Goldmoney Partners with Jumio to Radically Streamline Customer Onboarding with Biometric-Based Verification
Simplified application process takes less than 3 minutes and eliminates paperwork
TORONTO – (March 2, 2018) – Goldmoney Inc. (TSX:XAU) (“Goldmoney”), a precious metal financial service and technology company, today announced that it has launched a new onboarding method with Jumio, the leading digital identity verification provider, after a successful beta release. This new online verification process is entirely paperless and significantly reduces online friction historically associated with customer account setup.
Powered by Jumio’s real-time ID verification technology, Goldmoney now offers clients a paperless process for Holding verification. Clients can simply take a photo of their government-issued ID and a selfie to verify their identity. New Goldmoney clients can apply for a Goldmoney Holding account and complete the full verification process in less than 3 minutes, while current Holding owners can submit a photo of their government-issued ID and a selfie and unlock access to fully verified Holding features.
Jumio’s biometric-based identity verification technology has proven to be secure and diligent, and is in full compliance with Anti-Money Laundering (AML) legislation and Know Your Customer (KYC) requirements.
“As we continue to expand the functionality of the Goldmoney Holding offering, one of our biggest challenges is establishing an appropriate balance between client security, regulatory compliance, and an improved onboarding and verification experience,” said Goldmoney COO Paul Mennega. “Through our partnership with Jumio and the integration of their best-of-breed verification solution, we have achieved an important milestone in our mission to increase global access to precious metals by significantly reducing onboarding friction while further improving our industry-leading security and regulatory standards. It’s a true win-win.”
“According to recent Juniper research, the global cost of data breaches will rise to $2.1 trillion by 2019, so it’s increasingly imperative for online companies, especially financial institutions, to know, really know, who their customers are online,” said Jumio’s CEO Steve Stuut. “Because Goldmoney enables its clients to invest, earn, or spend gold, silver, platinum, and palladium, they must ensure that their online customers are reliably, accurately, and compliantly verified. It’s this delicate balance between fraud detection and the user experience that made us the right choice — not only for Goldmoney, but for a growing roster of digital banks, foreign exchanges, and cryptocurrency exchanges.”
About Goldmoney Inc.
Goldmoney Inc., a financial service company traded on the Toronto Stock Exchange (TSX:XAU), is a global leader in precious metal investment services and the world’s largest precious metals payment network. Safeguarding nearly $2 billion in assets for clients located in more than 150 countries, Goldmoney is focused on a singular mission to make precious metals-backed savings accessible to all. Powered by Goldmoney’s patented technology, the Goldmoney® Holding is an online account that enables clients to invest, earn, or spend gold, silver, platinum, palladium and cryptocurrencies that are securely stored in insured vaults in seven countries. All bullion assets are fully allocated and physically redeemable property. Goldmoney Wealth Limited is regulated by the Jersey Financial Services Commission (JFSC) as a Money Services Business. Goldmoney Network is a reporting entity to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), and is registered with the Financial Crimes Enforcement Network (FinCEN) in the U.S. For more information about Goldmoney, visit goldmoney.com.
When identity matters, trust Jumio. Jumio is the creator of Netverify® which enables businesses to increase customer conversions while providing a seamless customer experience and reducing fraud. By combining the three core pillars of ID Verification, Identity Verification and Document Verification, businesses now have a complete solution that allows them to establish the real-world identity of the consumer. Leveraging advanced technology like biometric facial recognition, machine learning, artificial intelligence and human review, Jumio helps customers to meet regulatory compliance including KYC, AML and GDPR and tie the digital identity to the physical world. Jumio has verified more than 100 million identities issued by over 200 countries from real time web and mobile transactions. Jumio’s solutions are used by leading companies in the financial services, sharing economy, higher education, cryptocurrency, retail, travel and online gaming sectors. Based in Palo Alto, Jumio operates globally with offices in the US, Europe, and Asia Pacific and has been the recipient of numerous awards for innovation. For more information, please visit www.jumio.com.
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