Mobiquity adds Jumio’s biometric identity verification to secure digital onboarding
Digital consultancy company Mobiquity has partnered with Jumio to optimize and secure digital onboarding, as well as reduce abandonment rates through AI-powered online biometric identity verification, the company announced.
Companies operating in regulated industries have noticed that 40 percent of customers quit opening a new account if they find the process too time-consuming. To prevent this, Mobiquity now integrates Jumio’s online identity verification and authentication solutions into its digital onboarding service. By verifying digital identities, Mobiquity improves onboarding experience and reduces online fraud, while compliant with Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements.
“We are thrilled that our partnership with Jumio furthers our ability to deliver a holistic set of digital solutions for our banking clients while also providing beneficial offerings that extend into all of the industries we serve,” said John Castleman, CEO of Mobiquity, in a prepared statement. “As customers increasingly seek out digital access to the companies they do business with, it is more important than ever that businesses focus on efficient digital onboarding processes and avoid losing customers to competitors.”
“Sadly, the onboarding process for most modern enterprises, especially those operating in regulated industries, is painful and time-consuming,” said Robert Prigge, CEO of Jumio, in the press release. “Our partnership with Mobiquity enables our clients to enjoy a best-of-breed experience that puts our clients’ end users at the epicenter and delivers a fast, simple, and compliant sign-up process designed to optimize account conversions.”
Following the partnership, the customer-centric digital onboarding process has been enhanced with identity verification, fraud detection, KYC and AML compliance, and ongoing identity authentication for their shared customers.
Amid the COVID-19 crisis, Jumio launched a new initiative to provide free remote biometric identity verification with its Jumio Go service to organizations involved a range of pandemic relief and assistance activities.