online identity verification
Credit: Trulioo

The purchase of HelloFlow will streamline client on-boarding for its customers, the Vancouver-based online identity verification provider says

The world’s top provider of digital identity verification just made life easier for its customers everywhere.

Vancouver-headquartered regtech player Trulioo has acquired HelloFlow, a Danish developer of easy-to-use client on-boarding, monitoring and digital workflow software. The acquisition combines Trulioo GlobalGateway, the largest data and identity services network for business and individual verification, with a full suite of orchestration, on-boarding workflow and risk management capabilities, Trulioo said in a release.

(Wonder what orchestration means in this context? So did we. “Orchestration is the automated configuration, management and coordination of computer systems, applications and services,” according to enterprise open source outfit Red Hat. “Orchestration helps IT to more easily manage complex tasks and workflows.”)

Trulioo, which saw its value surge to US$1.75 billion last year, serves some five billion consumers and 330 million organizations worldwide. Last fall, it was one of two B.C. companies to make the 2021 global Fintech 250 list of promising startups.

READ MORE: B.C. unicorns Dapper Labs and Trulioo named to global Fintech 250

The tech unicorn is betting that as the digital economy keeps growing, more businesses will want to make the client on-boarding experience smoother. Its tie-up with HelloFlow will let them do that on a single platform that also handles compliance with know-your-customer, anti-money-laundering and other fraud prevention rules.

“Establishing and securing trust online is a foundational step for all digital activity,” said Trulioo president and CEO Steve Munford. “Our ability to verify both businesses and individuals globally, combined with HelloFlow’s advanced orchestration, delivers unmatched capabilities and helps us accelerate an end-to-end identity platform that meets the evolving needs of our customers.”

READ MORE: Q&A: Trulioo CEO Steve Munford weighs in on digital identity fraud and the future of online trust

Trulioo plans to double its 320-member team in 2022.