Jumio announces new customer, appoints new VP, opens Singapore office

Jumio is opening a new Singapore sales office and is appointing Frederic Ho as vice president, Asia Pacific, to oversee the global expansion. The Singapore team will serve businesses across Asia Pacific, including Singapore, Japan, China, Australia, Malaysia and Indonesia.

Mr. Ho has more than a decade of Asia Pacific experience selling and marketing information security solutions and will lead Jumio’s efforts to launch and expand its online identity verification solutions in the region across a broad range of verticals including banking, financial services, sharing economy, cryptocurrency, and online gaming.

“As regulations broaden enabling online identity verification, in lieu of in-branch, in-person verification, banks and other financial institutions have a tremendous opportunity to improve the user experience for creating new accounts online while simultaneously reducing the risk of fraud and meeting their KYC and AML obligation,” explained Ho.

Jumio uses computer vision technology, machine learning, artificial intelligence, biometrics and live verification experts to verify credentials issued by over 200 countries. The company currently serves HSBC and some of the largest digital banks in Europe including Monzo, Tide, and MetroBank.

Jumio streamlines customer onboarding for Goldmoney

Following a successful beta release, Goldmoney, a precious metal financial service and technology company, has launched a new onboarding method with Jumio that is entirely paperless and significantly reduces online friction associated with customer account setup.

Powered by Jumio’s real-time ID verification technology, Goldmoney clients simply take a photo of their government-issued ID and a selfie to verify their identity. New Goldmoney clients can apply for a Goldmoney Holding account and complete the verification process in less than 3 minutes, while current Holding owners can submit a photo of their government-issued ID and a selfie and unlock access to fully verified Holding features.

Jumio’s biometrics-based identity verification technology is in full compliance with Anti-Money Laundering (AML) legislation and Know Your Customer (KYC) requirements.

“According to recent Juniper research, the global cost of data breaches will rise to $2.1 trillion by 2019, so it’s increasingly imperative for online companies, especially financial institutions, to know, really know, who their customers are online,” said Jumio’s CEO, Steve Stuut. “It’s this delicate balance between fraud detection and the user experience that made us the right choice — not only for Goldmoney, but for a growing roster of digital banks, foreign exchanges, and cryptocurrency exchanges.”

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