LONDON--(BUSINESS WIRE/AETOSWire)-- Jumio, the leading AI-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.

Earlier this year at the 3rd Middle East and Africa FinTech Forum, Al Waary said: “Across the region, banks and other financial institutions are facing enormous disruption from technology. But change should be embraced, not feared. Technology will revolutionize the way we do business. More importantly, it will empower people across the region, and be a force for true inclusion.”

“We’re proud to be the first bank in the Middle East to leverage face-based biometrics to streamline the KYC and identity-proofing processes,” said Yousif Almas, Group Chief Digital Officer at Bank ABC. “As more and more customers move online and transact via their mobile devices, it’s critical for Bank ABC to deliver a simple, fast and intuitive onboarding experience that takes minutes, not hours or days.”

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.

“Jumio is excited to partner with Bank ABC and help the company revolutionize digital banking in the Middle East,” said Robert Prigge, Jumio President. “We’re happy to contribute to their mission of delivering a level of service that matches, or exceeds, the market practice internationally by providing the leading-edge identity verification services that vet the digital identities of new customers — quickly, securely and compliantly.”

To learn more about Jumio and its award-winning end-to-end biometric identity verification solutions, please visit www.jumio.com 

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About Jumio

When identity matters, trust Jumio. Jumio’s mission is to make the internet a safer place by protecting the ecosystems of businesses through cutting-edge online identity verification and authentication services that quickly and accurately connect a person’s online and real-world identities. Jumio’s end-to-end identity verification solutions fight fraud, maintain compliance and onboard good customers faster.

Leveraging advanced technology including augmented intelligence, AI, biometrics, machine learning, certified 3D liveness detection and human review, Jumio helps organizations meet regulatory compliance including KYC, AML and GDPR and definitively establish the digital identity of their customers. Jumio has verified more than 170 million identities issued by over 200 countries and territories from real-time web and mobile transactions. Jumio’s solutions are used by leading companies in the financial services, sharing economy, digital currency, retail, travel and online gaming sectors. Based in Palo Alto, Jumio operates globally with offices in North America, Latin America, Europe and Asia Pacific and has been the recipient of numerous awards for innovation. For more information, please visit www.jumio.com

About Bank ABC

Bank ABC is a leading player in the region’s banking industry and provides global innovative Wholesale Banking coverage and products that include Corporate and Financial Institutions coverage, Transaction Banking (Trade Finance and Cash Management), Project and Structured finance, Syndications, Treasury and Financial Markets products and Islamic Banking. It also provides retail banking services through its network of retail banks in Jordan, Egypt, Tunisia and Algeria. Learn more at www.bank-abc.com 

*Source: AETOSWire

Contacts
Europe Media Contact
Gemma Lingham
FleishmanHillard Fishburn
gemma.lingham@fhflondon.co.uk 
+44-208-618-2812

U.S. Media Contact
Alex Mercurio
10Fold Communications
jumio@10fold.com 
949-940-5656

© Press Release 2019

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