Media ININ Economy We Trust
Media IN Manama, 24 June 2019 (BNA)
Jumio, the leading Artificial intelligence-powered trusted identity as a service provider, today announced a partnership with Bank ABC, the MENA (Middle East and North Africa) region’s leading international bank.
The partnership enables Bank ABC’s new mobile-only bank to compliantly onboard new individual customers using Jumio’s biometric-based identity verification solution.
Based in Bahrain, Bank ABC currently serves customers on five continents, covering countries in the Middle East, North Africa, Europe, the Americas and Asia.
Bank ABC plans to launch one of the region’s first digital banks and has invested in establishing digitised operations including a fully digital KYC capability. Simplifying and streamlining the onboarding process is central to these efforts.
Traditionally, it takes consumers one to two weeks to create a new account and requires them to visit a local branch in person to complete the account set-up process.
“Bank ABC is committed to leveraging the benefits of AI technologies to create seamless customer journeys for accessing banking services securely,” said Sael Al Waary, Bank ABC’s Deputy Group Chief Executive Officer.
Bank ABC’s integration of Jumio’s Identity Verification enables the bank to verify online customers by having them first capture a picture of their government-issued ID with a smartphone and then take a selfie, with certified liveness detection functionality.
This process ensures that the user is who they claim to be and physically present during the transaction. As Bank ABC expands digital operations globally and in the MENA region, Jumio will support such growth with its ability to verify IDs digitally across geographies.
