Truora will build up its know your customer (KYC) products using WhatsApp through a partnership with Mastercard. The company will join Carbon Neutral Club, Guava, oneKIN, Inc, Palla Financial, Suma Wealth and Yunit in the program.
“In approximately seven years of operation, the Start Path program has created more than 10,000 connections between startups and enterprises, having an unmeasurable impact globally. We were selected among many notable startups, and feel honored to join Mastercard in this journey to unlock opportunities to scale our user acquisition platform and KYC products through WhatsApp,” said Daniel Bilbao, Co-Founder and CEO, Truora Inc, to MBN.
Start Path has already achieved major success with the creation of over 10,000 startup connections around the world, while also being capable of engaging more than 300 startups worldwide. Truora will seek to help companies in the financial sector to grow their users via Star Path’s program, while helping them understand that companies must improve their conversion rates while being compliant with KYC and anti-money laundering (AML) regulations.
“In Truora, we feel completely aligned to the ideals of the initiative, believing in the value that building a network entitles, especially in the startup ecosystem where collaboration is paramount. That is why being part of Mastercard´s startup engagement program (Start Path) is so important for us, we are convinced that accessing their global network can help us become a strategic ally to companies interested in innovation and digital transformation processes, especially those in the financial sector,” said Bilbao.
Truora has already developed an easy-to-integrate platform that includes configurable products with a “no code” flow builder. The startup will permit background checks, digital authentication with face recognition, ID validation and electronic signature, among other tools. These products aim to optimize client’s user interactions, mainly throughout the sales cycle of financial products.
The Start Path program is a “great opportunity” for companies like Truora, said Bilbao, because it promotes exposure to vital technologies that aid in their growth objectives. These interactions will positively impact the ecosystem.
“As a company, we believe in Latin America´s great regional potential. This is why we will work to bring top-tier user experiences to our client’s processes: onboarding, acquisition, user recovery, and an increase in the rate of active users, among others designed to simplify their user interactions on digital channels,” said Bilbao.