Jumio’s unique computer vision solutions help financial services firms verify customer identity while improving remote account opening completion rates

At Jumio we believe that cus­tomer ver­i­fi­ca­tion processes should do more than just meet the letter of the law. In fact, the method by which you verify the iden­tity of your cus­tomer can and should be an impor­tant dif­fer­en­tiator between you and your com­peti­tors. We’re working with many finan­cial ser­vices providers to ensure that your cus­tomers have a fast and pos­i­tive expe­ri­ence when opening an account on their mobile device while enabling the provider to meet Know Your Cus­tomer (KYC) and Cus­tomer Iden­ti­fi­ca­tion Pro­gram requirements.

Many finan­cial ser­vices providers still rely on out­dated cus­tomer ver­i­fi­ca­tion methods by asking cus­tomers to email, fax or phys­i­cally drop off copies of ID doc­u­ments at a branch office, when they wish to orig­i­nate an account rela­tion­ship or exe­cute cer­tain trans­ac­tions. This is not only incon­ve­nient for your cus­tomer; it also breaks the trans­ac­tion momentum which results in sig­nif­i­cant drop-off and cus­tomer dissatisfaction.

Jumio’s approach is dif­ferent – it has been specif­i­cally devel­oped to meet the chal­lenge of how to verify iden­tity in a connected-device envi­ron­ment. We use com­puter vision tech­nology to val­i­date, extract and auto-populate cus­tomer data from ID doc­u­ments to deliver fast and easy account orig­i­na­tion or other trans­ac­tions. It’s a real-time process; doc­u­ment authen­ti­ca­tion takes place seam­lessly in the back­ground so that cus­tomers are not incon­ve­nienced and the momentum of the remote trans­ac­tion is maintained.

Here’s how we’re applying this tech­nology to banks, money remit­tance busi­nesses, pre­paid card issuers, short term lenders and other finan­cial services:

Reduce drop-offs in Remote Account Opening (RAO): Finan­cial ser­vices firms wishing to improve account orig­i­na­tion through dig­ital chan­nels are turning to Jumio to decrease drop-off rates by up to 40%. Making it fast and easy for cus­tomer to pro­vide their ID doc­u­ments is the key to increasing trans­ac­tion com­ple­tion rates. Learn more…
Pre­vent orig­i­na­tions fraud: Crim­i­nals are increas­ingly turning to orig­i­na­tions fraud and account takeover to mon­e­tize stolen iden­ti­ties and Jumio is rapidly becoming the doc­u­ment authen­ti­ca­tion provider of choice to keep crim­i­nals out of the finan­cial system. Learn more…
Authen­ti­cate ID cre­den­tials issued by over 120 coun­tries: Jumio has become the provider of choice for cus­tomer cre­den­tials ver­i­fi­ca­tion in online and mobile envi­ron­ments. We val­i­date, extract and auto-populate data from driver licenses, pass­ports and government-issued IDs. This is par­tic­u­larly valu­able with cus­tomer seg­ments or geo­gra­phies where ID data­base and KBA checks are expen­sive, unre­li­able or simply unavailable.

Learn more about Jumio solutions:

The com­bi­na­tion of Jumio’s ID doc­u­ment authen­ti­ca­tion and facial com­par­ison sup­ports speedy account opening for our cus­tomers, and make for a better and faster cus­tomer expe­ri­ence with WorldRemit.”

worldRemit

With Netverify we can iden­tify and authen­ti­cate cus­tomers in near real time, with a degree of con­fi­dence that was pre­vi­ously unat­tain­able with online transactions.”

paywardKraken

Here’s how Jumio supports leading money transfer company WorldRemit

Jumio supports leading money transfer company WorldRemit

Ready to Move Forward?

Are you ready to integrate the leading scanning technology into your mobile app? Simply click the button below and a Jumio representative will be in touch with you to answer your questions and get you set up quickly.