New Singapore sales
office to serve the growing demand for online digital verification
services to help banks and financial services companies efficiently
comply with AML and KYC regulations
SINGAPORE, March 12 (Bernama-GLOBE NEWSWIRE) -- Jumio, the leading AI-powered trusted identity as a service provider,
today announced it is opening a new Singapore sales office and
appointing Frederic Ho as vice president, Asia Pacific, to oversee the
global expansion. These announcements build upon Jumio’s continued
global expansion and will help AsiaPac banks, financial services, and
growing enterprises with a reliable, accurate, and compliant means of
digital identity verification.
Mr. Ho has more than a decade of
Asia Pacific experience selling and marketing information security
solutions, including Micro Focus, OpenText, and Autonomy, targeting top
ASEAN commercial and government enterprises. He will lead Jumio’s
efforts to launch and expand its online identity verification solutions
in the region across a broad range of verticals including banking,
financial services, sharing economy, cryptocurrency, and online gaming.
The
popularity and viability of online identity verification is growing
dramatically in Asia Pacific due to the growing need to reliably
establish someone’s genuine identity online. Research by Forrester and analytics firm GBG finds
95 percent of Australian financial firms are concerned with their
ability to identify customers, while 92 percent place a "high to
critical" priority on conducting identity checks properly.
As
financial institutions struggle to balance the needs for strict AML and
KYC compliance while improving the online experience, Asia Pacific
regulators are increasingly allowing these firms to accept digital forms
of identity. Banks are required to verify customers' identities before
signing them up for any products, but now they’re now being allowed to
carry out non face-to-face verification of customer identity. For
example, the Monetary Authority of Singapore (MAS) allows banks and
financial firms to check and verify the identities of their customers
using biometric identification and other forms of a secure digital
signature.
“As regulations broaden enabling online identity
verification–in lieu of in-branch, in-person verification – banks and
other financial institutions have a tremendous opportunity to improve
the user experience for creating new accounts online while
simultaneously reducing the risk of fraud and meeting their KYC and AML
obligation,” said Frederic Ho.
Jumio uses computer vision
technology, machine learning, artificial intelligence, biometrics and
live verification experts to verify credentials (e.g., passports,
driver’s licenses, etc.) issued by over 200 countries. Jumio is widely
considered to be the largest and most accurate solution in the market
and used by leading companies in the financial services, sharing
economy, retail, travel, cryptocurrency and online gaming sectors. Jumio
currently serves HSBC and some of the largest challenger (digital)
banks in Europe including Monzo, Tide, and MetroBank.
The
Singapore team will serve businesses across Asia Pacific, including
Singapore, Japan, China, Australia, Malaysia and Indonesia.
For
live demonstrations of the Netverify ID, Identity and Document
Verification solutions, visit Jumio at booth E45 during Money 20/20 Asia
in Singapore, March 13-15.
About Jumio
When
identity matters, trust Jumio. Jumio is the creator of Netverify® which
enables businesses to increase customer conversions while providing a
seamless customer experience and reducing fraud. By combining the three
core solutions of ID Verification, Identity Verification and Document Verification, gaming operators now have a complete solution that allows them to establish the real-world identity of the consumer.
Leveraging
advanced technology like biometric facial recognition, machine
learning, artificial intelligence and human review, Jumio helps
customers to meet regulatory compliance including KYC, AML and GDPR and
tie the digital identity to the physical world. Jumio has verified more
than 100 million identities issued by over 200 countries from real time
web and mobile transactions. Jumio’s solutions are used by leading
companies in the online gaming, financial services, sharing economy,
cryptocurrency, higher education, retail, and travel sectors.
Based
in Palo Alto, Jumio operates globally with offices in the US, Europe,
and Asia Pacific and has been the recipient of numerous awards for
innovation. For more information, please visit www.jumio.com.
Media Contacts
U.S. Media Contact
Caitlin Haskins
10Fold Communications
Jumio@10fold.com
415-800-5369
SOURCE : Jumio Corp.
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