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Trulioo identity verification software assists firms in complying with regulations

Trulioo is aiming to improve its identity verification skills by integrating a complete set of global business and person verification services with no-code workflow development, low-code integrations, and more, all on one platform.

Customers of Trulioo have access to personal identification information matching, identity document verification, utility data for address verification, watch-list screening and ongoing monitoring, business verification for comprehensive person-of-significant-control and ultimate-beneficial-owner verification, and fraud prevention tools with just one contract.

“Trulioo is the identity platform businesses turn to in order to solve the inherent complexity in onboarding customers globally. We enable businesses to offer their goods and services in nearly every country in the world and remain compliant. We provide our customers with industry-leading capabilities backed by best-in-class customer success so they can focus on their business and customers,” said Steve Munford, CEO of Trulioo.

Growth and innovation opportunities are presented by the recent boom in internet commerce, mobile payments, and digital currencies. However, it also creates difficulties for companies to combat fraud and adhere to globally varying standards like Know Your Customer, Know Your Business, and Anti-Money Laundering procedures. Companies can provide streamlined onboarding and produce intuitive customer experiences that foster inclusivity and trust by using a single platform and one contract.

Trulioo, in addition to delivering worldwide person and company verification services, gives:

  • Customers can conduct business anywhere in the globe by utilizing its broad experience, adaptable identity verification methods, and extensive global data sources.
  • The Trulioo Portal, which offers no-code and low-code integration techniques, single sign-on entry to all verification services, auditable reporting, and performance analytics are all provided by Trulioo.
  • Users of Workflow Studio, a no-code workflow builder, may quickly create, set up, and deploy logic-driven identity workflows.
  • Through one low-code API, API Direct, any Trulioo service can be linked to an existing system.
  • Connection to first-party, external sources of information, and third-party apps
  • Navigator is an online education portal that offers guided training and workshops for best practices to make solutions and industry expertise accessible.
  • Personalized assistance and continuous assistance from reliable professionals, including data source investigation and process improvement.

Michael Ramsbacker, Trulioo CPO said, “We built a platform that solves for the numerous identity verification challenges global enterprises face every day.”

He further added, “Trulioo is the only company that delivers an integrated, high-performance platform with comprehensive capabilities, out-of-the-box processes and models, easy no-code configurability, and the ability to customize and amend functionality. We are giving our customers the power to create verification workflows that best meet their needs with just one contract and in one intuitive platform.”

Mitigating Risks of Remote Access: Best Practices for Businesses

Businesses are rapidly shifting to remote work in today’s landscape. This major shift has increased the need for secured remote access as it allows employees to access company resources from anywhere, anytime. Remote access can increase flexibility, collaboration, and productivity, but it also exposes businesses to a variety of security risks. As a result, securing remote access has become a critical component of businesses’ cybersecurity strategy. Businesses need to employ effective strategies to protect sensitive data and maintain network security. Businesses will keep falling victim to cyber-attacks, data breaches, and other forms of cybercrime if proper security measures are not in place, which can be detrimental to the company’s reputation.

Identifying and Managing Risks of Remote Access

Remote access can expose a company to a variety of security risks. Unauthorized access is one of the most serious risks. It can be difficult to ensure that only authorized individuals have access to company resources when employees access them from remote locations. Furthermore, because sensitive information can be transmitted over insecure networks, remote access can increase the risk of data breaches.

Another risk associated with remote access is the possibility of malware and other malicious software infecting company systems. Remote access can make it easier for hackers to gain access to a company’s network because employees may be using unsecured personal devices.

To mitigate these risks, businesses must implement a comprehensive approach to remote access security. This includes identifying and managing remote access risks, implementing best practices for remote access security, and remaining vigilant in the face of ever-changing security threats.

Best Practices for Securing Remote Access to Your Business Network

Implementing strict access controls is one of the most important steps in securing remote access. This includes requiring employees to use strong passwords and two-factor authentication when accessing company resources. Businesses should also use firewalls and other security measures to keep unauthorized people out of their networks.

