Marking the one-year anniversary of its Singapore office, Trulioo, the identity platform for person and business verification, has revealed that it achieved a 90 per cent business verification rate across the APAC region, including in markets with minimal data availability and multiple languages.
Trulioo explained that its commitment to Asia-Pacific (APAC) has proved vital for payments providers, online marketplaces and financial services companies expanding into Europe and North America, as well as for organisations venturing into the region.
Trulioo highlighted how its 24/7 implementation support helps APAC-based brands expand into new markets, meet complex regulatory requirements and quickly onboard customers and merchants.
It revealed that it has supported one e-commerce platform to quickly verify brands in China and the US, saving more than a week of manual processing time onboarding each business. Meanwhile, a global remittance provider has expanded into 30 markets, including Bangladesh, China, the US, India, Indonesia and the Philippines, with Trulioo support. Its largest market is China, where Trulioo delivers an average match rate of 92 per cent for the provider’s target demographic.
Ivan Yang, APAC operations director at Trulioo heads the Singapore office and has seen the firm’s global footprint expand under his guidance. He has helped develop strategic alliances with over 400 partners across 50 countries.
“Our customers rely on cutting-edge, customised capabilities to meet their full range of verification needs, no matter the region or business type,” he explained. “Our 24/7 implementation support has been instrumental in helping our customers expand and meet regional compliance mandates. The APAC market is dynamic, and we’re proud to be there around the clock with verification guidance that drives measurable growth.”
Propelling Trulioo growth across APAC
Trulioo also helps APAC organisations navigate complex regulatory obligations while doing business overseas, particularly in markets such as Europe and North America. That support includes automating manual Know Your Business processes, such as mapping cross-border links among businesses and owners.
Steve Munford, CEO of Trulioo, discussed the identity platform’s effort in the region: “APAC is pivotal to Trulioo, and Ivan has been a force in driving unprecedented growth throughout the region. In one year, he has assembled an exceptionally dedicated team adept at providing unparalleled support to customers while driving innovation and propelling our growth throughout the region.”
Trulioo also offered further examples of how it has supported businesses in the past year:
- A global e-commerce brand working with Trulioo has identified and verified over one million Chinese businesses and their owners.
- A payment processor in APAC that onboarded sole proprietorships at scale partnered with Trulioo and has now expanded that verification to Japan, Canada, Australia and the UK.
