Jumio’s technology will provide faster, streamlined account onboarding
Sokin, the new generation payments firm, has announced a partnership with Jumio to introduce the latest digital identity verification technology as part of its client onboarding process. Sokin offers an easy to use fixed price subscription service for global payments which cuts out repeat and hidden costs, with transactions handled at some of the best market rates.
By integrating Jumio’s AI-powered identity verification, Sokin is able to verify online customers by having them first capture a picture of their government-issued ID with a smartphone, and then take a corroborating selfie with embedded certified liveness detection functionality. This process ensures that the customer is who they claim to be and physically present during new account onboarding.
“We offer payment cards in over 75 countries and wallets in 150 countries so need to have fast and effective client identification as part of our detailed compliance processes,” said Sokin CEO Vroon Modgill. “We want to be able to check and onboard everyone as quickly and efficiently as possible, so they can benefit from making payments or transferring money with Sokin. Jumio offers best-in-class technology which complements our systems, so we are very pleased that this partnership enables us to work together.”
Sokin allows users to make unlimited payments and transfers for one low monthly fee, starting at $2.99. There is no mark-up on transactions and on average prices are 20% lower than other existing payment solutions. Fast and secure payments are made through Sokin’s app covering a range of business and consumer clients.
“Jumio technology is now essential for all businesses where KYC and AML compliance is built into online customer onboarding and authentication,” said Jumio CEO Robert Prigge. “Our solutions are designed to help fintechs like Sokin develop and expand their services across different regulatory environments.”
Sokin offers a subscription-based payment solution issuing cards in over 75 countries and wallets in over 150 countries and more than 35 different currencies. For more information please go to www.sokin.net.
About Jumio
When identity matters, trust Jumio. Jumio’s mission is to make the internet a safer place by protecting the ecosystems of businesses through cutting-edge online identity verification and authentication services that quickly and accurately connect a person’s online and real-world identities. Jumio’s end-to-end identity verification solutions fight fraud, maintain compliance and onboard good customers faster.
Leveraging advanced technology including informed AI, biometrics, machine learning, certified 3D liveness detection and human review, Jumio helps organizations meet regulatory compliance including KYC, AML and GDPR and definitively establish the digital identity of their customers. Jumio has verified more than 250 million identities issued by over 200 countries and territories from real-time web and mobile transactions. Jumio’s solutions are used by leading companies in the financial services, sharing economy, digital currency, retail, travel and online gaming sectors. Based in Palo Alto, Jumio operates globally with offices in North America, Latin America, Europe and Asia Pacific and has been the recipient of numerous awards for innovation.
About Sokin
Sokin is a next generation financial service provider which enables global payments for both consumers and businesses. Sokin believes in giving consumers the power to make payments and transfer money as many times as they want per month for one fee. Whether it’s sending money back home or transfers to friends or even settling with businesses using Sokin is quick and easy.
The current options for transferring money internationally are often complicated and expensive, with often a lack of transparency in the fees being paid. Sokin’s transparent fixed monthly cost, with no hidden charges, allows users to make payments in over 200 countries and exchange money in over 150 countries in more than 35 different currencies.
The Sokin app is available to download and customers can sign up to receive service updates.
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