Compliance & Regulations

Malaysian eKYC Compliance

Discover the digital identity verification and eKYC solution trusted by leading financial institutions worldwide.

BNM eKYC Guidelines

The Malaysia eKYC policies allow banks, financial services and insurers operating in Malaysia to conduct video calls or leverage technology like AI, biometrics and liveness detection to onboard customers online, verifying their identity and ensuring they are not impersonating someone else. In April 2024, Bank Negara Malaysia (BNM) issued an updated eKYC policy document, strengthening requirements to maintain the relevance, robustness and reliability of eKYC solutions amidst technological advancements, while also broadening their scope to include individuals and legal entities.

The Opportunity

With the implementation of eKYC, financial institutions can onboard new customers without requiring them to visit a physical branch. KYC can be performed remotely anytime and anywhere at the customer’s convenience. Allowing digital onboarding opens up greater market opportunities for the banking and financial services sector and facilitates financial inclusion.

How Jumio Helps Malaysian Financial Institutions Achieve eKYC Compliance

Achieve transparency and accountability with a proven solution

Jumio has successfully completed the independent eKYC Breakthrough Assessment required by BNM with zero exceptions, so regulated businesses can choose Jumio with confidence. Audited functionality includes:

ID Verification
Liveness Detection
Facial recognition modules

Establish trusted digital identity

Jumio identity verification leverages AI, machine learning, face-based biometrics and advanced liveness detection to quickly and accurately verify the digital identity of remote users. With the power of identity intelligence, Jumio moves beyond yes-or-no decisions, connecting signals, adapting to risk, and turning identity into actionable insight.

Achieve low FAR and FRR

For Jumio, false acceptance rate and false rejection rates are optimized through a combination of AI, biometrics and OCR, leveraging our global experience to deliver industry-leading accuracy rates.

See how Jumio can help you satisfy Malaysian eKYC guidelines

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Trusted by leading brands worldwide.

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There was definitely an increase in conversions as a result of implementing Jumio, and a big step change for us compared to when we were doing manual reviews. That helped us in a real, tangible way. It was very impactful for onboarding and conversions."

Jason Harper, Vice President of Product, Paysafe