Meed Partners with Jumio to Improve Remote Identity Verification, KYC Compliance and Coverage for Its Global Rollout
Innovative fintech firm views partnership as key to reach new markets, delivering digital consumer base to member banks globally
PALO ALTO, CALIF – December 20, 2017 – Jumio, the creator of Netverify® identity verification solutions, announced a partnership with Meed, a GlobeOne Company and Santa Monica-based fintech organization. Jumio will provide Meed with accurate, remote ID verification services for its package of financial services, maintained by Meed’s digital banking partners around the world.
A whole generation of millennials and digitally-savvy consumers has realized that the traditional retail banking model simply isn’t meeting their needs. Looking for comprehensive financial solutions that are 100-percent digital and that reflect social consciousness and the sharing economy, consumers are faced with an industry still based on an outdated brick-and-mortar model and mired by recent scandals. Meed is building an entire financial ecosystem in conjunction with its member banks across the world, with a goal of delivering not just checking, saving and credit services, but an unrivaled consumer value equation through further collaboration with a network of corporate partners.
This is all accessed through an entirely digital platform, including the application process, which has to be consistently fast and accurate to meet the demands of consumers and regulators alike.
“Our innovative business model puts a premium on global coverage, KYC/AML compliance and a seamless customer experience,” said Stephen Landry, Chief Operating and Technology Officer at Meed. “We looked at many providers, but found the Jumio solution to be superior based the quality of their global footprint and the sophistication and accuracy of their biometric-based identity verification.”
Meed is currently working with banks in Vietnam, but is quickly expanding to the United States and Mexico in 2018.
Jumio’s trusted Netverify solutions will help Meed deliver a hassle-free online experience by verifying the authenticity of government-issued IDs and the digital identities of new users so they can quickly be directed to regional member banks as part of their virtual matchmaking service.
As a fintech innovator, Meed is helping transform long-standing traditions about new customer verification and KYC/AML compliance. Instead of driving customers to physical branches, Meed is striving to help banks and the regulators who govern them leverage modern verification and biometric technologies to enhance financial inclusion on a global scale.
Netverify® Trusted Identity as a Service incorporates three core solutions: ID Verification, Identity Verification and Document Verification, and uses advanced technology such as AI, machine learning, eyeball tracking and human verification experts to establish the real-world identity of the consumer.
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 solutions 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, and human review, Jumio helps customers to meet regulatory compliance including KYC and AML and tie the digital identity to the physical world. Jumio has verified almost 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, 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.
Meed, a wholly-owned subsidiary of GlobeOne, was founded in 2013 and is headquartered in Santa Monica, CA. Meed has built a new global platform for a community of networked Member Banks, Corporate Members and individual Meed users, delivering to consumers a specially configured set of core banking and financial services products that incorporate gamification to promote financial health. In addition, Meed’s patent-pending SocialBoost program provides a unique acquisition and loyalty system for the Member Banks as well as a solution for financial exclusion and immobility. For more information, visit meed.net.
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