JUMIO ANNOUNCES VIDEO VERIFICATION SOLUTION TO REDUCE ONBOARDING TIME, DETER FINANCIAL CRIME AND STR

AI and expert review drive the verification process, and each session is recorded to provide a defensible audit trail for regulators  LONDON, Oct 22 (Bernama-BUSINESS WIRE) -- Jumio, the leading provider of AI-powered end-to-end identity verification and eKYC solutions, today announced the launch of a new video-based verification solution for financial institutions and other regulated businesses. This solution is designed for banks, fintechs, cryptocurrency exchanges, digital wallets and other regulated businesses looking to pivot from branch-based onboarding to an omnichannel strategy in the wake of the COVID-19 pandemic. With Jumio Video Verification, financial institutions can safely and securely onboard remote customers online with two-way video-based verification while ensuring KYC/AML compliance through an audit trail and qualified preservation of all recorded interviews. Jumio offers three modes of Video Verification: ·   Assisted: Customers are identified through video assistance technology with dedicated or shared agents that interact in real-time via browser or mobile. Dedicated agents are provided by Jumio and are exclusively focused on onboarding customers for a single financial institution. With shared agents, businesses have a scalable team ready to take or make your calls. These representatives are shared between multiple clients. ·  Unassisted: Customers will independently capture a video of their identity documents, take a selfie and perform a liveness test without an online agent. Verification happens through a combination of AI and expert review. ·  Platform Only: Customers are identified and verified through video assistance technology staffed by your own agents. “Cybercriminals are innovative and trained to exploit loopholes. By using stolen real identities, purchased from the dark web, they’re often able to fool traditional forms of online identification,” said Dean Hickman-Smith, Jumio’s chief revenue officer. “With video-based KYC, businesses can reduce their cost of operations by as much as 90% by eliminating field agent travel, reducing paper costs and streamlining the recording, transmitting and archiving processes.” http://mrem.bernama.com/viewsm.php?idm=38483