The goal of this commitment is to serve fintechs, financial service organisations, and sharing economy companies of all sizes, establishing a LATAM regional sales center to strategically serve those sectors. The company will focus on expanding its client base, growing relationships with existing clients, and cultivating a sustainable channel network. Moreover, Jumio’s end-to-end verification solutions will reshape the region’s traditional banking landscape.

This regional expansion began in August 2018, when Jumio SAS started operations in Colombia to help verify the government-issued IDs and identities of Jumio’s global customer base. Now, the company aims to serve both the fintechs and established banks who are mandated to provide KYC and AML-compliant identity verification services to people in Latin America.

Besides financial services, the launch of Jumio’s LATAM hub could provide businesses and the partners who serve them with the opportunity to minimise the risk of identity fraud, account takeover, tax evasion, corruption, and terrorism financing.