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Jumio, Monzo Partnership Grows to New Heights

May 2, 2019

LONDON--(BUSINESS WIRE)--May 2, 2019--Jumio today announced a new multi-year agreement with Monzo, further strengthening a long-standing partnership of hypergrowth between the leading AI-powered trusted identity as a service provider and one of the UK’s top digital banks.

Jumio has been Monzo’s primary identity verification solution provider since 2017, and the two companies have worked since day one to offer an easy-to-use, intuitive mobile onboarding experience for Monzo’s customers — a user base that is nearing 2 million. This customer-centric focus resulted in a double-gold win for Jumio and Monzo at the UK Digital Awards 2018 in the “Financial Services: Best User Experience” and “Best Online User Experience B2C – Best Digital Customer Journey” categories.

Jumio helps Monzo meet strict Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance mandates, all while minimising the need for time-consuming manual review.

Monzo decided to strengthen its relationship with Jumio after considering and testing various KYC vendors at scale using a range of ID types and identity scenarios. They continued with Jumio based on a number of decision criteria, which included meeting the established service level agreement (SLA), overall verification accuracy and the supporting user data that informed the final verification decision.

This criteria, together with the overall customer onboarding experience and strong working relationship, reinforced the decision to build the partnership further.

“Digital transformation is imperative for emerging banks and fintechs seeking to keep up with the needs of consumers, which is why it’s so important to adopt an automated KYC process,” said Simon Winchester, Jumio’s vice president of EMEA sales. “We’re thrilled that Monzo continues to partner with us and trusts Jumio to execute this essential step while also creating a streamlined onboarding experience for their ever-growing number of new users.”

“As Monzo continues to grow and pursue new markets, we know that Jumio will scale with our business and continue to provide an essential service — helping Monzo create the best-possible experience for our banking customers while fighting financial crime,” said Natasha Vernier, Monzo’s head of financial crime.

To learn more about Jumio and its award-winning end-to-end identity verification and authentication solutions, visit jumio.com.

About Jumio

When identity matters, trust Jumio. Jumio’s mission is to make the internet a safer place by protecting the ecosystems of businesses through cutting-edge online identity verification and authentication services that quickly and accurately connect a person’s online and real-world identities. Jumio’s end-to-end identity verification solutions fight fraud, maintain compliance and onboard good customers faster.

Leveraging advanced technology including augmented intelligence, AI, biometrics, machine learning, certified 3D liveness detection and human review, Jumio helps organizations meet regulatory compliance including KYC, AML and GDPR and definitively establish the digital identity of their customers. Jumio has verified more than 170 million identities issued by over 200 countries and territories from real-time web and mobile transactions. Jumio’s solutions are used by leading companies in the financial services, sharing economy, digital currency, retail, travel and online gaming sectors. Based in Palo Alto, Jumio operates globally with offices in North America, Latin America, Europe and Asia Pacific and has been the recipient of numerous awards for innovation. For more information, please visit www.jumio.com.

About Monzo

At Monzo we’re building a new kind of bank. One that’s built for your smartphone and designed for the way we live today.

Founded in early 2015, our mission is to build the best bank account in the world. We now have nearly 2 million customers with hundreds of thousands more joining every month.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190501006050/en/

CONTACT: Europe Media Contact

Gemma Lingham

FleishmanHillard Fishburn

gemma.lingham@fhflondon.co.uk

+44-208-618-2812U.S. Media Contact

Jake Kasowski

10Fold Communications

jumio@10fold.com

(360) 635-8646

KEYWORD: UNITED KINGDOM EUROPE NORTH AMERICA CANADA IRELAND

INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT INTERNET SOFTWARE SECURITY PROFESSIONAL SERVICES BANKING FINANCE

SOURCE: Jumio

Copyright Business Wire 2019.

PUB: 05/02/2019 01:00 AM/DISC: 05/02/2019 01:00 AM

http://www.businesswire.com/news/home/20190501006050/en