Jumio has announced the partnership with digital bank Monzo, to verify new users and support know-your-customer (KYC) requirements.
Monzo will use Jumio’s Netverify to help verify customers who are moving from its prepaid card service to a full current account. This will enable the bank to comply with KYC requirements while removing the manual verifications from Monzo employees.
Jumio’s solution will also be used to verify existing prepaid card consumers and new people signing up for Monzo’s current accounts.
Jumio is an identity verification and credentials company that helps businesses reduce fraud. The company utilises proprietary computer vision technology to reduce customer sign-up and checkout friction.