This web app uses cookies to compile statistic information of our users visits. By continuing to browse the site you are agreeing to our use of cookies. If you wish you may change your preference or read about cookies

close

Why Trulioo's Business Model is so successful?

Get all the answers


Trulioo’s Company Overview


Trulioo is a leading global identity verification company that provides advanced analytics based on traditional information such as public records, credit files and government data as well as alternative sources including utilities, mobile phones, and social login providers. Founded in 2011 and headquartered in Vancouver, Canada, Trulioo specializes in scoring online identities as genuine, fraudulent, or synthetic, empowering businesses to perform first-level due diligence and comply with a diverse range of international regulations. With its innovative technology, Trulioo is committed to fostering a safer cyber world by promoting trust and privacy, and ensuring each individual has access to digital services. Trulioo's business model revolves around its GlobalGateway solution, a marketplace of identity data and services that enables organizations to scale and adapt their operations to meet compliance requirements across multiple jurisdictions. The company partners with various data and service providers around the globe, integrating their offerings into the GlobalGateway. Businesses can then access this marketplace to verify identities, assess risk, and ensure compliance. This model allows Trulioo to provide a comprehensive, adaptable solution while leveraging the expertise and reach of its partners. The revenue model of Trulioo is primarily based on a Software as a Service (SaaS) model, where clients subscribe to access their services. The subscription cost can vary depending on the type and amount of data required, the country of origin, and the volume of usage. This model allows for scalability and flexibility, with clients having the freedom to choose the level of service they need. Additionally, Trulioo also earns revenue through its partnership program, where data and service providers pay a fee to be included in the GlobalGateway marketplace. This dual revenue stream ensures a steady income while also incentivizing continuous growth and expansion.

https://www.trulioo.com/

Country: British Columbia

Foundations date: 2011

Type: Private

Sector: Technology

Categories: Data and Analytics


Trulioo’s Customer Needs


Social impact:

Life changing: affiliation/belonging

Emotional: provides access

Functional: simplifies, reduces risk, integrates, connects, reduces effort, informs


Trulioo’s Related Competitors



Trulioo’s Business Operations


Combining data within and across industries:

How can data from other sources be integrated to generate additional value? The science of big data, combined with emerging IT standards that enable improved data integration, enables new information coordination across businesses or sectors. As a result, intelligent executives across industries will see big data for what it is: a revolution in management. However, as with any other significant organizational transformation, the difficulties associated with becoming a big data-enabled company may be tremendous and require hands-on?or, in some instances, hands-off?leadership.

Customer data:

It primarily offers free services to users, stores their personal information, and acts as a platform for users to interact with one another. Additional value is generated by gathering and processing consumer data in advantageous ways for internal use or transfer to interested third parties. Revenue is produced by either directly selling the data to outsiders or by leveraging it for internal reasons, such as increasing the efficacy of advertising. Thus, innovative, sustainable Big Data business models are as prevalent and desired as they are elusive (i.e., data is the new oil).

Data as a Service (DaaS):

Data as a Service (DaaS) is a relative of Software as a Service in computing (SaaS). As with other members of the as a service (aaS) family, DaaS is based on the idea that the product (in this instance, data) may be delivered to the user on-demand independent of the provider's geographic or organizational isolation from the customer. Additionally, with the advent[when?] of service-oriented architecture (SOA), the platform on which the data sits has become unimportant. This progression paved the way for the relatively recent new idea of DaaS to arise.

Digital transformation:

Digitalization is the systematic and accelerated transformation of company operations, processes, skills, and models to fully exploit the changes and possibilities brought about by digital technology and its effect on society. Digital transformation is a journey with many interconnected intermediate objectives, with the ultimate aim of continuous enhancement of processes, divisions, and the business ecosystem in a hyperconnected age. Therefore, establishing the appropriate bridges for the trip is critical to success.

Infrastructure as a Service (IaaS):

Infrastructure as a Service (IaaS) is a subset of cloud computing that offers on-demand access to shared computing resources and data to PCs and other devices. It is a paradigm for ubiquitous, on-demand access to a pool of customizable computing resources (e.g., computer networks, servers, storage, applications, and services) that can be quickly provided and released with little administrative effort.

Product innovation:

Product innovation is the process of developing and introducing a new or better version of an existing product or service. This is a broader definition of innovation than the generally recognized definition, which includes creating new goods that are considered innovative in this context. For example, Apple launched a succession of successful new products and services in 2001?the iPod, the iTunes online music service, and the iPhone?which catapulted the firm to the top of its industry.

Software as a Service (SaaS):

Software as a Service (SaaS) is a paradigm for licensing and delivering subscription-based and centrally hosted software. Occasionally, the term on-demand software is used. SaaS is usually accessible through a web browser via a thin client. SaaS has established itself as the de facto delivery mechanism for a large number of commercial apps. SaaS has been integrated into virtually every major enterprise Software company's strategy.

Subscription:

Subscription business models are built on the concept of providing a product or service in exchange for recurring subscription income on a monthly or annual basis. As a result, they place a higher premium on client retention than on customer acquisition. Subscription business models, in essence, concentrate on revenue generation in such a manner that a single client makes repeated payments for extended access to a product or service. Cable television, internet providers, software suppliers, websites (e.g., blogs), business solutions providers, and financial services companies utilize this approach, as do conventional newspapers, periodicals, and academic publications.

Technology trends:

New technologies that are now being created or produced in the next five to ten years will significantly change the economic and social landscape. These include but are not limited to information technology, wireless data transmission, human-machine connection, on-demand printing, biotechnology, and sophisticated robotics.

Embed code:

x
Copy the code below and embed it in yours to show this business model canvas in your website.