Jumio’s Netverify Speeds Up Account Verification Processes by Over 80 Per Cent for Optimal Payments’
- Mobile Banking
- 07.04.2015 01:00 am
Jumio, Inc., the fast growing online and mobile credentials management company, today announced that Optimal Payments, a leading global online payment solutions provider, has integrated Jumio’s Netverify® online and mobile ID document authentication service into its NETELLER® stored value service.
Jumio’s Netverify solution converts customers’ mobile device cameras or webcams into an ID scanning terminal, making it faster and easier to capture and verify ID and other credentials. Netverify, which is now integrated into Optimal Payments’ NETELLER stored value service, will help to improve the consumer experience and ensure continued compliance with anti-money laundering regulations.
The deal will enable consumers to make instant and secure payments online in a variety of sectors including entertainment, gaming, retail, financial services, travel and digital content using Jumio’s ID verification technology.
Jumio’s real-time ID document authentication has reduced NETELLER’s account verification process from an average of 12 hours to less than two hours. This eliminates over 10 hours of processing time per customer and accelerates the customer verification procedure by over 80 per cent.
Additionally, since integrating Netverify, NETELLER has been able to reduce by half the number of accounts where manual reviews or additional checks are needed. As a result, NETELLER is able to continue to comply with its “Know Your Customer” regulatory requirements while improving the customer experience.
Commenting on the deal Lorenzo Pellegrino, executive vice president of NETELLER, Optimal Payments said, “Our account verification process is now 80 per cent quicker, making it faster and easier for customers to pay online. Over three quarters of our account upgrades are now automatically processed through Jumio, saving hours of manual review time by our staff and benefiting our bottom line.”
“Credentials management technology like Jumio’s Netverify doesn’t just tick regulatory boxes but is also a differentiator to improve the customer journey. Security should not be synonymous with inconvenience and I am delighted that NETELLER is using Jumio to balance the twin challenges of security and convenience,” said David Pope, director of Marketing EMEA at Jumio.