Securing Remote Desktop Connections for Your Business

A virtual private network (VPN) can be used to encrypt data transmissions, which is another best practice for securing remote access. VPN makes it difficult for hackers to intercept sensitive data by establishing a secure, encrypted connection between an employee’s device and the company network.

Businesses should look for a VPN that offers strong encryption, a variety of protocols, and a no-logging policy when selecting a VPN for secure remote access. Businesses should also make sure that the VPN is simple to use and supports a variety of devices.

Managing Remote Access Security for a Mobile Workforce

Businesses need a plan for managing remote access security for a mobile workforce because more and more employees are working remotely. This entails putting in place security measures like mobile device management (MDM) and mobile application management (MAM) to guarantee that business data is secured on employees’ mobile devices.

Implementing Two-Factor Authentication for Remote Workers

An efficient method for securing remote access is two-factor authentication (2FA). Users are required to provide two forms of identification, such as a password and a fingerprint scan or a password and a one-time code received on their phone for authentication. Unauthorized individuals will find it much harder to access company resources as a result.

Conducting a Remote Access Security Audit for Your Business

Carrying out a remote access security audit for your company to find any potential weaknesses is required. It also gives an overall idea of whether your security measures are working or not. This mostly involves looking over the security of remote access protocols, assessing the security of connections to remote desktops, and scanning for vulnerabilities. Once you get a proper audit report, you can redesign your security strategy and mitigate any loopholes available.

Moving Ahead

To safeguard sensitive information and keep their networks protected, businesses must secure remote access. Businesses can guarantee the security of their remote access systems by identifying and managing risks, putting best practices into practice, and performing routine security audits. Businesses should prioritize securing remote access in order to stay ahead of security threats given the growing trend of remote work.

Understanding and implementing two-factor authentication

In today’s digital age, online security is more important than ever. With an ever-increasing amount of personal and financial information being shared online, it’s critical to have strong security measures in place to protect against unauthorized access. Two-factor authentication is one of the most effective methods of protecting online accounts. Two-factor authentication (2FA), also known as two-step verification or dual-factor authentication, is a security process in which users provide two different authentication factors to verify themselves.

What is Two-Factor Authentication?

Two-factor authentication is a procedure for confirming a user’s identity in which a computer user is only permitted access after successfully presenting two or more pieces of evidence to an authentication mechanism. These proofs may consist of information the user possesses or knows.

It adds complexities for attackers to access user devices or online accounts, and two-factor authentication adds an extra layer of security to the authentication process. This is because, even if the victim’s password is compromised, a password alone will not be sufficient to pass the authentication check.

Types of Two-Factor Authentication

  • Knowledge-based authentication (KBA) – In this type of authentication, the user must prove their identity by providing information that only they should have, such as a password or personal identification number (PIN).
  • Token-based authentication entails using a physical device, such as a security token or a smart card, to generate a one-time password (OTP) for the user to enter in addition to their regular password.
  • Biometric authentication – This type of authentication confirms a user’s identity by using a physical characteristic of the user, such as their fingerprint or facial features.
  • SMS-based authentication – This type of authentication confirms the user’s identity by sending a text message to their mobile phone. The text message contains a one-time code that the user must enter in order to gain access to the service.

Implementing Two-Factor Authentication

The following are typical methods for implementing 2FA:

  • Select the 2FA type you want to use: It’s crucial to choose the type of authentication that will be used before implementing 2FA. When making this choice, take into account the user experience as well as the necessary level of security.
  • Configure the authentication method: Setting up the authentication mechanism is the next step after choosing the type of 2FA. This could entail setting up software on users’ devices, purchasing and configuring hardware tokens, or configuring SMS messaging.
  • Users must be informed of the new 2FA requirements and given instructions on how to set up and use the authentication mechanism in order to be updated. This might entail giving them hardware tokens or assisting them with the software installation on their devices.
  • System evaluation: It’s crucial to thoroughly test the system to make sure it functions as intended and that users can successfully authenticate before rolling out 2FA to all users.

