Jumio Provides Biometric Onboarding for Nationwide Building Society

Another financial institution has turned to Jumio for remote onboarding and identity verification. The company’s latest customer is the Nationwide Building Society, which is based in the United Kingdom.

Thanks to the new partnership, Nationwide has been able to integrate Jumio’s API into its own online account opening workflows. In doing so, it has boosted its conversion rates by delivering a smoother onboarding experience for end users. Jumio’s solution uses AI and machine learning to automate key Know Your Customer procedures, with a system that combines face and document recognition to match a selfie to the image on a photo ID.

From there, Nationwide can make a decision about each customer knowing that the information they have presented is accurate. Jumio confirms that a document is authentic, and can even extract details like date of birth from government IDs to determine the ages of people opening youth accounts. The solution also uses iProov’s liveness detection tech to make sure that the document holder is present for the interaction.

Jumio’s API will flag documents and users if it detects signs of potential fraud. According to Nationwide, the enhanced identity verification process will eliminate the need to visit a local bank branch when opening a new account.

“With Jumio we’re able to provide an end-to-end digital process for the majority of our customers,” said Nationwide delivery lead Carlo Mascia. “The time it takes to open an account has been dramatically reduced, but the customer experience is the greatest win.”

“By using Jumio’s AI-powered solutions, Nationwide is able to provide a seamless digital onboarding experience to customers of all ages,” added Jumio EMEA VP Mark Reeves.

Nationwide recently started issuing bank cards made with recycled PVC materials from IDEMIA. Jumio acquired 4Stop earlier this year, and has previously provided identity verification services for Lanistar and CIMB Bank Philippines.

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February 2, 2022 – by Eric Weiss