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Jumio Unveils Automated AML Screening Solution

Courtesy of an integration with ComplyAdvantage, trusted identity as a service innovator Jumio is launching a new, fully-automated AML solution, Jumio Screening. The new solution leverages ComplyAdvantage’s automated watchlist and politically exposed persons (PEPs) screening and monitoring to streamline the compliance process.

Chief Product Officer for Jumio Philipp Pointner highlighted the role of sanctions lists in helping fight financial crime such as money laundering. “This integration equips our clients with market-leading data and best-of-breed digital identity and screening technologies to make the right AML risk decisions with automated customer onboarding and ongoing monitoring,” Pointner said.

ComplyAdvantage’s technology is integrated into the dashboard of Jumio’s Netverify platform, making identity verification, sanctions and adverse media screening available from one location. The screening solution automatically flags new online customers during initial onboarding if their name appears on any of the sanctioned lists, and alerts compliance professionals who can conduct a more detailed review.

Jumio’s technology leverages AI, computer vision technology, machine learning, and live verification experts to verify the authenticity of ID documents and real-world identities, as well as provide authentication, in seconds. The company has verified more than 170 million identities issued by 200+ countries, and its solutions have been deployed in use cases ranging from customer onboarding to high-risk transaction monitoring.

Founded in 2010, Jumio demonstrated its Netverify platform at FinovateAsia last fall. Earlier this month, the company announced the latest stage in its expansion in Latin America: the opening of a sales office in Brazil. Jumio was recognized recently with top honors in the compliance, biometrics, and fraud prevention categories at the 2019 InfoSec Awards, and began the year winning a 2019 Innovation Award from the Business Intelligence Group. The company is headquartered in Palo Alto, California.