Jumio, ComplyAdvantage partner for AML risk exposure cutting

Jumio customers will receive access to a global proprietary database of structured risk profiles, which cover sanctions, regulatory and enforcement watchlists, politically exposed persons (PEPs), and adverse media. New online customers are flagged when they are initially onboarded if their names are listed within any of these databases. The service offers proactive alerts and ongoing monitoring after the initial onboarding process. This aims to help financial organisations maintain compliance.

Jumio Screening facilitates the process with ID verification, and complete AML screening and monitoring. These are done within a single, automated solution. Through the integration of ComplyAdvantage’s automated watchlist/PEPs screening and monitoring into the Netverify dashboard, customers are given the ability to drill down into specific matches for compliance reviews. Jumio’s identity verification detail page will immediately alert its customer’s compliance team if there is a watchlist, PEPs, or adverse media hit.

The solution allows regulated businesses to take a more risk-based approach, with due diligence for higher-risk customers, and avoid re-screening existing users with real-time alerts and automated monitoring. Jumio Screening gives regulators and banking partners assurance that they’re complying with all regional AML and counter-terrorist financing requirements.