About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Refinitiv and Trulioo Partner on New Digital Identity Product for KYC

Subscribe to our newsletter

Refinitiv today launched Qual-ID, a new solution combining digital identity verification and document proofing from Trulioo with risk screening from its World Check database to help improve digital onboarding of consumers and compliance with KYC and anti-money laundering (AML) regulations around the world.

The launch follows the decision earlier this year to withdraw the firm’s KYC-as-a-Service offering and focus on its point solutions – including World Check, Media Check, EDD and in the area of digital identity.

The new product enables organisations to verify identities against trusted data sources, proof legal documents, conduct anti-impersonation checks, and screen for regulatory and financial risk; such as sanctions, PEPs and adverse media. The process can be completed in one transaction and via a single point of access. It comprises three steps: identity verification, identity proofing (using facial comparison and biometric authentication), and risk screening using Refinitiv’s Risk Intelligence data via World Check.

“Financial services are in the midst of a digital identity revolution, which is being driven by a host of inter-connected factors such as regulations mandating enhanced privacy and consumers who demand more choice and flexibility,” says Phil Cotter, Managing Director of the Risk business at Refinitiv. “Qual-ID was built to solve these challenges, backed by established, proven technology and reliable data from two leading organisations. Qual-ID enables financial services providers to reap the benefits of the digital identity revolution through a global solution that facilitates trusted transactions regardless of location.”

The product is the first outcome of the strategic partnership between Refinitiv and Trulioo signed in June 2019 with the goal of modernising KYC processes and creating new verification-based solutions to reduce fraud and financial crime.

“Being a financial institution is not simple these days; regulations are rapidly evolving, money-laundering is at an all-time high and consumers are increasingly mobile yet expecting seamless user experiences. Unfortunately, many solutions fail to address this complex environment, leading to revenue loss and abandonment,” says Stephen Ufford, CEO and founder of Trulioo.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Unpacking Stablecoin Challenges for Financial Institutions

The stablecoin market is experiencing unprecedented growth, driven by emerging regulatory clarity, technological maturity, and rising global demand for a faster, more secure financial infrastructure. But with opportunity comes complexity, and a host of challenges that financial institutions need to address before they can unlock the promise of a more streamlined financial transaction ecosystem. These...

BLOG

The Year in Data: 2025’s Biggest Trends and Developments

The past 12 months saw breakneck developments in how firms applied artificial intelligence. AI began to change from a mere tool to an integral part of capital markets operations. The year also saw data services providers launch multiple products for the growing private markets investment sector. Data Management Insight spoke to leaders in our industry...

EVENT

RegTech Summit New York

Now in its 9th year, the RegTech Summit in New York will bring together the RegTech ecosystem to explore how the North American capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Tackling the Data Management Challenges of FATCA

As the July 1, 2014 deadline for compliance with the Foreign Account Tax Compliance Act – or FATCA – approaches, financial institutions around the world are working to ensure their data management and operational systems will meet the requirements of the US legislation. This report discusses the requirements of FATCA and how the legislation is...