At the Money20/20 conference, identity platform Trulioo announced a “groundbreaking” set of product enhancements designed to redefine Know Your Business (KYB) verification. The company is expanding its platform to power a “complete digital trust life cycle,” moving KYB from a simple onboarding check to a continuous, subscription-based service.
Trulioo is strategically shifting the KYB business model. Traditionally a one-time or periodic check, the new “Continuous Business Monitoring” feature transforms it into a real-time (SaaS) risk monitoring service. This tool will provide automated alerts on company status changes, ownership transfers, and sanctions exposure, creating a stickier, recurring-revenue product.
Furthermore, Trulioo is expanding the source of truth for verification. Its new “Web and Social Analytics” feature uses AI to analyze a business’s “digital footprint” across websites, directories, and social platforms. This is designed to uncover inconsistencies that registry data alone may miss. This new, unstructured data layer will feed into a more comprehensive “Business Risk and Reputation Scoring,” acknowledging that a company’s digital presence (or lack thereof) is a critical component of its risk profile.
Sources: Trulioo, Financial Post
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By the ID Tech Editorial Team
