalGateway and Avoka Transact, thus creating a single platform that stretches across omnichannel initiatives and across any manner of hardware device, including mobile.

[bctt tweet=”To that end, the new platform allows international banks to ensure digital identity authentication through 40 countries.”]

In a statement accompanying the release, Philip Copeland, chief executive officer of Avoka, said that “today’s global marketplace makes identity verification a complex and challenging part of initial customer engagement for banks, whether that be account opening, loan applications or financial onboarding. Our partnership with Trulioo enables us to simplify this process significantly, with the added benefit of helping our customers be compliant in all of the markets they operate in. And they can now do it without leaving the Avoka Transact platform, which means an end-to-end digital customer engagement experience.”

Two months ago, Avoka announced the launch of a new platform aimed at streamlining financial institutions’ onboarding process to bring on new retail customers. That Avoka Transact Bundles platform lets financial institutions and their wealth managers set up digital properties through which new customers can be brought onto different financial products across a single application. The company said that as many as 180 million product onboarding transactions come through retail financial institutions on an annual basis. Opportunities abound, said Avoka, in setting up new clients across several products at one time.

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