Challenger bank Monzo is one of UK’s digital banks, having a user base approaching 2 million. Jumio and Monzo’s collaboration will help Monzo meet KYC and AML compliance mandates, while minimising the time needed for manual reviews.
The digital bank decided to extend the relationship after considering and testing various KYC vendors at scale. The decision was based on Jumio meeting the established service level agreement (SLA), its overall verification accuracy, and the supporting user data that informs verification decisions.
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