Jumio lives up to the expectations of businesses with a unique methodology that has been specifically developed to meet the challenges of verifying identity in a connected-device environment. “The ‘Achilles heel’ of remote account opening is the customer identification process,” reveals Stuut. Jumio provides ID scanning and validation products for financial institutions and other businesses. The company utilizes computer vision technology and document experts to authenticate customer credentials in real-time mobile and web transactions. Jumio enables the customer verification step to be performed in-transaction and in a way that consumers find more convenient than other options. Eliminating sign-up and checkout friction translates to a higher number of successful transactions and reduced customer abandonment rate.
Jumio’s flagship product, Netverify, is designed to authenticate customers’ actual driver licenses and passports while they’re performing transactions on their mobile device or desktop computer.
We enable the customer verification step to be performed in-transaction and in a way that consumers find convenient and fast
Jumio’s products are leveraged by a wide range of clients from the leading internet companies to Fortune 500, FTSE 350 organizations, and startups. In an implementation highlight, WorldRemit—an online money transfer service firm—needed to be compliant with Know Your Customer (KYC) and AntiMoney Laundering (AML) requirements. The firm approached Jumio for meeting the compliance needs and integrated Netverify into their website. As a result, WorldRemit was able to authenticate the customer’s ID document against a range of security features.
To stay ahead in a competitive environment, Jumio puts strong effort toward constantly improving the products they provide to banks as the best way to accelerate decision making. “We have amazing computer vision talent who are constantly pushing the boundaries of how device cameras can be harnessed to support new types of transactions,” remarks Stuut. Furthermore, the company takes a long term view and invests heavily in developing new features and products that will address the customers’ exact needs.