Category: Blog

Paysafe Case Study: Streamlining the Digital Onboarding Process with Jumio

Posted on by Loryll DeNamur
paysafe, jumio, streamlining digital onboarding

Paysafe is on a mission to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, card issuing and online cash solutions. Delivered through an integrated payments platform, their solutions are geared toward mobile-initiated transactions, real-time analytics and the convergence between brick-and-mortar and online payments. Onboarding new Paysafe…

Will the Biometrics in e-Passports Replace Today’s ID Cards?

Posted on by Jumio Corp
ePassports: the new ID card?

The problem with most plastic forms of government-issued IDs is that they can be forged or digitally manipulated with ease, and counterfeiters can now order high-resolution printing equipment and some basic security inks online. They often change the personalized data of an existing ID document through methods such as scratching, cutting, dissolving or using solvents…

Intelligent ID: How AI-Driven Biometrics Enhance Trust and Improve the Identity Lifecycle

Posted on by Loryll DeNamur
Intelligent ID

Not all biometrics are the same. Functionally they do the same thing — measure and compare unique physical or behavioral traits — but smart biometrics, which are enhanced by artificial intelligence and machine learning, adapt and evolve with every use. Smart biometrics are the foundational aspects of a broader trend that FindBiometrics calls “Intelligent ID” — a key…

Criminally Good Paintings: U.S. Senate Investigates Money Laundering in the Art Industry

Posted on by Jumio Corp

High-value art is being used by sanctioned individuals to launder money, according to a recent report by the U.S. Senate Permanent Subcommittee on Investigations. The art industry does not have the same anti-money laundering (AML) requirements as banks and other financial firms, creating a perfect loophole for criminals. Many auction houses do have voluntary AML programs in…

FBI Identifies Money Laundering Vulnerabilities at Private Equity Firms and Hedge Funds

Posted on by Jumio Corp

Money launderers are exploiting vulnerabilities in private equity firms and hedge funds, according to a recently leaked FBI report. These firms are not subject to the same anti-money laundering (AML) requirements as other financial firms. For example, whereas banks and broker-dealers are required to have an AML program in place and must perform Bank Secrecy Act filings and customer…

What’s New in Beam? July 2020 Product Update

Posted on by Jumio Corp

Update: The Beam platform is now Jumio Transaction Monitoring.  *** We have been very busy developing exciting new features in the Beam platform. Today we are happy to announce some major improvements that will make compliance even smoother in your organization. Quality Control (QC) This feature allows QC managers to verify that analysts are meeting…

Why Remote Onboarding Will Make or Break Banks in 2020

Posted on by Loryll DeNamur
remote onboarding: Make or Break

A J.D. Power study released in February 2020 found that the number of new account openings at bank branches now comprises just 55% of all new account openings, down 10 percentage points from just a year ago. The same study found that 31% of new account openings are executed through a bank website or mobile…

5 Ways It Pays to Go Beyond ID-Only Verification

Posted on by Jumio Corp
Beyond the ID

Identity theft and account takeover are on the rise, with cyberattacks targeting the financial sector increasing 238% from February to April 2020, according to a VMware Carbon Black report. Now more than ever, as businesses deal with the financial stressors of the global health and economic crisis brought on by COVID-19, there has never been…

Your Face as a Fraud Signal

Posted on by Jumio Corp
Defending Against Synthetic Identity Fraud

Synthetic identity fraud is one the fastest-growing — and hardest-to-detect — forms of identity theft in the U.S., according to the U.S. Federal Trade Commission. Synthetic identity fraud is responsible for up to 20% of credit losses and costs lenders billions each year, according to Auriemma Consulting Group. Synthetic identity fraud is when criminals combine…