BTG Pactual deploys Jumio biometric digital onboarding technology

Brazilian investment bank BTG Pactual has deployed Jumio‘s AI-powered identity verification solution with biometric face-matching technology to help properly vet the digital identity of new clients and automate the onboarding process for its new digital division which allows clients to open a new account online and manage investments through the digital platform.

According to the announcement, BTG Pactual chose Jumio because it offers the most mature solution for the Brazilian market and accepts and reliably verifies multiple types of government-issued IDs including passports, driver’s licenses and ID cards.

“We are extremely proud to partner with BTG Pactual, Latin America’s largest investment bank, to develop their digital investment services and provide faster verification and client onboarding,” says Robert Prigge, Jumio president. “Throughout Latam, it’s becoming increasingly important for growing banks to accelerate customer acquisition with instant, paperless KYC processes while holding high standards of data privacy and integrity.”

Earlier this year Jumio established a new sales office in Brazil to strategically serve the growing Latin American fintech, financial service and sharing economy markets. Jumio’s expansion into the region began in August 2018 when Jumio SAS started operations in Barranquilla, Colombia. The operations center, which employs more than 400 identity professionals, was Jumio’s first Latin American office and is being leveraged to help verify government-issued IDs and identities of Jumio’s global customer base.

Jumio has a growing number of Latin America customers including Kubo Financiero and Tecnología en Entretenimiento Caliplay. The company expects triple-digit Latam growth in 2019.

The AI-powered trusted identity as a service provider was named a winner of the recent 2019 Fortress Cyber Security Award in the Authentication and Identity category for its market-leading authentication technology and AI innovation.

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