Suits Me partners with Jumio

Through this collaboration, the two companies intend to help underbanked individuals in the UK apply for an account without requiring traditional banking documents. Suits Me is one of the first companies in the region to enable those without a photo ID or verified proof of address to open an account quickly.

According to officials, the partnership with Jumio aims to enable Suits Me to support more individuals who are underbanked. People who do not have access to the required documentation or do not want to incur the travel costs to visit a branch can apply online for an account with Suits Me. Moreover, Suits Me’s objective is to eliminate the challenges of opening an account and simplify the process with a range of accounts that fit customers’ needs. Individuals without photo ID can open an account with a selfie upload and an image of one proof of identification, including Benefits or HMRC letter, or other accepted documents. In addition to traditional bank account features, the company also provides cashback on everyday spending a personal account manager available in 19 languages.

Based in the US, Jumio leverages AI, biometrics, machine learning, and liveness detection to support companies in converting more customers, combat fraud from online ecosystems, and receive compliance with KYC and AML. In recent months, the company entered several partnerships and product launches, including the introduction of a new AI-driven fraud prevention technology that aims to identify fraud patterns more accurately. The Jumio 360° Fraud Analytics service was developed to check multiple data points across the company’s cross-industry network to identify patterns based on behavioural similarities and other indicators.

Moreover, at the beginning of October 2023, Jumio expanded its collaboration with NextWealth to support its commitment to leveraging technological innovation to eliminate complex online fraud and financial crime. The partnership also intended to help Jumio in scaling its AI-powered digital trust solutions.

In January 2023, GetGo partnered with Jumio to protect its fleet of 1,700 vehicles against theft by using the latter’s identity verification system. With Jumio’s Identity Verification solution, GetGo can ensure that individuals creating new accounts or requesting new vehicles are who they claim to be. The system performs identity verification based on a valid government-issued ID and a selfie. 

With its operations launched in 2015, Suits Me provides an e-account with a mobile app and a contactless Mastercard debit card with a cashback reward scheme when customers use their card in certain retailers. The company developed its solutions for unbanked customers who cannot open accounts at high street banks, due to being new in the UK, wanting to eliminate overdraft debt, or requiring other additional services. Suits Me’s are digitised so customers can manage their finances online or through the company’s mobile app, while also benefiting from a team of customer support agents that can assist via phone, email, live chat, or Facebook. 

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