EQ Bank, a leader in digital banking, has forged a strategic partnership with Trulioo, an industry-leading identity verification platform.
The collaboration between EQ Bank and Trulioo is driven by a mutual goal to streamline the customer and business onboarding process. By integrating Trulioo’s Identity Document Verification, Workflow Studio, and Business Verification services, EQ Bank aims to offer a tailored, frictionless onboarding experience that meets regulatory requirements while ensuring high verification success rates.
Trulioo brings to the table its vast expertise in identity verification, covering 195 countries and capable of verifying over 13,000 ID documents and 700 million business entities. This partnership enables EQ Bank to leverage Trulioo’s advanced AI, face comparison, and liveness detection technologies, enhancing fraud protection and compliance with FINTRAC regulations.
This partnership heralds a significant leap towards modernizing financial onboarding processes, with EQ Bank utilizing Trulioo’s no-code Workflow Studio for customizable verification flows. This collaboration not only supports EQ Bank’s commitment to security and compliance but also aligns with Trulioo’s mission to foster trust in the digital economy through high-assurance verification.
Additional benefits include the ability for EQ Bank to offer customized onboarding experiences, reflecting Trulioo’s commitment to working alongside major banks and FinTechs globally. This ensures that EQ Bank remains at the forefront of digital banking, providing secure, compliant, and convenient services to its customers.
Highlighting the partnership, EQ Bank SVP and group head of personal banking, Mahima Poddar, remarked, “Partnering with Trulioo allows us to continue meeting our regulatory requirements while providing tailored, best-in-class customer onboarding experiences with the least friction and the highest chance of verification.
“As many Canadians turn to EQ Bank for their everyday banking needs, collaborating with Trulioo and its always-available support team enables us to better serve our rapidly growing customer base with the speed, security and experience they deserve.”