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Investing.com -- Investing.com can exclusively reveal that WEX has partnered with Trulioo to strengthen digital onboarding and fraud prevention for its European fuel card services.
The payments and fleet management company revealed it has selected Trulioo’s Document Verification and Biometrics technology to replace manual customer checks.
Trulioo provides a global identity verification platform that aims to help companies helps companies achieve regulatory compliance and reduce risk.
The move is said to be aimed at accelerating Know Your Customer (KYC) processes, detecting fraudulent activity and ensuring compliance with regulatory standards, while offering a smoother experience to clients.
“Partnering with Trulioo marks an important step in our ongoing commitment to innovation and delivering the best possible experience for our customers,” said William Fitzgerald, vice president for fraud and financial crimes at WEX.
Fitzgerald explained that by replacing “manual, time-consuming processes with intelligent verification,” they are helping to “reduce fraud risk, streamline onboarding and create a seamless digital experience” for customers.
“Trulioo is the ideal partner as we evolve our fuel card offerings across Europe and beyond,” Fitzgerald added.
The collaboration follows what WEX described as a competitive evaluation of identity verification providers.
According to the company, Trulioo’s combination of global document verification, KYC compliance expertise, and user-friendly guided document capture features were decisive factors.
Trulioo’s verification tools use biometrics and machine learning to detect forgeries, deepfakes and injection attacks.
The platform, which has iBeta Level 2 certification, relies on a proprietary algorithm trained on more than 25 million images and is designed to recognise more than 200 biometric markers.
“Our partnership with WEX reflects a shared commitment to faster, safer and smarter customer experiences,” said Trulioo CEO Vicky Bindra. “Across regulated industries, businesses are looking to balance smooth digital experiences with the highest standards of security and compliance.”