JP Morgan Payments has forged a partnership with Trulioo, a leading identity verification software provider. This collaboration aims to strengthen both personal and business identity verification services offered by JP Morgan.
JP Morgan and its Legacy
JP Morgan Payments, a formidable player in the financial industry, proudly processes over $9 trillion in payments daily, spanning across more than 160 countries and dealing in 120 different currencies. The institution’s dedication to security and efficiency has led to this alliance with Trulioo.
As part of this partnership, JP Morgan Payments will harness Trulioo’s cutting-edge identity verification technology, encompassing person matching and identity document verification. This integration is set to streamline the payment experience for JP Morgan’s vast clientele.
Trulioo’s technology is designed to provide real-time access to an extensive array of government agencies, public records, diverse data sources, and document types. This comprehensive coverage enables swift and accurate verification of both individuals and businesses on a global scale. Additionally, it significantly reduces the risk of fraud and other financial crimes within JP Morgan’s extensive payment ecosystem.
The partnership between JP Morgan Payments and Trulioo underscores the finance industry’s ongoing commitment to security and innovation. By combining JP Morgan’s global reach with Trulioo’s state-of-the-art verification tools, this collaboration promises to deliver a safer and more efficient payment experience for customers worldwide through the bank-fintech partnership.
“We chose the platform because of its breadth of personally identifiable data sources, match rates and global footprint,” explains Ryan Schmiedl, managing director – global head of trust and safety for JP Morgan Payments.
“Trulioo has the trusted authentication and verification experience we want to offer clients and additional layers of protection from fraud during the onboarding experience and beyond.”
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