Payments and cryptocurrency platform selects Jumio to help scale its global expansion, onboard new customers, and satisfy AML and KYC requirements
SINGAPORE, March 13 (Bernama-GLOBE NEWSWIRE) -- Jumio, the leading AI-powered trusted identity as a service provider, today announced a partnership with Monaco, the pioneering payments and cryptocurrency platform that enables users to buy, exchange, and spend fiat and cryptocurrencies, such as bitcoin and ether, at perfect interbank exchange rates.
Monaco's vision of Cryptocurrency in Every WalletTM places a high premium on the user experience during the onboarding process. Jumio facilitates the process by providing the Know Your Customer (KYC) and Anti-money Laundering (AML) checks. To enable access to the app, users must first pass both the KYC and AML processes to verify that they are who they claim to be.
“As a leader in compliance and user experience, Monaco’s goal is to streamline the identity verification process without compromising accuracy,” said Kris Marszalek, Co-Founder and CEO of Monaco. “Jumio’s AI-powered technologies fit with our priority of creating smooth and simple user journeys, keeping our users happy and increasing client retention by taking the complexities out of the online verification process usually associated with regulatory KYC and AML compliance.”
This comes at a time when Asia Pacific markets are increasingly allowing financial services and payments companies to shift from manual, in-person verification processes to more modern online identity verification processes that make the most of available technologies, such as machine learning, AI, computer vision, and biometrics.
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