Auctioning platform Saltrex to use Netverify facial recognition solution
Jumio, the developer of Netverify Trusted Identity as a Service, has partnered with Saltrex to provide a seamless identity verification process and to help meet its know your customer (KYC) and anti-money laundering (AML) compliance requirements for the online B2B auction platform.
According to a company statement, Saltrex provides a secure, simple, independent and compliant online B2B auction platform for all parties with an interest in goods and cargo.
Identity verification is particularly important in the trading industry as failure to ensure that a customer is who they say they are can result in many legal and compliance issues.
“Saltrex is the first commodity auctioning platform that requires very extensive processes for validating someone’s profile. We turned to Jumio because it offered a solution that was both reliable and trustworthy,” Michael Hajdasinski, director of Saltrex said. “As one of the fastest-growing online credentials management companies with a track record of helping companies in multiple verticals achieve know-your-customer compliance, we knew they could meet our exacting demands.
“Jumio is helping us build the trust necessary for our business to be a success. Even by using Netverify before our official launch, we are receiving positive feedback from potential business partners. So, we are confident that, upon launch, it will prove both popular and successful.”
Saltrex approached Jumio after thoroughly researching available solutions in the market, and eventually selected Netverify Trusted Identity as a Service to meet the strict KYC and AML compliant digital identity verification requirements.
To verify identity through Netverify, customers are required to scan a government-issued identification with a connected smart device.
The customer data is then collected for a full identity check and either verified as authentic or rejected.
In addition, Saltrex is using Jumio’s facial recognition technology to achieve best-in-class security and compliance, which allows users to capture a photo of themselves through their phone and submit the image along with their photo ID.
Jumio’s liveness technology can detect even the slightest facial movement, making sure that the selfie is live and valid and that the person who submits the ID is the owner of it.
“This is a new industry for us to enter and we are pleased to do so in partnership with such an innovative player,” Robert Prigge, CRO of Jumio said. “At Jumio we support and nurture innovation and are proud to work with Saltrex as it prepares to go to market with this exciting new venture.”
Earlier this year Jumio released Netverify Document Verification, the industry’s first web and mobile document verification solution.