Jumio selected by Insights Network to simplify onboarding process
Jumio has announced it has been selected by EOS blockchain-based data exchange Insights Network to streamline the user onboarding authentication experience for its INSTAR Wallet.
The INSTAR Wallet enables users to share data with Insight Networks partners for market research purposes, in return for INSTAR tokens. More than 100,000 potential users have signed up, and 40,000 users have already passed their KYC check.
In addition to KYC requirements, users must also pass an Anti-Money Laundering (AML) check as part of the identity verification process for receiving a blockchain “passport” when setting up an INSTAR Wallet. The partnership reduces the friction of this experience by providing real-time KYC and AML-complaint ID verification, and removes the need for users to verify their identity every time they use the data exchange.
“As the recent uproar over the misuse of data by Cambridge Analytica suggests, privacy practices are often hidden in the fine print, which can let third parties access consumers’ personal data without their knowledge,” said Jumio’s CEO, Stephen Stuut. “That’s why we’re so excited to partner with Insights Network. Together, we can simplify the compliance process for online identity verification and help users regain control of their personal data.”
“Guaranteeing providers a high level of security and anonymity with the information they choose to disclose while simultaneously ensuring requesters have access to accurate data remains our top priority,” said Brian Gallagher, CEO of Insights Network. “By partnering with companies like Jumio, we are able to integrate best-in- class verification solutions to assure all of our users are operating at a level of maximum security and benefit to both parties.”