Latest / The Payments Shed / Ep. 7 - Building Global Trust with Trulioo - Live from Money 20/20 USA 2025

Transcript

Ep. 7 - Building Global Trust with Trulioo - Live from Money 20/20 USA 2025 · The Payments Shed

• 0:04
  From everybody to the Payment Shed walk and talk.
• 0:07
  Today we're joined by Hal Lonas from Truly You How.
• 0:10
  Welcome to the Payment Shed. Please introduce yourself.
• 0:13
  Tell us a little bit about your role at the business and what
• 0:15
  Truly you do. Yeah, Thank you, Grant.
• 0:17
  Great to be here today. I'm CTO at Truly You and my role
• 0:21
  is I head up engineering and IT in the business and have the the
• 0:26
  fun of working with everything technical.
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  So that's my, that's my role. OK, brilliant.
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  And also US momentum has been really important for you guys
• 0:33
  lately. You've just announced the circa
• 0:35
  2000% surge in KYB. Can you just tell us a little
• 0:39
  bit what is driving that demand that we're seeing for unified
• 0:43
  verification at the moment? Yeah, it's been incredible to
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  see the growth. And there's a couple things.
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  There's always compliance and regulatory.
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  There's also, you know, just the need of verifying small
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  businesses and the trust and safety realm as well.
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  They know what's really driving it is that businesses really see
• 1:00
  a need to verify and they want to know who they're doing
• 1:02
  business with. And and so that that's really
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  driving the need and, and, and now you know, we're operating at
• 1:08
  high volumes, high accuracy rates and, and able just to do a
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  lot more than we ever did before.
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  And a couple of exciting announcements from you guys this
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  week. So the first one of them I
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  wanted to talk about really was around that next Gen.
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  ID and AI. You guys have launched a new
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  biometric and continuous KYB capability product.
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  Can you tell us a little bit about that?
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  Why is that an important move for you guys?
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  I guess from a product point of view it's.
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  It's really important and the the, the next Gen. biometric
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  capability is really important. Everyone talks about Gen.
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  AI and and the fraud threat and that's that's really there and
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  it's really prevalent in business as well.
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  And one thing we're able to do now is to keep a list of faces
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  and biometrics we've seen before, sort sort of a sort of a
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  bad guy roll call. And so, you know, if that comes
• 1:54
  up again for a business, you know, we could stop it in its
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  trap. So, you know, there's no reason
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  to let a bunch of bad actors get in there and try again and
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  again. We can just stop it right away.
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  And then the continuous capability is really
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  interesting. So you know, what we ask
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  everybody is, wouldn't you like to know if a business gets risky
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  somewhere in its journey? You know, businesses change all
• 2:13
  the time and so they can, they can change their, you know,
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  their financial standpoint, they can change whether they're
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  actually even in business or not, or you know, very
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  importantly what they're selling.
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  And so for us to have the capability to monitor a business
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  continuously and for our customers to be able to enroll a
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  business, they can watch the changes over time and be alerted
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  very proactively, proactively if there's any kind of a.
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  Change. OK, cool.
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  So when's the actual launch then?
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  It's it's, it's ready to go now. It's.
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  As we speak. Yeah, it's happening right now.
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  OK, brilliant. That's really exciting for you
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  guys. And as verification comes faster
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  and more automated, how do you maintain balance between smooth
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  on boarding and strong fraud prevention at the same time?
• 2:54
  Yeah. Well, so that's a great
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  question. And you know, we actually have a
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  suite of products. So you know, we can do biometric
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  authentication, we can look at your documents, we can do a data
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  only verification. And so really the answer to that
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  question is our customers get to choose their own journey and
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  actually they get to choose their journey dynamically.
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  So you know, it's not like A1 size fits all for our customers.
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  So if they have some onboarding they're doing that they consider
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  to be a little riskier, they can put a little more friction in
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  the process. If they have a cohort of people
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  that they're maybe reverify, reverifying and they are pretty
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  confident in the outcome, they can go a low friction route.
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  So they get to choose for themselves what makes sense and
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  we don't force them down 1 route or the other.
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  OK, very good. And obviously that biometric
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  piece is more prevalent than ever and you know we've got
