Jumio identity verification tech enhances financial crime detection platform
TruNarrative has deployed Jumio AI-powered identity verification technology to enhance its single financial crime detection platform, enabling TruNarrative clients and prospects to easily embed Jumio’s identity verification solutions into their TruNarrative configuration for a more streamlined account set-up process, simplified KYC compliance, and advanced detection of financial crime.
Jumio’s automated identity proofing solution covers more than 200 countries and territories, and supports more than 3,300 ID document types. Its technology leverages a unique hybrid approach of augmented intelligence, AI, machine learning, face-based biometrics, certified liveness detection, computer vision technologies and human review to prevent fraud and determine if users are who they claim to be.
“Protecting your customers while making the experience as frictionless as possible has long been the goal for financial services and payment companies, but it’s required them to stitch together a variety of disparate solutions,” explains Stephen Kearney, Jumio head of worldwide partnerships. “With TruNarrative, Jumio’s identity proofing, fraud detection and eKYC solutions can be easily integrated into a single platform that enables these organizations to better defend themselves against financial crime.”
“We are very pleased to welcome Jumio as a partner within our Appstore,” adds John Lord, TruNarrative CEO. “The service helps our customers comply with their obligation to verify that their customers are who they say they are, enhancing the use of traditional evidence databases and document verification.”
SIIA CODiE Award finalist
Jumio has been named a 2019 SIIA CODiE Awards finalist in the best compliance solution category. Finalists represent the best products, technologies and services in software, information and business technology. Jumio was recognized as one of the best compliance solutions that enable businesses to connect regulatory developments with internal policy systems, organizational risks and controls and regulatory training.
The SIIA CODiE Awards offer 76 categories with an industry focus on education technology and business technology. Jumio was honored as one of 137 finalists across the 44 business technology categories.
Jumio notes it has completed over 170 million verifications to date. Jumio also helps organizations meet regulatory compliance requirements including Know Your Customer (KYC), Anti-Money Laundering (AML), California Consumer Privacy Act (CCPA), Revised Payment Services Directive (PSD2) and General Data Protection Regulation (GDPR).
Jumio recently picked up a couple of Stevie Awards at this year’s 17th annual American Business Awards.