The Trusted Identity Blog

I grew up in a small business. A very small business. My dad managed a convenience store, my mom managed the books, and my brother and I managed the cash register and stocked the shelves. It was a 24x7x365 day operation. When an employee didn’t show up for their shift, one of us would have…

More than ever, it is important to establish trust remotely. Here at Jumio, we have the good fortune of being the world’s most trusted source of remotely determining who someone really is. We serve some of the largest brands in the world who use us to verify online users and prevent fraud across the globe…

The COVID-19 outbreak is a tragedy that will have widespread and long-lasting implications for humanity and our global economy. As the coronavirus continues to spread around the world, more and more enterprises will miss their financial targets because of supply chain disruptions and dampened customer demand. It’s also unclear how long this pandemic will last,…

In recent years, we have witnessed accelerated growth in Asia’s digital banking sector. More fintechs and newly licensed virtual banks are coming to market to address the unbanked segment, while traditional banks are transforming to manage costs and achieve operational efficiency in this increasingly competitive landscape. However, digitization has also exposed businesses to new risks,…

Know Your Customer (KYC) refers to the process institutions use to verify the identities of their customers and ascertain what fraud risks they may pose. The premise is that knowing your customers — performing identity verification, reviewing their financial activities, and assessing their risk factors — can keep money laundering, terrorism financing and other types…

Data breaches, compliance mandates, and identity theft have made it increasingly difficult for organizations and individuals to establish trust online. Yet, for those very same reasons, it’s more important than ever. From the baseline identification of a customer or user to the recurring process of ensuring that the person logging into or using your online…

The digital onboarding journey is in need of a serious shake-up. While 72% of consumers want an all-digital onboarding experience, they’re clearly not happy with the current state of affairs — 56% of online bank account applications in the UK were abandoned due to a long or complicated enrollment process. There are a number of…

There are literally billions of dollars — somewhere between $40 billion and $50 billion — of unclaimed property held by states. Each year, unclaimed or abandoned assets are turned over to each state’s Unclaimed Property divisions by financial institutions and businesses that lose contact with the owners of those assets. Each state’s treasury department serves…

What is regtech? Regulatory Technology is an emerging field that applies new technologies to manage the administration of regulatory requirements, and is considered a subset of fintech (technologies that make financial activities more efficient). Here’s how John Dwyer, senior research analyst at Celent, explains the growth of regtech. “By harnessing technology to improve and optimize…

Jumio recently announced the beta launch of Jumio Go, a fully automated identity verification solution. Jumio Go combines AI, OCR and certified liveness detection technologies to automatically extract ID document data and validate the user’s digital identity in real time. Jumio Go, along with Jumio’s entire suite of identity verification and authentication solutions, automatically performs…

The Hudson United Bank of New Jersey was one of the banks used by the airplane hijackers who perpetrated the deadliest attack ever on American soil on Sept. 11, 2001. According to the 9/11 Commission, money-laundering safeguards at the time were not designed to detect or disrupt the type of deposits, withdrawals and wire transfers…

In the real world, proving your identity is pretty straightforward. When you show up in person to open a bank account, rent a car, book a hotel room, gamble at a casino or purchase alcohol, you present your government-issued ID, proof of address or whatever else might be required for the transaction, and the company…