Canada’s EQ Bank Partners with Trulioo for Biometric Identity Verification + More Crypto News

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Identity platform Trulioo has partnered with EQ Bank, the digital platform of Canada’s challenger bank and a wholly owned subsidiary of EQB Inc., rated as the top bank in Canada on Forbes’ World’s Best Banks list.

According to the press release,

“EQ Bank chose Trulioo Identity Document Verification, Workflow Studio, and Business Verification to streamline customer and business onboarding.”

The bank selected Trulioo Identity Document Verification to capture and verify ID documents and selfies when customers open accounts online. The tool features advanced AI checks, face comparison, and liveness detection.

The Trulioo Workflow Studio is a no-code, drag-and-drop workflow builder. EQ Bank will use it for fast, flexible Identity Document Verification integration. This tool allows the bank to add verification steps and configure onboarding processes based on results at each stage.

It also enables the bank to configure a customized list of document types it would accept for verification to comply with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) regulations. Trulioo SDKs adapted to the predetermined rules and gave EQ Bank customers options based on the location where their documents were issued.

The announcement added that,

“Customized onboarding experiences, combined with Trulioo expertise working with major banks and fintechs across the globe, provide a key advantage for EQ Bank to stay ahead of evolving industry best practices.”

Mahima Poddar, EQ Bank SVP and group head of personal banking commented that this partnership allows the bank