Almost immediately after opening its new London office, Jumio has partnered with a UK-based client in the financial services industry.
Monzo is a new, mobile-focused current banking institution, having just received its full banking license from the UK’s Financial Conduct Authority and the Prudential Regulation Authority in April of this year. As such, it appears to be a good fit for Jumio and its Netverify Trusted Identity as a Service (TIaaS) platform, which leverages the cameras of smartphones and laptops to capture users’ facial biometrics, and to read official documents. The companies say that the facial recognition technology will be used to verify Monzo’s customers and thus help the company to comply with KYC requirements.
In a statement announcing the agreement, Monzo Head of Fraud Natasha Vernier said the partnership allows Monzo “to provide instant verification to ensure those using our bank enjoy the fast and secure service they expect in every other aspect of life.”
Coming so soon after Jumio opened its new office in London’s Shoreditch district, the new partnership bodes well for the company’s more expansive aspirations in Europe.