Agile User Authentication Solution Changing the Game of Identity...
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Agile User Authentication Solution Changing the Game of Identity Verification and Onboarding

By Capital Markets CIO Outlook | Tuesday, August 20, 2019

Robert E. Prigge, President & CEO

In the digitally driven world, securing online customer identity has become a moving target. Given that, financial institutions are in dire need for full-fledged solutions from onboarding verification to ongoing authentication to engage their customers and drive business.  

FREMONT, CA: The pioneer in AI-powered identity as a service provider, Jumio teams up with BTG Pactual to enable the Brazilian investment bank vet the digital identity of its new clients and automate its onboarding process. The partnership proves Jumio’s commitment to serving fintechs and financial service organizations in the fast-growing market.

“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,” extols Robert E. Prigge, President of Jumio. “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.”

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ID card issuance network demands digital integration due to the different regulatory rules and standards for issuing ID cards. BTG can now leverage identity verification solution to process Brazilian ID documents. The ability to offer the most sophisticated solution in the market and its reliability in verifying multiple types of government-issued identity proofs have made BTG choose Jumio as its partner. “We have had a fast, friction-free onboarding process since Day 1 thanks to Jumio,” remarks Rogerio Karp, Head of B2C and Products for BTG Pactual digital. “Even though some users have tried to trick our onboarding process, with Jumio, we are able to identify them before they can cause us any harm.”  

Online identity matters a lot as banking goes digital in its battle to attract digitally-driven customers. Cybercriminals with sophisticated attack vectors are making online trust tricky. With the number of cyber threats growing day by day, financial institutions need to battle them with more secure and reliable verification methods for identity verifications. Jumio connects an individual’s online and real-world identities to help fight fraud, maintain compliance, and genuine onboard customers, faster. It uses computer vision technology, machine learning, and live authentication experts to verify the credentials of customers distributed globally. Its service offerings include ID verification to determine if an ID is authentic and belongs to the concerned customer.

The Jumio powers financial firms with scalable and secure identity verification tools, facilitating them to develop and sustain trust in an increasingly transitioning digital world. It helps optimize conversions by identifying frauds and meeting compliance mandates, along with providing seamless customer experience. Jumio is leveraging biometrics and artificial intelligence backed by verification experts to enhance accuracy. From onboarding verification to ongoing authentication, it offers a complete solution for the financial institutions to engage their customers and drive the business leveraging online. By creating the best possible experience in fighting financial crime, Jumio positions data security, and system integrity at the heart of every economic and KYC transaction.

The company’s ability to reliably and quickly verify customers for businesses is well appreciated throughout the world. Jumio—ranked among the Top 10 KYC Tech Solution Providers by Capital Market’s CIO Outlook— is embraced by leading companies in the financial services, shared economy, travel, retail, and online gaming sectors. “The opportunity that lies ahead for Jumio is enormous, and I am focused on accelerating the innovation— especially in the areas of AI and biometrics—and execution that our customers need from us. Their success will continue to drive us,” concludes Prigge.  

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