Trulioo and Airwallex Unite for Global Identity Verification
Trulioo and Airwallex Unite for Global Identity Verification
Trulioo, an industry-leading identity platform renowned for its expansive global coverage in person and business verification, is thrilled to announce an exciting expansion of its partnership with Airwallex, an innovative financial platform reshaping global payments. This partnership dates back to their initial collaboration in 2017 and has been crucial for both companies as they navigate new markets and challenges.
Growth and Achievements of Airwallex
Airwallex has achieved remarkable milestones recently, surpassing an impressive $100 billion in annual processing volume, with a near run rate of $500 million. The company proudly holds over 60 licenses and permits worldwide, including money transmitter licenses in 42 U.S. jurisdictions. Adhering to stringent regulations, Airwallex ensures compliance with guidelines issued by the Monetary Authority of Singapore and several other regulatory bodies worldwide.
Enhancing Verification Technology
With Trulioo’s advanced verification technology, Airwallex effectively navigates the complex regulatory landscape. Since incorporating the Person Match and Identity Document Verification solutions into their framework, especially in the APAC region, Airwallex has naturally expanded these capabilities throughout the Americas and Europe. The collaboration evolved further in 2022 with the integration of Trulioo Business Verification, allowing seamless verification of businesses and beneficial ownership.
Partnership Value in Fraud Prevention
“Trulioo delivers a dynamic solution, enabling Airwallex to adapt our identity workflows to outpace fraud and maintain compliance,” remarked Elliot Colquhoun, vice president, IT & Information Security at Airwallex. This partnership with Trulioo plays an essential role in ensuring Airwallex can secure over 100,000 global businesses and facilitate legitimate transactions without disruption.
Verifying Identities Across Borders
The collaboration between Trulioo and Airwallex spans 181 countries. Together, they leverage Trulioo’s robust capabilities, having verified passports from 162 countries and ID cards from 119 different nations. Notably, in 2024, Airwallex achieved significant enhancements in automatic document verification, resulting in a notable decrease in median processing time.
Future Forward with Trulioo
Trulioo's CEO, Steve Munford, expressed pride in supporting Airwallex's phenomenal global presence. “Our cutting-edge verification technology has empowered Airwallex to confidently enter new markets, meet stringent regulatory standards, and foster trust and safety,” Munford stated. The success of this partnership is founded on their shared commitment to innovation and flexibility in addressing compliance challenges.
Agility and Integration Choices
The partnership also offers flexible integration options from Trulioo, such as a modern API and a hosted image-capture SDK, allowing Airwallex to quickly adapt its verification workflows to align with evolving regulations. This vital agility supports the ongoing, rapid international expansion of the company.
About Trulioo
Founded on the principles of trust and verification, Trulioo serves as the world’s identity platform, facilitating verification needs for leading companies globally. The platform spans 195 countries and verifies over 14,000 ID documents, alongside a database of 700 million business entities, continually improving onboarding efficiencies while maintaining compliance with over 6,000 watchlists.
About Airwallex
Airwallex stands as a beacon for modern businesses seeking comprehensive financial solutions. With diverse offerings in payment management, treasury services, and embedded finance, Airwallex is designed to eliminate friction from global financial operations. Proudly serving over 100,000 businesses worldwide, its client roster includes renowned brands like Brex and SHEIN.
Frequently Asked Questions
What is the focus of the partnership between Trulioo and Airwallex?
The partnership focuses on enhancing identity verification solutions to streamline compliance and fraud prevention for businesses operating globally.
What has Airwallex achieved recently?
Airwallex surpassed $100 billion in annual processing volume and reached a run rate of nearly $500 million.
How does Trulioo support Airwallex?
Trulioo provides advanced verification technology that enables Airwallex to adapt its workflows for compliance and fraud prevention.
In how many countries does Trulioo operate?
Trulioo operates across 195 countries, providing extensive verification capabilities globally.
What services does Airwallex offer?
Airwallex offers solutions in payments, treasury, spend management, and more, facilitating seamless financial operations for modern businesses.
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