CASE STUDY
What necessitated your decision to
implement the solutions?
Yousif Almas: Our aim is to have the best
first-time account opening process in the
region. Jumio’s technology is already trusted
and deployed by many traditional and
challenger banks, globally, such experience
that Jumio had was one of the factors that
made us decide to partner with them.
Importantly, we recognise that opening an
account is always the user’s first experience
of dealing with a bank, so it is therefore
very important that we do it right. By using
Jumio’s technology for our upcoming
mobile-only bank, we can ensure that a
customer’s first interaction is seamless
and easy. We will then look to implement
this technology into other business lines in
different geographies to extend this hassle-
free first-time account opening process.
How do your customers benefit from
the new system?
Yousif Almas: Customer experience
is an overused term and means many
different things to many different people.
To us, though, it’s about how we enable
our customers to live their lives and
carry out money matters with minimal
effort. Opening an account allows people
access to make or receive payments, start
JUMIO’S LIVENESS DETECTION
FUNCTIONALITY HAS A CHILLING
EFFECT ON FRAUDSTERS, SINCE MOST
OF THEM PREFER NOT TO HAVE THEIR
LIKENESS CAPTURED BY THE COMPANY
THEY’RE ATTEMPTING TO DEFRAUD.
saving or investing, and much more – by
making this an effortless process, we are
supporting people to build good money
management habits. What’s more, we’re
committed to improving financial inclusion
in the Middle East and creating an easier
account opening process is fundamental
to this. We’ll be looking to deploy Jumio’s
technology in regions where access to
branches is difficult, therefore, helping to
improve access to financial services.
How do Jumio’s end-to-end identity
verification solutions help fight fraud
and how secure are they?
Robert Prigge: Cybercriminals are
becoming increasingly savvy and mitigating
fraud risk is essential to the success of
any business. Unfortunately, traditional
methods of online identity verification
aren’t cutting it anymore and are vulnerable
to a multitude of attacks, including social
engineering, man-in-the-middle, phishing
and Dark Web-based exploits. Jumio’s
mission is to protect the ecosystems of our
customers by identifying the fraudulent
customers and ensuring that the good
customers have a positive online experience.
Jumio’s end-to-end online identity
verification solutions quickly and accurately
verify the authenticity of an ID, document
or real-world identity in seconds, not hours
or days. We use a unique hybrid approach
of Artificial Intelligence, biometric facial
recognition, Machine Learning, liveness
detection and computer vision technologies
to thwart online fraud and account takeover.
We’ve verified over 200 million digital
identities, which equips us with a significant
competitive advantage in training our AI
algorithms to more accurately identify and
detect fraud patterns. We also leverage
human verification experts who can detect
any fraud missed by the AI algorithms as well
as better train our algorithms on a daily basis.
With this approach, Jumio gives its
customers a definitive yes or no decision
about whether to accept or reject an online
verification transaction with the highest
accuracy rates in the industry. And this
definitive decision dramatically reduces the
manual review and customer abandonment
costs for our business customers. n
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INTELLIGENTCIO
www.intelligentcio.com