A Silicon Valley-based digital banking service is going to offer Jumio‘s mobile biometric authentication platform to its customers.
A subsidiary of GlobeOne, Meed is currently working with banking partners based in Vietnam to offer digital banking services to end customers, and is aiming to expand its platform to Mexico and the US in the coming year. It’s going to leverage Jumio’s Netverify platform for customer registration, with the solution using document reading and facial recognition through mobile cameras for biometric authentication.
The solution has seen an enthusiastic response over the last several months, particularly from the financial services sector, with Jumio having reported in its Q3 corporate update in October that sales were up 411 percent year-over-year.
In a statement announcing the partnership, Meed’s Chief Operating and Technology Officer, Stephen Landry, emphasized Netverify’s benefits in both improving the customer experience and ensuring KYC/AML compliance. “We looked at many providers, but found the Jumio solution to be superior based the quality of their global footprint and the sophistication and accuracy of their biometric-based identity verification,” he said.
In addition to its facial recognition-based document verification, Jumio’s solution also uses eyeball tracking for liveness detection, a security feature that was added to the platform this past summer.