Munford, who led the company to unicorn status, will work with Bindra to ensure a smooth transition

Trulioo, an industry-leading identity platform with proven global coverage for person and business verification, today announced across-the-board advances in its state-of-the-art Identity Document Verification from continuous innovation around proprietary AI and machine learning models.Trulioo has found advanced fraud techniques – such as ID alterations and deepfakes – account for 16% of all attacks, which raises the stakes for ongoing document verification innovation. Trulioo has met the challenge by building and continuously refining best-in-class AI and machine learning models that fend off sophisticated fraud while ensuring accuracy and minimizing friction for users.The latest round of innovation around the models in the past six months led to:Up to a 60% reduction in job processing times, enabling faster identity verificationA 20% increase in verification rates, helping businesses onboard more legitimate customersUp to a 20% rise in auto-approval rates, minimizing manual reviews and reducing friction for users and cost for organizationsAI and Machine Learning Features Power Faster, Smarter VerificationAdvanced AI and machine learning features from Trulioo are setting a new benchmark in document verification.Next-Generation Autocapture: Automatically captures multiple high-quality images per second using machine learning to improve fraud detection in real time and ensure accuracy in document verification and biometrics without manual effort.Advanced Face Matching: Uses deep learning models and convolutional neural networks to extract and analyze unique facial features and calculate a similarity score for precise identity verification.Intelligent Document and Liveness Authentication: Applies machine learning to verify ID documents across the globe by detecting security features, extracting key information and ensuring the authenticity and liveness of the document. That improves accuracy, strengthens regulatory compliance and minimizes the need for manual review.Robust Fraud Detection: Detects and analyzes documents and selfies for signs of forgery, deepfakes and digital manipulation by employing pattern recognition to identify anomalies in security features such as holograms, watermarks and microprinting.“We built our proprietary, in-house machine learning models from the ground up, which gives us the agility to quickly respond to new threats and our customers’ evolving needs,” said Hal Lonas, Trulioo chief technology officer. “With a relentless focus on innovation, we’re transforming the way businesses verify identities and defend against sophisticated fraud. The results we’ve seen during the past six months prove that our customers thrive when we stay on the cutting edge of technology.”

With a US trade war now in motion, Ireland is becoming a critical landing spot for Canadian tech companies