Canadian ID verification startup Trulioo has launched a $100,000 Canadian dollar (US$78,000) "Fuse" fund to encourage developers to work on solutions that encourage financial inclusion through digital identities."We want to drive full financial inclusion by verifying the identities of the most challenging demographics," said Stephen Ufford, CEO and founder of Trulioo.The firm says it wants to provide greater electronic identity verification coverage across the world by leveraging the data shaped by data from mobile apps, ad networks and social logins. The fund will award $5,000 to up to 20 app developers to build an API that provides access to user data that will be used for identity verification purpose.The company adds that Trulioo's Fuse Fund aims to strengthen confidence in cyber identity data as an alternative source for identity verification, which will ultimately be used to verify the identities of the world's 2.5 billion unbanked. "Our mission is to ensure that the world's population has access to all of the same services as in developed countries," Ufford said. "Services like banking, e-commerce, peer-to-peer marketplaces, and financial services. The first step is to be able to verify someone's existence and then authenticating that they are the person transacting online."
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