Idemia awarded for digital identity solution targeting less privileged, Jumio among top KYC providers

Idemia emerged in second place at the AFI 2020 Inclusive Fintech Showcase for its solution which facilitates digital identity service delivery for disadvantaged and vulnerable groups.

In an announcement, the augmented identity solutions provider said it was among 12 shortlisted companies in the showcase event which celebrates solutions that are capable of helping disadvantaged persons, advancing financial inclusion and checking the impact of the global coronavirus pandemic. The shortlist was named in November.

During a virtual presentation to the AFI jury, Idemia’s director of business intelligence at the company’s digital business unit, Ali Akbar, highlighted in what ways fintechs and regulators can explore their solution in providing digital identity registration or verification services to the disadvantaged, allowing them access to certain basic needs.

Idemia said finishing among the top three companies at the showcase also means it will be allowed to take part in AFI’s public-private dialogue platform and will enjoy membership, for a period of one year, into the Luxembourg House of Financial Technology (LHoFT) which provides a number of services to fintech companies.

Matthew Cole, chief executive officer of Idemia’s SET division expressed gratitude for the award. “We are extremely pleased to be recognized by AFI. By reducing the hurdles to financial inclusion and leveraging risk-based KYC approaches, we can create channels through which the world’s most vulnerable populations can access essential services and enter the digital financial world,” he said.

Jumio platform among top 10 KYC solution providers

Beam Solutions, operating under Jumio Transaction Monitoring platform following its recent acquisition, has been named among the world’s 10 best companies dealing in KYC solutions for the year 2020.

In a recent report by Banking CIO Outlook magazine, the 10 listed companies were qualified as “prominent organizations in the industry that address issues pertinent to the financial sector by implementing current trends,” according to an article on Jumio’s website.

Artificial intelligence, blockchain analytics and social biometrics in modern KYC solutions were also discussed in the report, the article noted.

Robert Prigge, Jumio chief executive officer expressed delight at the report. “Jumio Transaction Monitoring enables seamless ongoing customer due diligence to ensure KYC compliance for the entire customer journey. From onboarding to transaction monitoring, case management and AML reporting, Jumio’s KYX platform is the only complete end-to-end compliance platform,” he stated.

Jumio Transaction Monitoring, among other things, ensures the monitoring and detection of transactions, accounts, and parties as well as watchlist screening, investigation and case management, and suspicious activity reporting, the post mentioned.

Investment firm lauds AU10TIX breadth and automation

Global investment firm William Blair has named AU10TIX’ identity management platform as the “broadest” and “most automated” among the market’s many offerings, according to a company announcement.

The recognition comes from the firm’s report on ‘True Identity Management: Transforming ID Verification with Biometrics and AI.’

“We’re honored to have our world-class identity intelligence solutions recognized by William Blair,” said Ron Atzmon, deputy active chairman at AU10TIX. “We’ve spent the past decade building and expanding an ultrafast, autonomous-by-design platform to verify identities worldwide. Our computer vision and machine-learning systems support thousands of document types and all languages, so businesses and their customers can confidently connect anywhere, anytime. We’re constantly working on what’s next for identity’s role in society with a focus on resilience, safety and reliability at scale.”

Article Topics

AU10TIX  |  biometrics  |  digital identity  |  IDEMIA  |  identity management  |  identity verification  |  Jumio  |  KYC  |  secure transactions