Compliance and Verification – Michael Ramsbacker, Trulioo

This is texturing TV. Hey everyone, welcome to another text drunk TV interview. I'm joined on this interview today by a First Time guest his name is Michael ramsbacker and Michael works with a company called truly you.

and I I'll confess to everyone watching this. I've been mispronouncing this name evidently for a long time because of the double O at the end. I thought was truly oh trilio, but it's truly you and so if I can make that mistake you may have make that mistake as well and I'm here to help truly you Michael with that out of the way.

Why don't you introduce yourself? Well, now that we now that we know what company I work for truly you easy mistake to make Allen. Yeah, Michael Rams backer.

I'm the chief product officer at truly you we are a we are B2B company. So many people haven't heard of us. We provide we are digital identity platform.

That provides digital identity verification services to large Multinational Enterprises that need to operate in international markets. So what we do is we help them verify both businesses and individuals in up to 70 countries on a daily basis. So it's a it's a really important capability that we provide for businesses operating in the digital economy.

actually actually and you know what Michael A little maybe a little bit of your background before, you know becoming good Chief product it truly you sure. So I've been developing B2B Enterprise applications for for over 20 years across a number of different sectors like many products people. I started my career in engineering but then transitioned into product management and most recently prior to coming to truly you as the chief product officer.

I worked at a another identity company a NASDAQ listed company my tech systems where I let product their building document verification and biometric systems. Excellent. All right.

Now that we've got that out of the way, let's jump into kind of what was the subject matter for today's conversation and and that is you know, this whole area of digital identity biometrics. You know, I we've seen enough Magic Bullets in technology and Technology, especially cyber security. We tend to always be looking for simple.

Solutions to rather complex problems. Yeah, and and so when we you know when we're Presented with something. That sounds You know too good to be true it often is yeah.

Why why is this time different? Why what can we do with digital identity and Biometrics that is going to make make us all a little safer because yeah try to solve product problems. We've been trying to solve here.

Yeah. I know. It's a great question.

Um digital identity is certainly a complex problem, but it is also a extremely Important part of the global digital economy. No doubt as more businesses digital understanding who is at the other end of that connection, whether it be a business as a person is is foundational to creating the trust in that hyper-connectivity. Um, so it is a complex problem.

companies like truly you um are providing Layers of services to meet that challenge there is no Silver Bullet to digital identity. Just like you said there is no Silver Bullet to cyber security right? It's about layers of systems.

And so our what we do here are true. Use we Provide the platform to make those layers of services simple to access. And you're also right that Biometrics is an important part of.

these identity Solutions there's nothing more Central to our identity than ourselves right are our physical characteristics, whether that be our fingerprint or our face or our voice our identity starts with us, right and As we move forward as it is a digital economy expands that we move forward with these systems Biometrics will play an important role in keeping our identities secure and providing access to the digital economy for everybody. here no argument here, but let's talk a little bit about how truly you. And not just truly let's talk about the state of art the state of the market.

Yeah state of the technology here. What do you I mean look we live in interesting times right that old Irish proverb. May you live in interesting times?

We live in interesting time things are changing. Quickly, right and it presents opportunities is for good and bad. Right.

So let's you know, how how can we what technologies Michael what Solutions maybe truly you is working on. You see that, you know our Enterprise customers out here. What what can they kind of start looking at preparing for you know, what is tell us the calvary's on the way?

Yeah. No it is it is for sure. We sir is certainly is interact interesting times covid accelerated the the expansion of the digital economy and that provided new opportunities for people to onboard and take part but it also created new fraud attack vectors and you know state of the art for a digital economy or a digital identity system focuses on minimizing friction for good actors and maximizing the ability to identify the Bad actors and keep them out of the system.

um, and so what we're focused on it at truly you is providing on the the very well integrated set of features that allow our Enterprises to tackle both of those problems at the same time. And so state of the art is having the ability to verify an identity very easily and very quickly through a data source check. So being able to take you know, your first name and last name and part of your address and corroborate that information with a data source at any part of the in any country based on your location.

That's a quick easy low friction check. now potentially your use case requires higher assurance and you want to do a document verification check. So a government-issued identity document.

Um, and so that's an important capability too and you may even want to go a step further and do a biometric verification. So that's comparing a selfie to an identity document. And then perhaps allowing that user to enroll their selfie to keep their account secure through Biometrics.

So there's you know state of the art platforms like truly you don't just focus on one technology. We focus on a suite of Technologies. And integrate them in a way that allows our customers to adapt their workflows if circumstances change and also create different flows for different compliance reasons and different geographies.

Identity Solutions are not Standard for every country and every sector if you're a regulated industry you have different. A factors that you need to adhere to versus a Marketplace that is using identity for trust and safety. I absolutely and you know, look it sounds it sounds great.

Right? Let's talk about Michael. You know what you guys are seeing in terms of adoption and and you know I've been in the game long enough.

There are people who do a lot of companies that'll buy a solution. And then there's a long road from buying that solution to rolling out that solution to truly getting the use the intended use of the solution. Where do you think we are?

Yeah, that's that another great question. A lot of Enterprises come to Identity with really unknown expectations, right? They're not sure what they need to do.

Let alone how to do it. Now that's changing a little bit as companies become more familiar with the technology, but it truly you, you know, we we really focus on being The Trusted experts we want to educate our customers on What they need to do and then provide them the tools on how to do it and what we're seeing is really really significant growth in the regulated sector. So think about fintech or crypto or or banks.

These are really the areas. That are heavily relying on identity verification solutions to not only eliminate fraud but also meet their compliance requirements on growth in Market places for trust and safety and waste and abuse but really significant growth in regulated sectors. A great a great you know what?

I we're you know coming low on time. I want to make sure we give people. Where they can go like what's the path here to find out more to dig in?

com is where is a good starting point? com. I'm glad I made you spell that not me.

Yeah. Thank you, Michael. And then what would you suggest?

What would you suggest? I just started I mean going to the website but where how do we how do we dig in? Where do we start?

com. com or someone else really focus on a company that has the geographic coverage that you need on that supports the sectors that you're in understand your business and really is provides a comprehensive Suite of integrated Services because in in all likelihood, you will need more than one particular product or solution because they're like you said there is no Silver Bullet and for look for an identity company. That's that that is that trusted advisor that can help you in the long term.

Absolutely. Hey Michael. I want to thank you for popping on techstroke TV today and getting us a little bit smarter about digital identity Biometrics Etc.

And maybe you could come back on keep us posted on developments here. Yeah, anytime great to be here Alan great to meet you and yep. Happy to join you anytime.

Thank you, Michael Rams backer from truly you here on Tech strung TV. We'll take a break. We'll be right back.