Bahrain’s Bank ABC has partnered with Jumio, deploying the latter’s Identity Verification platform to facilitate customer onboarding on its digital banking channels. Jumio’s facial recognition technology will allow new customers to open a Bank ABC account without needing to visit a physical branch location.
To use Jumio Identity Verification, prospective Bank ABC clients will need to take a picture of their official photo ID, and then take a selfie to prove that they match the ID and that they are indeed present for the interaction. The Jumio solution offers liveness detection to ensure compliance with international Know-Your-Customer regulations, and drastically reduces the amount of time needed for the onboarding process.
“As more customers move online and transact via their mobile devices, it’s critical for Bank ABC to deliver a simple, fast and intuitive onboarding experience that takes minutes, not hours or days,” said Bank ABC Group Chief Digital Officer Yousif Almas.
Of course, Bank ABC is not the first bank to take advantage of Jumio’s secure onboarding technology. Earlier this month, Jumio joined forces with Brazil’s BTG Pactual, and recently renewed its partnership with the UK-based digital bank Monzo, a collaboration that garnered a pair of medals at the 2018 UK Digital Experience Awards.
Source: Intelligent CIO
July 29, 2019 – by Eric Weiss