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Nationwide and Jumio augment digital onboarding

Wednesday 2 February 2022 12:48 CET | News

Identity orchestration company Jumio has partnered with UK-based Nationwide Building Society to streamline digital onboarding for new participants.

One of Nationwide’s needs is the flexibility to open and manage accounts online without the use of a physical bank branch. The partnership with Jumio allows this, offering an online application process for customers.

Jumio’s API uses a proprietary mix of AI, machine learning, and other technologies to determine if an identity document is authentic and belongs to the user. Jumio seamlessly integrates with Nationwide’s existing workflows to determine, through an API call, if applicants are who they say they are and enables Nationwide to make an informed decision about the applicant based on a variety of fraud signals.

Jumio also verifies the age of Nationwide’s youngest members by extracting personal information, such as date of birth, from a variety of government-issued IDs, which can be used to calculate the current age of an applicant before facilitating them to open a youth account. Since integrating Jumio into its workflow, Nationwide has experienced more smooth and efficient KYC processes, resulting in higher conversion rates, according to the latter.


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Keywords: Jumio, partnership, digital onboarding, identity verification, artificial intelligence, API, KYC
Categories: Fraud & Financial Crime
Companies: Jumio, Nationwide Building Society
Countries: World
This article is part of category

Fraud & Financial Crime

Jumio

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Nationwide Building Society

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