Trulioo and Nium Join Hands To Enhance Cross-Border Payments By CIOTechOutlook Team

Trulioo and Nium Join Hands To Enhance Cross-Border Payments

CIOTechOutlook Team | Monday, 22 April 2024, 09:10 IST

Nium, a cross-border payments firm has incorporated the Trulioo Person Match identity verification capability to provide quick, compliant payment experiences for the operations in UK.

Trulioo's capabilities and knowledge have enabled payments firm to navigate highly regulated markets, making sure anti-money laundering (AML) and know your customer (KYC) compliance for transactions on both ends, including thin-file consumers, since their alliance began in 2015 for Nium's North American operations.

Over 100 currencies and 190 markets are served by Nium's real-time, cross-border payments network, which enables payments to bank accounts, digital wallets, and cards. In order to meet the stringent KYC, AML, and counter-terrorist financing controls required by money service business licenses across multiple markets, Nium's operations in the United Kingdom are bolstered by the extended Trulioo partnership. As a result, extensive administrative or engineering efforts are no longer required.

Dylan Lowrey, general counsel at Nium, commented: “When you are delivering new compliance solutions, you want a proven and trusted partner with global, 24/7 support to guide you and explain the landscape.

“As we assessed our UK compliance requirements, leveraging our trusted relationship with Trulioo only made sense. Trulioo Person Match provides us with comprehensive data sets, which are crucial for identity verification.”

While Steve Munford, CEO at Trulioo, adds: “Moving payment and transaction operations across borders doesn’t have to be a headache. Our unparalleled global coverage and easily integrated APIs deliver comprehensive data sets that accelerate verification and expedite market expansion without elaborate infrastructure overhauls.