Case Study: IBFX achieves 95% China verification and streamlines account opening with Trulioo GlobalGateway

How IBFX streamlined their account opening process for China

IBFX, a global foreign-exchange firm focused on efficient liquidity and AML compliance, faced significant delays onboarding clients in China because customers were reluctant to send sensitive ID documents online, struggled with language barriers, and were hard to contact across time zones. To address this, IBFX became a customer of Trulioo in July 2011 and implemented the Trulioo GLOBALGATEWAY identity verification service.

Trulioo’s GLOBALGATEWAY lets IBFX verify Chinese customers using the personal information entered in their account application and returns a customer photo as part of electronic verification, eliminating much of the document back-and-forth. As a result, Trulioo verifies IBFX’s China customers 95% of the time, streamlining account opening and significantly reducing approval delays compared with other electronic ID services.

IBFX

Amanda Albretsen

AML Compliance Officer Director of New Accounts