Webull Case Study: Bolstering trust, safety and financial inclusion with Jumio

image of woman in background holding smart device. Webull logo and Jumio logo. Text reads: bolstering trust, safety and financial inclusion with Jumio.

Webull is a leading digital investment platform built on next-generation global infrastructure. Founded in 2016, Webull Corporation serves tens of millions of users from over 180 countries, providing retail investors 24/7 access to financial markets around the world. Users can put investment strategies to work by trading global stocks, ETFs, options and fractional shares through Webull’s trading platform, which is currently available in the United States, Hong Kong, Singapore and Australia.

Incorporated in 2021, Webull Securities (Singapore) Pte. Ltd. is regulated by the Monetary Authority of Singapore (MAS) and holds a Capital Markets Services (CMS) Licence under the Securities and Futures Act 2001. Leveraging Webull’s wide global presence, Webull Singapore aims to create an efficient, low-cost and easy-to-use global asset distribution platform for the APAC region.

The MAS and other licensing authorities require banks and financial service providers to implement electronic Know Your Customer (eKYC) processes if they want to onboard customers online. As such, Webull needed a vendor familiar with global regulatory standards that would help scale eKYC compliance in line with their expanding global business operations.

After evaluating several vendors, Webull chose Jumio. They rolled out Jumio Identity Verification first in Singapore and then expanded to a global model that also supports business in Australia and the U.K. Jumio will also support Webull’s upcoming expansion into Indonesia.

“Jumio’s adept integration across industries underscores their pursuit of excellence and in the ongoing efforts to improve security,” said Bernard Teo, Webull’s head of Asia-Pacific operations and CEO of Webull Securities (Singapore) Pte. Ltd. “In the Asia-Pacific region, where digital transformation is pivotal, Jumio enhances efficiency, fosters trust and ensures financial inclusion. Amid evolving regulations, their role in innovation is remarkable. We value our robust partnership.”

Read the entire case study here.


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