Collabria Partners with Trulioo to Power Cardholder Digital Identity Verification

Canada's largest credit union credit card issuer will leverage Trulioo world-class technology to streamline the cardholder onboarding process

TORONTO, Nov. 19, 2024 /CNW/ - Collabria Financial Services, Canada's largest credit union credit card issuer, today announced that they will partner with Trulioo, a global leader in digital identity verification. This collaboration will support a streamlined verification process for new cardholders. By integrating Trulioo capabilities, Collabria will enhance the trust and safety of their digital platforms and continue their commitment to providing secure and innovative financial solutions.

Trulioo state-of-the-art, in-house verification capabilities will deliver fast, compliant and automated onboarding experiences that meet Collabria's unique business needs. As Collabria's operations continue to grow, the integration of Trulioo will allow the full automation of their Know Your Business review in addition to their current Know Your Client process, ultimately increasing member and cardholder satisfaction.

Trulioo advanced identity verification technology enables the verification of more than 5 billion people and 700 million business entities across 195 countries. The Trulioo platform will support Collabria's operations in the reduction of fraud, while ensuring a secure, efficient method to welcome new cardholders.

"The partnership with Trulioo marks a pivotal step forward in enhancing our security measures, while delivering a more streamlined, customer centric process," said Jean-Marc Handfield, Chief Executive Officer at Collabria. "With their cutting-edge technology, we're elevating our measures against fraud and ensuring a faster and most importantly safer, more secure experience for our cardholders."

"We are proud to partner with Collabria to deliver streamlined identity verification solutions for their cardholders," said Steve Munford, CEO of Trulioo. "At Trulioo, our focus is on providing industry-leading solutions that meet the evolving needs of the payments industry. By combining our intelligent technology with Collabria's expertise, we're confident in our ability to enhance their verification processes, improve onboarding outcomes, and open windows of possibilities for their partners and members."

About Trulioo

Trulioo is the world's identity platform, trusted by leading companies for their verification and fraud prevention needs. Offering business and person verification across the globe, Trulioo covers 195 countries and can verify more than 14,000 ID documents and 700 million business entities while checking against more than 6,000 watchlists. Trulioo enables global companies to prevent fraud with hundreds of predictive risk signals, consortium data and industry-specific machine learning models. Its comprehensive suite of in-house capabilities, integrated across a single automated platform, powers customizable onboarding workflows tailored to meet any market requirement. Combining its state-of-the-art technology with expertise across diverse markets, Trulioo enables the highest verification assurance levels, optimizing onboarding costs and fostering trust in the global digital economy.

About Collabria Financial

Serving over 98% of credit unions across Canada, Collabria opens a world of possibilities, empowering more than 550,000 cardholders to dream big, and make it happen. Since 2015, we've been revolutionizing the way credit card products and services are delivered. We offer full-service credit card issuance, relentlessly simplifying the process, and making it possible for our partners to enrich the financial lives of their members. Through the ongoing delivery of collaborative solutions, we are seen as a trusted advisor that understands our partners' business needs along with the payments industry landscape. Our dedication to being the first card in wallet for all cardholders opens windows of possibilities for our partners and their members. For more information, visit collabriafinancial.ca.

SOURCE Collabria Financial Services Inc

Media Contacts: Greg Feniak, [email protected]