You'll likely never find a child declaring that they want to be in the identity-verification business when they grow up. But this is becoming a lucrative industry in a world when so many payments are being done online.
And a Vancouver company, Trulioo, is winning plaudits from some very big players for how it's going about this work.
This week, the World Economic Forum included Trulioo in its 20th cohort of 100 new Technology Pioneers.
The only other B.C. companies on the list are Squamish-based Carbon Engineering, which uses fans to suck carbon dioxide from the atmosphere, and Kelowna-based Two Hat Security, which created an AI-powered content moderation platform.
That's not all for Trulioo, though. It also ranked 27th on the CNBC Disruptor 50 list.
Founded by Stephen Ufford and Tanis Jorge in 2011, the company came 37th on this same list in 2017.
"Trulioo is a global identity and business verification company that provides secure access to reliable, independent data sources worldwide to instantly verify consumers and businesses online," CNBC stated on its website.
Ufford resigned as CEO this spring and is now the chairman. He was replaced by Steve Munford.
“It’s truly an honor to be named one of 50 in CNBC’s Disruptor List,” Munford said in a news release. “We’ve worked tirelessly to serve five billion people and 330 million businesses globally. This ranking validates the hard work of our entire team. It underscores the growing importance of identity verification in response to global challenges requiring companies to meet the highest standards in compliance and security.”
Ranking first on this year's CNBC Disruptor 50 list is Stripe. It's a San Francisco–based global e-payments company founded by brothers John and Patrick Collison.
"Today thousands of companies, including Amazon, Slack, Glossier, Shopify and Under Armour, use Stripe’s software tools to securely accept payments from anywhere in the world," CNBC declared. "The company makes money by charging these customers a swipe fee of 2.9%, plus 30 cents for every transaction it processes (the same as PayPal)."
Coincidentally, Trulioo proudly states on its home page that it "brings Stripe-like code simplicity to developers looking for global identity verification services".
Clicking the link on Trulioo's site brings readers to a Forbes.com article by tech writer Tom Groenfeldt that repeats this claim.