One-Time Passwords (OTPs), Software Based Authentication, Backup Codes, Hardware-Based Authentication, and Characteristic Based Authentication are all methods of 2FA that you can use.

Best Practices for Two-Factor Authentication

• Set strong passwords that are particular to each account.

• To create and store passwords, use a password manager.

• Don’t use the same phone number for 2FA as you do for your main number.

• Use a physical token as opposed to SMS-based 2FA.

• Always keep the most recent security patches and updates installed on your devices.

Moving Ahead

While passwords are still widely used as the primary method of authentication, they no longer provide the security or user experience that businesses and their customers expect. And, while legacy security tools such as a password manager and MFA attempt to address username and password issues, they rely on an essentially obsolete architecture; the password database.

Two-factor authentication is a critical tool for safeguarding online accounts and sensitive information. By requiring users to provide two forms of identification, the risk of unauthorized access is greatly reduced. While implementing 2FA can be a pain for users, the added security is well worth the effort.

CloudIBN Offers Enhances Security for businesses through its Identity and Access Management Offerings (IAM) 

Cloud infrastructure consulting and deployment firm, CloudIBN announced the launch of Identity and access management (IAM) solutions. Businesses will be able to manage user access control effectively across the enterprise while also ensuring that their data is secure thanks to this IAM solution package. 

Mr. Ajay Mehta, CEO, and Founder of CloudIBN stated, “As number of identities increase in any business, managing these rapidly growing identities become critical. Ever growing cloud adoption, machine identities and number of partners (vendors, hybrid workers, outsourced / offshore teams, etc.) along with incremental breaches make it very important for enterprises to focus on IAM and CloudIBN helps manage all these identities in a safe and efficient manner.” 

Identity and access management systems have evolved into a crucial part of application, data, and service security as a result of enterprises’ growing reliance on digital processes. The comprehensive IAM solutions provided by CloudIBN address every facet of IAM, including user authentication and authorization, single sign-on (SSO) functionality, multi-factor authentication (MFA), role-based access control, audit trails, etc. Identity and access management solutions are tailored by CloudIBN experts in accordance with their understanding of the compliance standards applicable to the sector. In order to avoid interfering with already-running operations, CloudIBN strives to offer comprehensive yet straightforward solutions. 

To ensure that organizations can manage their digital assets safely and remotely, the CloudIBN team leverages its experience in handling large-scale implementations across industries including healthcare, banking, etc. 

The CloudIBNs IAM solution helps businesses, corporate IT, and security departments in enabling simplifying user sign-up and management processes. It also helps in enhancing IT efficiency by streamlining authentication processes. The risks related to security, data protection, and privacy compliance can be reduced using CloudIBN’s solution, along with simplifying the management and sharing of information across the organization. 

CloudIBN provides cloud infrastructure and managed services, Active Directory & Azure AD support services, Microsoft Enterprise Mobility & Security Services, Azure/AWS Security Services, Cloud Security Assessments & Compliances, Managed Firewalls & IPS, Endpoint & XDR Protection Platforms, Vulnerability Assessments & Penetration Testing, and SIEM Services in addition to IAM services. The certified experts on the CloudIBN team can assist in securing businesses and guaranteeing adherence to industry best practices and standards. In order to detect potential threats before they become dangerous, CloudIBN also offers routine maintenance and monitoring services.  

Persona launched a unified identity platform 

Persona has released the next version of its unified identity platform, which will assist businesses in mitigating online fraud and meeting ever-changing compliance standards. The new Persona platform unifies, centralizes, and orchestrates all disparate systems and identity operations under a single infrastructure. 

