TruNarrative has augmented its document verification capabilities through a new partnership with TrustID. The latter is based in the UK, and uses a combination of machine learning and human review to confirm the authenticity of an identity document.
Thanks to the new partnership, TruNarrative customers will be able to able to make TrustID a default part of their onboarding process, giving them the option to refer identity documents for a manual review. TrustID’s team currently analyzes thousands of documents on a weekly basis, and spots thousands of fake documents over the course of a full year.
By the same token, TrustID customers will be able to take advantage of TruNarrative’s fraud prevention offerings. The company’s technology has been integrated into the TrustID platform to provide clients with Know-Your-Customer, address verification, and sanction checks during the onboarding stage. TruNarrative also offers Anti-Money Laundering and transaction monitoring services, and supports face-based biometric authentication thanks to its partnership with Jumio.
“During these challenging times, it’s crucial for firms to ensure they have robust identity document processes in place,” said TrustID CEO Tony Machin. “By integrating our offerings, we can help give clients confidence that the identity documents which they are seeing are genuine and they have an effective way to detect fraudulent documents.”
“TrustID bring a wealth of knowledge that our customers can use as an alternative or enhancement to automated document review, allowing internal fraud teams to make informed onboarding decisions,” added TruNarrative Data Partnerships Head Andy Pearson.
The TruNarrative API is designed primarily for the financial industry, and generates a risk score for potential customers. Paragon Bank recently adopted the solution to help facilitate the distribution of Bounce Back Loans in the UK, while ikigai has leveraged TruNarrative’s biometric onboarding features to protect its wealth management app and deliver a smoother experience for its customers.