Jumio renews digital ID partnership with Monzo

Latest News

Jumio renews digital ID partnership with Monzo

By Hannah McGrath

02/05/2019

Digital ID firm Jumio has struck a new multi-year agreement to provide regulatory technology to Monzo.

Jumio has provided the challenger bank with artificial intelligence (AI) driven software provider to help meet strict Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance mandates since 2017.

The new partnership is aimed at ensuring closer working between the two firms to simplify the mobile customer onboarding experience through online identity verification and maintaining the bank’s efforts to combat fraud and financial crime.

Natasha Vernier, Monzo’s head of financial crime, said: “As Monzo continues to grow and pursue new markets, we know that Jumio will scale with our business."

Simon Winchester, Jumio’s vice president of EMEA sales, added: “Digital transformation is imperative for emerging banks and FinTechs seeking to keep up with the needs of consumers, which is why it’s so important to adopt an automated KYC process."

Sanctions evasion in an era of conflict: Optimising KYC and monitoring to tackle crime

The ongoing war in Ukraine and resulting sanctions on Russia, and the continuing geopolitical tensions have resulted in an unprecedented increase in parties added to sanctions lists.

Achieving operational resilience in the financial sector: Navigating DORA with confidence

Operational resilience has become crucial for financial institutions navigating today's digital landscape riddled with cyber risks and challenges. The EU's Digital Operational Resilience Act (DORA) provides a harmonised framework to address these complexities, but there are key factors that financial institutions must ensure they consider.

Legacy isn’t the enemy: what FSIs can do to keep their systems up and running

In this webinar we will examine some of the steps FSIs have already taken to rigorously monitor and test systems – both manually and with AI-powered automation – while satisfying the concerns of regulators and customers.

Optimising digital banking: Unifying communications for seamless CX

In the digital age, financial institutions risk falling behind their rivals if they fail to unite fragmented communications ecosystems to deliver seamless, personalised customer experiences.

This FStech webinar sponsored by Precisely explores vital strategies to optimise cross-channel messaging through omnichannel orchestration and real-time customer data access.