Philippines-based remittance services provider I-Remit has partnered with AI-powered identity as a service provider Jumio.
The move is aimed at streamlining digital onboarding as well as identifying impostors during eKYC processes.
The Identity Verification solution of Jumio leverages machine learning, AI and face-based biometrics to authenticate a person carrying out a transaction. The technology assesses the credentials and user attributes against a live selfie taken with a government-issued ID.
The Jumio technology will allow I-Remit to verify customers across the globe with more than 3,000 ID document types.
I-Remit executive vice-president of international treasury Ron Benito said: “Jumio’s technology solves two of our most pressing problems — onboarding scalability and customer experience.
“Jumio saves us money and time, provides eKYC speed and precision, and the customer onboarding experience is superior.”
On the other hand, the collaboration bolsters Jumio’s footprint in the Asia Pacific region.
Jumio Asia Pacific vice-president Frederic Ho said: “It’s imperative that the remittance industry, and the financial services world at large, streamlines the digital onboarding process for customers.
“Jumio is happy to partner with I-Remit in order to create an intuitive and secure digital experience for their global customer base, offering bank-grade security, dramatically faster verification and increased conversions.”
I-Remit allows Filipinos in the country and those residing overseas to transfer money. It is one of the largest Filipino-owned non-bank remittance service providers with more than 1,000 outlets in 23 countries and territories.