Rick Song, CEO of Persona commented, “With rising fraud rates and tightening regulation, organizations need to ensure the people and businesses they work with are who they say they are. But the way businesses manage and verify their customers’ identities today is purely transactional. This is because identity is ever-evolving and incredibly resource-intensive to manage. No use case is created equal. The rigor necessary for a company to verify one user might drastically differ from another due to a number of factors, including transaction risk, location, and associated regulations. And applying a one-size-fits-all approach leads to high failure rates and frustrated customers.” 

Leading companies, such as Square, Gusto, Revel, Toast, Coursera, and Dapper Labs, use Persona to adapt to evolving fraud techniques and regulatory compliance requirements, all while providing a frictionless experience for customers. 

Personas’ configurable building blocks enable organizations to tailor and streamline each stage of their unique identity processes. A robust and fully automated suite of international verification tools, such as database, documentary, biometric, digital ID, and behavioral signals, is included in the solutions. 

Based on real-time signals, the dynamic risk assessment engine can tailor how businesses collect and verify the information. A fully customizable investigation center that can be tailored and optimized for the internal review processes of each team. A versatile no-code identity process automation builder capable of ingesting data, automating complex decisions, and initiating actions. Link analysis and fraud investigation tool called Graph uncovers hidden fraud rings and spots fresh fraud patterns. 

Persona’s products can be used independently or in conjunction with one another, allowing businesses to create their ideal solution for any use case. Persona’s newest solutions, Graph, and Marketplace, demonstrate how Persona’s building blocks seamlessly collaborate to power all identity operations from end to end in one place. 

Read More : Features of identity and Access Management (IAM)!

OneSpan launched Virtual Room for identity and authentication security

OneSpan has launched its secure Virtual Room cloud service, enabling businesses to provide live, high-touch assistance to their customers in a high-assurance virtual environment. This customer engagement solution enables organizations to balance identity security, authentication, and e-signature solutions from the larger OneSpan portfolio with a high-assurance virtual experience.  

Matthew Moynahan, President, and CEO at OneSpan commented, “Today, businesses requiring a high degree of security and regulatory compliance rely daily on a variety of technologies that use insecure, shared links and expose users to elevated risks including data breaches and compliance violations in the anywhere economy. This should not be the case. Organizations and their customers want to be confident that the person joining a virtual meeting is the person they claim to be. And multi-million-dollar business agreements transacted digitally should not be subject to fraud fallout.” 

Virtual Room enhances digital-first transaction experiences by giving businesses the chance to design individualized, high-touch, human-assisted interactions, as well as by enhancing customer satisfaction, raising agreement completion rates, and lowering fraud and security risks. 

OneSpan’s history in high-assurance identity verification and authentication, along with agreement co-browsing, web-enabled videoconferencing, rich collaboration features, and built-in e-signatures, are just a few of the ways that Virtual Room enables businesses to interact and conduct business with customers in a secure manner. Account opening and maintenance, wealth management, and auto financing are just a few of the high-value customer agreements that can be handled by Virtual Room. 

The development of cloud technology has made it possible for organizations to embrace a new way of working that is more distributed, virtual, and dynamic. Virtual Room serves as a secure solution for customer-facing digital agreements where the integrity of the agreement is paramount. With the advent of the anywhere economy and an increase in online transactions, identity verification and authentication technologies are essential to the execution of digital agreements. 

Organizations can increase the integrity and completion rates of agreements and transactions in a highly secure and protected ecosystem by using this purpose-built, high-assurance digital agreement solution, which also includes identification and authentication capabilities, without sacrificing user experience or productivity. 

SecureAuth launched Arculix for passwordless authentication

SecureAuth has launched Arculix, an access management, and continuous authentication platform. Arculix is powered by SecureAuth’s risk-based behavioral modeling engine, it offers end users a passwordless and frictionless digital journey. 

The platform uses machine learning and artificial intelligence (AI/ML) to identify anomalous behavior and considers the level of assurance of an identity based on user, device, and browser trust. 

