The Identity and Beyond Blog

Our take on identity and compliance in a digital-first world.

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Big Data + AML Compliance

How Big Data Can Improve AML Compliance Processes

April 28, 2021

Anti-money laundering (AML) refers to the laws, regulations and processes that businesses must comply with to help stop financial crime. Criminals use money laundering to attempt to hide illicit funds such as income from drug dealing, human trafficking and terrorist financing. Businesses that move money must comply with AML regulations by having an effective AML…

“Isn’t AML just for banks?”

Think you don’t need an AML solution? Think again.

April 22, 2021

“We’re not a financial institution.” “Our sponsor bank takes care of that.” “We’re fine using spreadsheets for now.” “Isn’t AML just for banks?” These are common lines of reasoning people have for scrolling past the anti-money laundering articles. But AML regulations are becoming broader in terms of markets covered and stricter in obligations all the…

Bofin Case Study: Breaking Global Banking Barriers with Jumio

March 30, 2021

Bofin’s vision is to offer a single globalized marketplace where consumers can apply for and manage all their business and personal financial products, all through one easy-to-use mobile app. By getting banks and financial service providers to compete for business through its platform, Bofin gives the consumer a voice and drives innovation within the banking…

The Rise of the Jumio KYX Platform in a World of Fraud, Compliance and Financial Crime

March 10, 2021

The worlds of identity verification, compliance and fraud detection are increasingly intertwined. This is why so many online organizations need to rely on myriad solutions that must be stitched together to help ensure the user experience isn’t too disjointed, time-consuming or onerous. We surveyed dozens of our customers and asked them to walk us through…

Jumio 2020 Partners of the Year

Jumio Recognizes Its Top Regional Partners for 2020

March 04, 2021

This past week, Jumio formally announced the regional winners of the Partner of the Year Awards. Jumio has built robust channel programs designed to foster a network of business partners that deliver comprehensive, high-quality identity verification, onboarding and compliance services around the world. “The year’s award winners include strategic partners that have gone above and…

How Identity Verification Can Help U.S. Colleges Weather the COVID Pandemic

February 17, 2021

COVID-19 continues to have a massive impact on higher education. After an initial rush to remote learning in the early days of the pandemic and a tumultuous fall semester, schools are taking different approaches to instruction this spring, with nearly 40% of U.S. colleges and universities teaching primarily online and more than a quarter offering…

Beyond Simple Case Management

Beyond Simple Case Management: How to Choose an AML Investigation Management Solution

February 12, 2021

Maybe you’re a new fintech who has been told you need a transaction monitoring, anti-money laundering (AML) solution. Or you’re a traditional bank with an outdated legacy system and have been told you need to innovate your compliance program in order to save costs and reduce risk. How do you go about finding a solution?…

2021 Age Verification Updates

2021: New Age Restrictions Come Into Play in Europe

January 06, 2021

Providers of social and online gaming have a busy year ahead if they want to ensure geographic jurisdiction and age verification rules requirements are met in Europe’s main markets. Some important changes are coming into law in 2021 that affect how online casinos and gaming sites should manage their Know Your Customer (KYC) and age…

Innovation is the Key to Future-Proofing Traditional Banks

January 05, 2021

With the rise of new players in the banking space over the last few years, traditional banks have been inundated with the same advice: innovate or die. But when the COVID-19 pandemic hit, this message became an immediate call to action. Quite simply, banks currently have a small window of opportunity to innovate in order…

Enterprises Step Up Identity Verification to Combat Rising Account Takeover, Identity Fraud and Credential Stuffing Attacks in 2021

December 22, 2020

As business remains online with the pandemic continuing into the new year, it is more important than ever for enterprises to know their users are who they claim to be and not someone logging in with stolen information. And with traditional authentication methods, such as verifying user identity against a database or using passwords or…

5 Surprising Findings from the 2020 Holiday Fraud Report

December 15, 2020

Despite widespread reports of fraud increasing because of COVID-19, Jumio customers actually saw a 23% decrease in fraud in 2020. That was just one of the unexpected findings in the fourth edition of Jumio’s Holiday New Account Fraud Report. Every year, our holiday fraud report examines the attempts that users made to fraudulently open new…

Jumio Transaction Monitoring Named Top 10 KYC Solution Provider

December 11, 2020

Since the Beam Solutions platform was acquired by Jumio in September, we have been busy integrating Beam into the Jumio KYX Platform and settling into our new home. The Beam solutions are now under the umbrella of Jumio Transaction Monitoring, which includes monitoring and detection of transactions, accounts, and parties as well as watchlist screening,…