Collabria Financial Services has announced a partnership with Vancouver-based identity verification provider Trulioo to enhance and automate the ID verification process for credit card issuance to Canadian credit unions. This integration is expected to streamline onboarding for new cardholders through Collabria’s digital channels.
Trulioo’s platform, launched after acquiring HelloFlow, is equipped to verify over 14,000 ID documents and 700 million business entities across 195 countries. It also checks against more than 6,000 global watchlists, ensuring robust Know Your Client (KYC) and Know Your Business (KYB) processes.
Jean-Marc Handfield, CEO of Collabria Financial, highlighted the benefits of the partnership: “This integration will enable a more streamlined, customer-centric process while strengthening our anti-fraud measures.”
Credit card processing for Collabria will continue to be handled by Co-op Solutions, with which Collabria renewed its full-service partnership last year.
Founded in 2015, Collabria Financial serves 98% of Canadian credit unions as a credit card issuer and operates as a subsidiary of Desjardins Group, the world’s fifth-largest cooperative financial group, managing assets of $414.1 billion.
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