Video-based verification is problematic for a number of reasons:
A more secure and streamline alternative is available thanks to online identity verification.
|Requires Waiting For Live Representative||Yes||No|
|Typical Completion Time||4 Minutes||1 Minute Or Less|
Jumio’s identity verification solutions use AI, machine learning, face-based biometrics and certified liveness detection to ensure the person behind a transaction is present and who they say are. Identity verification goes well beyond traditional authentication methods to deliver a significantly higher level of assurance and establish a trusted digital identity.
Updated FINMA regulations, which took effect in January 2020, include more stringent requirements aimed at making online identity verification even more secure. Jumio’s state-of-the-art identity verification technologies support FINMA regulations while also helping Swiss banks and financial institutions dramatically increase conversions and lower abandonment rates.