Risk-decisioning platform becomes the latest partner to join Mia-Platform’s expanding portfolio
End-to-end platform builder Mia-Platform has announced Trustfull, an identity verification and fraud detection specialist, as the latest addition to its growing portfolio of partners.
Digital identity verification solutions are in demand as organisations seek to offer fast and secure onboarding for new customers. Unfortunately, fraudsters and scammers will look to slip through the net and bypass the digital onboarding process, which causes significant reputational and financial consequences. In fact, losses from fraud and cybercrime in the UK amounted to more than £590 million between April to June 2023.
Trustfull helps safeguard digital businesses with a customisable platform that inspects and analyses digital signals and footprint data. Its proprietary technology is capable of assessing risk from over 300 touchpoints including email, phone, IP, device and browser behaviour data to help organisations verify the identity of users when signing up to an online service.
This new partnership means Trustfull’s full range of digital onboarding services will now be available via the Mia-Platform marketplace, enabling businesses to build robust and secure digital applications to easily verify new customers and improve the user experience.
Bruno Natoli, CEO of Mia-Platform’s financial offering Mia-FinTech, is excited about the collaboration: “Mia-FinTech is committed to making digital transformation as straightforward to businesses in the financial world as possible by offering a digital platform that allows financial institutions to develop and deliver regulated digital financial services on a global scale, based on Mia-Platform’s world-wide recognised technologies. Mia-Platform’s expanding partner program enhances this offering by integrating with leading technology service providers from a variety of industries to create end-to-end solutions. We’ve been focused on creating a best-in-class solution for swift and secure customer onboarding, and developers will now be able to easily integrate Trustfull’s digital identity verification capabilities to eliminate manual ID verification.”
Trustfull’s technology can verify the phone numbers and addresses of end users with a scoring system powered by AI and ML algorithms. It is also capable of recognising browser behaviour data to build more accurate profiles of prospective customers.
“The anonymity of the online world is the biggest hindrance to digital trust and has facilitated a rise in sophisticated fraud,” comments Paolo Mardegan, Chief Commercial Officer at Trustfull. “Borne from the idea that businesses are operating in the dark, Trustfull illuminates the digital vacuum, helping organisations build reliable customer profiles by scoring digital footprint data sourced from a variety of touchpoints.”
Onboarding is one of the most difficult functions for businesses to perfect as they must fine-tune their process in line with the diametrically opposed goals of risk aversion and end user satisfaction.
“Businesses are in a catch-22 situation,” Mardegan explains. “They must adopt digital technologies to be competitive but also accept possible exposure to high rates of online fraud. Trustfull helps businesses navigate this issue by granting them the power to accept and decline onboarding attempts if certain criteria are not met. As we look to expand our reach, we are excited to be a part of the Mia-Platform ecosystem to help a growing customer base operate with conviction in the digital world.”
The threat of fraud has never been as great as it is today, with estimates from the Crime Survey for England and Wales showing that there were 3.3 million reported fraud offences in 2023. Recognising the need for digital onboarding solutions to help businesses counter this threat, Mia-Platform is leveraging the expertise of Trustfull to help developers customise unique and secure customer journeys.
Natoli finished: “Trustfull’s commitment to building trust in the digital world aligns with our core values of utilising technology to solve business issues. By working together, we can continue to deliver innovative and secure solutions for our customers.”