Trunomi’s B2Me technology transforms the know your customer market, ushers in a new era of secure online identity management and sharing

MOUNTAIN VIEW, CA (October 29, 2014) — Trunomi, the pioneer of B2Me for the financial industry, and a provider of Know Your Customer (KYC)-compliant technology for regulated entities (RE) and consumers, today announced the launch of the company and the availability of its TruHub and TruMobile solutions. The company is among the innovative market leaders invited to demonstrate their solutions at Money20/20 in Las Vegas, Nov. 2-5, where Trunomi will debut both products, as well as at BAI Retail Delivery in Chicago, Nov 12-14.

“The TruHub interface is a powerful and intuitive solution that is both easy to learn and use. The operational efficiency gains it offers customer on-boarding teams is undeniable,” according to Tim Calveley, deputy CEO of Mitsubishi UFJ Fund Services. “Further, TruMobile’s ability to connect, engage with and securely enable customers to easily share their KYC document sets is a game-changer for our industry.” The financial institution has worked with Trunomi as a co-development partner for over a year.

Trunomi’s platform helps REs such as banks on-board customers five times faster at 20 percent of the cost of today’s manual, inefficient process. The enterprise-level TruHub simplifies KYC capture and review, allowing organizations to quickly conduct due diligence and create shareable “Golden Source” digitized KYC datasets for each customer, with a full audit trail. Through regulatory compliant workflows and data extraction directly from source documents, TruHub ensures audit level data capture and classification. This allows for real-time surveillance and KYC auditing, significantly reducing both regulatory risk and the time and cost associated with staff training.

Trunomi’s TruMobile tool for consumers, the first of its kind, sets the company apart from other KYC solution providers and is backed by multiple patent filings. TruMobile allows consumers to directly manage permissioning, provisioning and updating of their KYC datasets and personally identifiable information (Pii) from their mobile device. Updating data, as well as providing consent for an RE to share the data, occurs in real-time. Consumers can upload documentation directly from their mobile device or capture images via the smartphone camera, and security is ensured through leveraging industry leading authentication and biometric capabilities.

“In today’s tech-savvy world, banks largely still rely on an outdated, manual, paper-based process for customer on-boarding. While other companies have set out to streamline the process and create simpler ways to collect and share KYC data, they’ve overlooked the most important piece – the consumer,” said Stuart Lacey, Trunomi’s founder and CEO. “Trunomi’s B2Me platform was created to empower the consumer to manage their own Pii which in turn, not only helps REs; but helps any industry that requires real-time Pii data and accurate counterparty identification, to help reduce fraud, protect privacy and improve service.”

Trunomi raised an angel round of financing earlier in 2014 from an investor group including a private equity fund; audit, tax and advisory services firm KPMG Bermuda Holdings, as well as other investors. This first round of investing was oversubscribed within 13 days and leaves Trunomi poised to expand its services to cover additional regulated industry verticals.

About Trunomi
Trunomi is a Silicon Valley based company that provides Know Your Customer (KYC) compliance technologies for regulated entities (RE) through a platform that accelerates, simplifies and secures the customer on-boarding process. The company offers B2Me solutions that enable REs and their customers to easily create auditable “Golden Source” digitized sets of customer identification data and then simply and securely share them anytime, anywhere; in full compliance with global privacy and regulatory requirements.

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