Sokin to integrate Jumio’s AI identity verification for boosting customer onboarding

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New generation payments firm, Sokin entered into a partnership with Jumio in a bid to introduce the digital identity verification technology as part of its client onboarding process. The partnership will see Sokin integrate Jumio’s AI-powered identity verification for validating online customers through pictures of their government-issued ID as well as a selfie for liveness detection functionality.

Vroon Modgill, CEO at Sokin, commented, “We offer payment cards in over 75 countries, and wallets in 150 countries so need to have fast and effective client identification as part of our detailed compliance processes. We want to be able to check and onboard everyone as quickly and efficiently as possible, so they can benefit from making payments or transferring money with Sokin. Jumio offers best-in-class technology which complements our systems, so we are very pleased that this partnership enables us to work together.”

Sokin offers a fixed price subscription service for global payments which cuts out repeat and hidden costs, with transactions handled at some of the best market rates. It allows users to make unlimited payments and transfers for one low monthly fee, starting at US$2.99. It provides a subscription-based payment solution issuing cards in over 75 countries and wallets in over 150 countries and more than 35 different currencies.

“Jumio technology is now essential for all businesses where KYC and AML compliance is built into online customer onboarding and authentication,” said Jumio CEO Robert Prigge. “Our solutions are designed to help fintechs like Sokin develop and expand their services across different regulatory environments.”

Recently, Jumio announced a partnership with FinTech Lanistar in a bid to support the latter’s polymorphic debit card launch later in 2020. The partnership allows Lanistar to verify remote users during the onboarding process securely.