By ensuring the right digital identities have the right amount of access to the right resources and by removing the need to repeatedly ask users to re-authenticate, Arculix enables organizations to accelerate their Zero Trust initiatives. 

Mark Mahovlich, Vice President of Strategy and Execution, ICM Cyber, commented, “Arculix’s groundbreaking AI-driven behavioral modeling and device trust capabilities take identity and access management (IAM) to a new level of security and user experience with passwordless authentication. With Arculix we are helping our customers implement true passwordless and continuous authentication to mature their IAM programs and better secure their organizations.” 

If a customer chooses to use their current primary identity provider but needs to implement more sophisticated risk-based continuous authentication, it can be deployed as a standalone identity provider or can extend other IdPs, like Microsoft. 

Arculix creates a risk score at the beginning of the user’s journey when they log into a device. This score is then used to grant access to the user’s necessary resources, such as web apps, servers, and services, without having to deal with a different factor check. 

With adaptive workflows that step-up or step-down authentication based on overall risk, invisible multi-factor authentication (MFA) uses analytics to deliver a frictionless user experience. Risk is continuously re-evaluated in this method. 

Matt Ulery, Chief Product Officer, SecureAuth stated, “With Arculix, organizations can improve digital experience and productivity at a time when the identity has become the primary attack surface. Organizations can have simplicity without sacrificing flexibility, enable a Zero Trust approach, and leverage actionable threat intelligence and situational context to deliver the right user experience for the workforce and customers. Early adopters of Arculix within the financial and insurance industries have been able to improve user experience and reduce help desk costs while reducing identity attacks including fraud, account take over (ATO), and credential stuffing.” 

Read More : Features of identity and Access Management (IAM)!

Cloudentity launched the webhook feature

Cloudentity launched an event-driven webhook feature that will create real-time integrations and enable automation based on events during user authorization, token request/exchange, token minting, and policy enforcement as well as interactions with the recently launched Identity Pools functionality.  

Webhook can be leveraged to consume real-time event data-related systems to run by customers and their partners to respond in real-time to user activity, which can then be set to start low-level user management, access provisioning, and audit workflows. In order to improve user experience and notification capabilities, organizations will be able to develop richer, more context-aware data-driven architectures and solutions. 

Brook Lovatt, CEO of Cloudentity stated, “Both users and businesses expect integrated systems to function in harmony without delay – it’s becoming increasingly clear that time is the enemy. Even with tight polling intervals in the range of 5 or 10 seconds, third-party integrations that need to react to real-time security events experience far too much delay before they receive the required information in order to act. With webhooks, we are pushing this information out as it happens. It’s the only way forward for mission-critical functions such as online orders and payments that require integration between multiple disparate systems, and it’s already required by certain advanced integration standards, such as Australia’s Consumer Data Right (CDR).” 

Currently, the majority of businesses can only assess and respond to identity-related events after they have been processed by a centralized SIEM (Security Information Event Management) system. In order to support a seamless and cohesive user experience, those organizations must start asynchronous processes, which means they are unable to respond in real time to events that may indicate increased risk levels. With the introduction of webhooks by Cloudentity, the amount of time it takes for these events to reach consuming systems is significantly reduced, enabling businesses to assess user behavior and experience quickly and accurately – even at a very large scale. 

Benefits of Cloudentity webhooks include Real-time updates on end-user behavior, including Event-driven notifications that enable synchronization of numerous dissimilar systems during the execution of various use cases and give organizations access to actionable, current information from Cloudentity. 

Systems that consume IAM data from other sources may be loosely coupled and unaware of the server architecture, functionality, and configuration of the other party, instead consuming the data based on a predefined structure. Through the use of webhooks, Cloudentity offers customers the ability to asynchronously and event-driven establish a communication channel between their applications and Cloudentity in order to acknowledge and exchange information on particular events. 

