Jumio, a Palo Alto, California-based Identity-as-a-service (IDaaS) provider, as per recent reports, has introduced a fully-automated AML (Anti-Money Laundering) solution, dubbed “Jumio Screening”, that leverages the ComplyAdvantage tech for screening and monitoring of automated watchlist and politically exposed persons (PEPs) to further streamline the compliance process.
Philipp Pointner, Chief product officer, Jumio, highlighting the role of sanctions lists in fighting money laundering, said: “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”.
Jumio’s Netverify platform now comes pre-embedded with ComplyAdvantage technology, making it possible to provide identity verification, sanctions, and adverse media screening, all from one location. Furthermore, the screening solution automatically flags out new onboarders, i.e new online customers whose name appears on any of the sanctioned lists during initial onboarding are flagged, and alerts are sent to compliance professionals who are then to conduct a granular in-detailed review of these new customers.
The California-based IDaaS provider leverages emerging technologies like artificial intelligence (AI), computer vision technology, machine learning, and live verification experts to authenticate ID documents and real-world identities, in mere seconds. Jumio claims it has so far verified over 170 million identities issued by more than 200 countries all around the world, with technology solution deployments in different multiple use cases ranging from onboarding customers to high-risk transaction monitoring.