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  agentic AI coming and some of the challenges that will come
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  with that around sort of the biometric step that we've made
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  in payments. I talk about this quite a lot.
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  You know we went down this route of OT PS and biometrics and then
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  you know something like agentic obviously comes in into the the
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  fold. I mean do you have any sort of
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  takes on agentic and where that might take us as well?
• 3:56
  Well. I'm actually really excited
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  about Genentic. I think that really opens things
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  up. You know, I think for for years,
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  you know what people think about AI and they think about like
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  physical robots, right, that will do things for you.
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  And we think about who's going to do the laundry or do the
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  dishes at home or or even drive my car.
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  But what is turning out to be is that, you know, the robot's
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  actually going to be in the cloud and the robot's going to
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  do things we want to have done, but it can happen automatically
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  and kind of behind the scenes. So super excited about Agentic.
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  I think there might be a little bit of hype around it now, but
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  it's going to come and be upon us very quickly and I think it's
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  really going to change our lives.
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  Yeah, it's definitely the most talked about thing.
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  So we're obviously at Money 2020 in the USA.
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  Why is this such an important event for truly you to come to
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  every year? Well, for one thing, we get to
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  meet our customers and prospective customers.
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  It's also really great for me as a technology expert to see what
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  other people are talking about and to really get my finger on
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  the pulse of advancements in the industry.
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  You know, what is the latest high tech thing?
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  What is the the biggest breakthrough?
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  And so I really look around and try to discern what those things
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  are and what people are talking about in their messaging.
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  So it's it's very interesting for me.
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  And it's like one of those weird industries payments.
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  I think with that, you know, the thing I love about Money 2020 is
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  the collaboration that's actually happening.
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  There's a lot of competition, but actually the competition
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  does collaborate. It does talk about challenges
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  they're facing, how they're dealing with those challenges.
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  I think that's quite rare in in some sectors where people are
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  less open. It's quite rare.
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  I think it's good to have the collaboration.
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  We also get a ton of collaboration and great input
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  from our customers. So our customers are, you know,
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  by far the single most important source of innovation for us
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  because they tell us the problems they're dealing with
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  now and then what they anticipate coming, you know, 6
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  or 12 or 18 months down the line.
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  So it really is great input for us in the engineering and
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  product process for us to figure out what to do next.
• 5:44
  Brilliant. Well, Hal, thanks for joining us
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  on the walk and talk. Before you go, we have got quite
• 5:49
  a renowned section as it's becoming now at the end of each
• 5:52
  interview that we run the shelf of shame where someone brings
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  one thing they want to nominate in fintech payments business in
• 5:58
  general. Can you tell us the item you're
• 6:00
  going to nominate today? Yeah, you know, my item to
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  nominate would actually be overhyped AI.
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  OK. So as much as I believe in
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  agentic as a future and what's going to happen with AI and
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  improving our lives, I also think we, you know, are in
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  danger of, of over hyping it and sort of over promising and under
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  delivering it. And so I, I worry about that
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  sort of through of despair we might get in, you know, where
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  people just get fatigued from hearing the terminology too much
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  and they don't get what's, you know, what the, what possibly
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  will be delivered in the. Future, I think it's a great one
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  to call out. And yeah, there's definitely
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  that hype train that exists at the moment and everyone just
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  says AI, but you've got to lift the hood up and go, well, what
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  are you specifically doing with AI?
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  You really do. You really do.
• 6:42
  That's fantastic. Well, I'm going to put that on
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  the shelf for sure. Thanks for bringing that
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  nomination and thanks for having a chat with us on the payment
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  share today. Thank you, Grant.
• 6:48
  Really appreciate the opportunity.