Philippines-based remittance services provider I-Remit has partnered with AI-powered identity as a service provider Jumio.
The move is aimed at streamlining digital onboarding as well as identifying impostors during eKYC processes.
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The Identity Verification solution of Jumio leverages machine learning, AI and face-based biometrics to authenticate a person carrying out a transaction. The technology assesses the credentials and user attributes against a live selfie taken with a government-issued ID.
The Jumio technology will allow I-Remit to verify customers across the globe with more than 3,000 ID document types.
I-Remit executive vice-president of international treasury Ron Benito said: “Jumio’s technology solves two of our most pressing problems — onboarding scalability and customer experience.
“Jumio saves us money and time, provides eKYC speed and precision, and the customer onboarding experience is superior.”
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By GlobalDataOn the other hand, the collaboration bolsters Jumio’s footprint in the Asia Pacific region.
Jumio Asia Pacific vice-president Frederic Ho said: “It’s imperative that the remittance industry, and the financial services world at large, streamlines the digital onboarding process for customers.
“Jumio is happy to partner with I-Remit in order to create an intuitive and secure digital experience for their global customer base, offering bank-grade security, dramatically faster verification and increased conversions.”
I-Remit allows Filipinos in the country and those residing overseas to transfer money. It is one of the largest Filipino-owned non-bank remittance service providers with more than 1,000 outlets in 23 countries and territories.
