Gartner® Magic Quadrant™ for Identity Verification
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For established banks and up-and-coming digital banks, it’s become a business imperative to streamline the digital onboarding experience.
Identity Verification
Establish the genuine identity of new users by verifying their government-issued IDs and requiring a corroborating selfie — comparing the picture in the selfie to the picture on the ID to ensure the user is who they claim to be in real time.
Liveness Detection
Given the rise of spoofing (the act of using a photo, video or a different substitute for an authorized person’s face), Jumio employs state-of-the-art liveness detection to ensure that a new customer creating an online account is physically present.
Fraud Deterrence
Identity theft and account takeovers are on the rise. Just by requiring a valid government-issued ID and a corroborating selfie, Jumio’s solution deters fraudsters who generally prefer not to share their own photo with the financial institution they’re looking to defraud.
Ongoing Authentication
After legitimate customers have verified themselves online, biometric-based Jumio Authentication ensures all future logins and transactions are being performed by the original account owner.
"As Monzo continues to grow and pursue new markets, we know that Jumio will scale with our business and continue to provide an essential service — helping Monzo create the best-possible experience for our banking customers while fighting financial crime."
“We wanted a service that was simple to use and had robust security protocols. Jumio ticked all the boxes. Of critical importance was the ability to verify IDs from so many different territories. With one quarter of the population of Switzerland being born outside of the country, we didn’t want to disenfranchise 25% of our potential market. Thanks to Jumio, anyone can now use our service.”
“We have chosen Jumio because we wanted a fast, customer-centric solution that would offer a seamless and streamlined customer onboarding experience and ID verification, while meeting the KYC, AML and GDPR compliance requirements.”