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Transmit Security Announces Record Growth and Expanded CIAM Capabilities!

Transmit Security introduced significant updates to its customer identification and access management (CIAM) platform as well as significant milestones, record client and revenue growth for the first half of 2022, and other noteworthy information. Additionally, the business changed the names of its identity products to reflect the move to a developer-friendly strategy for providing secure identification services via APIs. 

Mickey Boodaei, co-founder and CEO of Transmit Security said, “From our founding, we have delivered identity orchestration, multifactor and passwordless authentication, and other capabilities for the most risk-aware companies. We understand that account security, threat intelligence, and identity verification — seamlessly integrated as an end-to-end solution — are essential to protecting customer accounts while delivering an excellent user experience. We’re proud to introduce those expanded capabilities as core parts of our cloud CIAM platform.” 

To make it simpler for businesses to get the identity services they require for the best balancing of security and customer experience, the company renamed and repackaged its integrated platform products — BindID, RiskID, FlexID, VerifyID, and UserID — as the Transmit Security CIAM Platform. The platform offers modular services, which are provided as user-friendly APIs for developers. Passwordless and Multifactor Authentication, Authorization and User Management, Digital Identity Fraud Protection, and Embedded Orchestration. 

Rakesh Loonkar, co-founder and President of Transmit Security said, “Since we launched the industry’s first omnichannel identity orchestration product in 2016, we have consistently enhanced our capabilities and grown our customer base to support more than $2 trillion in annual commerce. Our experience in securing and supporting mission-critical, customer-facing services for many of the most demanding enterprises guided us to delivering the next generation of CIAM software.” 

Jim Routh, former Fortune 500 CISO said, “Transmit Security is doing something no one else has: they’re providing best-in-class passwordless authentication, fraud detection, identity verification and orchestration in a cohesive developer-friendly platform. This combination gives product teams a very powerful arsenal to tackle fraud while giving their customers a seamless experience. Every CISO and fraud prevention executive should seek to give product teams these important capabilities.” 

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Neustar announces collaboration with Snowflake!

An announcement was made by Neustar Inc., a TransUnion business, about the launch of Neustar Unified Identity in collaboration with Snowflake. It will be available natively on Snowflake Marketplace and give users access to enhanced identity resolution across the Snowflake Media Data Cloud without transferring any data outside of the platform. Through the Neustar Unified Identity application, Neustar developed the solution utilizing the Snowflake Native Application Framework, which is presently in private preview, with the aim of giving joint customers the privacy-enhanced data hygiene, enrichment, and collaboration capabilities they need to prosper in a privacy-first marketing world.  

Bill Stratton, Global Head of Media, Entertainment, and Advertising Vertical at Snowflake said, “Neustar Unified Identity will allow our joint customers to accelerate and secure their data collaboration initiatives by leveraging the speed, scale, and performance of Snowflake’s platform. We believe this new application will empower customers to more quickly and seamlessly unlock data for business value. Neustar’s decade of experience in identity resolution and advanced machine learning ensures joint customers’ most pressing identity management and data governance needs are being addressed in our clean room.”  

By using identity resolution in the Snowflake Media Data Cloud with Snowflake’s clean room capabilities, Snowflake clients can use identity resolution in the Neustar Unified Identity application to safeguard and administer their consumer data assets. Additionally, they may create powerful privacy-enhanced data collaborations across the marketing landscape with brands and media partners and preserve accurate and enriched customer information with ongoing, real-time data upgrades. 

Ryan Engle, VP of Identity Products at Neustar, a TransUnion company said, “Brands and publishers need to enter into sustainable data partnerships to find new customer insights and connect the dots across marketing channels and devices. This partnership ensures that Snowflake clients can improve their consumer data quality while transforming their ability to collaborate with partners without sharing sensitive customer data. That’s a win-win in the privacy-first marketing and measurement future.” 

Read More : Features of identity and Access Management (IAM)!