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Backbase and Jumio Form Global Alliance for AI-Powered Identity Verification

Jumio’s online identity verification services enhance Backbase’s Open Banking Marketplace

PALO ALTO, Calif., July 11, 2018 -- Jumio, an AI-powered trusted identity as a service provider, today announced a partnership with Backbase, an omni-channel digital banking platform provider. Together, they will deliver online identity verification services that help financial service organizations optimize conversions, deter fraud and meet KYC, AML and GDPR compliance mandates within an intuitive digital banking experience.

Backbase helps financial institutions achieve digital transformation by providing digital experiences that boost engagement and ensure lasting client relationships. Financial institutions that have adopted the Backbase digital banking platform can enrich their solution with highly differentiating Fintech capabilities through the Open Banking Marketplace.

Now, customers on the Backbase digital banking platform can add Jumio’s online identity verification capabilities to enhance the onboarding experience. By integrating these AI-powered identity services, financial institutions can deliver a fast, compliant, and simple identity verification process within Backbase’s digital banking platform. In fact, Jumio and Backbase already share several common banking customers including HSBC and Metro Bank.

The partnership leverages the companies’ collective strengths and expertise in:

  • Reducing abandonment rates with a customer-first user experience
  • Building digital customer journeys that accelerate customer adoption
  • Developing digital solutions leveraging highly resilient and scalable technologies

“Backbase equips financial institutions with a one-stop shop to facilitate their digital transformation,” said Robert Prigge, Jumio’s Chief Revenue Officer. “This alliance enables Jumio to help these same banks with simple yet powerful identity verification and Know-Your-Customer solutions that can be easily leveraged through the Backbase digital banking platform to increase onboarding conversion rates, dramatically reduce fraud, and meet increasingly stringent compliance mandates.”

Existing and new Backbase clients can now capitalize on this alliance. Learn more here.