back Back

Suits Me and Jumio help underbanked customers open an account in minutes

By Gloria Methri

November 10, 2023

  • Alternative Banking
  • AML
  • Digital ID Veritfication
Share

Suits Me, Jumio FinTech, Digital Banking, Face-To-Face Service, Consumer Finance, Personal Finance, KYC, Financial Services, UKSuits Me has joined forces with Jumio to help the underbanked population in the UK apply for an account in minutes without traditional banking-required documents.

Suits Me, which is establishing itself as an alternative banking solution, is the first in the UK to enable those without a Photo ID or a verified proof of address to open an account quickly.

“Our partnership with Jumio has enabled the business to help even more of those who are described as ‘underbanked’.  These people who have struggled with documentation or simply don’t want to incur the travel costs to visit a branch can now apply in three minutes with Suits Me.  Technology for us is an enabler for all. not just some of the UK population in the fintech space,” said John Oakley, Operations Director at Suits Me.

Jumio uses the power of AI, biometrics, machine learning, and state-of-the-art liveness detection to help the rapid conversion of more customers, the prevention of fraudsters from infiltrating online ecosystems, and comply with KYC (Know Your Customer) and AML (Anti-Money Laundering) requirements.

Oakley added, “Suits Me is here to eliminate the hassle of opening an account and to simplify the process with a range of accounts to suit our customers. The time to open an account for those without photo ID is less than two minutes with a selfie upload and an image of one proof of identification, such as a Benefits or HMRC letter, or others that are accepted.  We offer all the features that you would expect to find in a traditional bank account, as well as cashback on everyday spending and a personal account manager available in over 19 languages.  We are a forward-thinking FinTech with traditional customer service values and invite anyone living in the UK to open an account in three minutes with no credit checks”.

Previous Article

November 10, 2023

PayGlocal gains in-principle approval from RBI for Payment Aggregator license

Read More
Next Article

November 10, 2023

FinTech Focus: Catch latest developments of the week

Read More






IBSi Daily News Analysis

Embedded Payments, Embedded Finance, Fintech News, Payments Technology, Mobile Payments, Digital Payments, Online Payments, Singapore Fintech News, APAC fintech listicle

July 11, 2024

Alternative Banking

Payment security market to reach $87.4bn by 2031 driven by digital payment adoption

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

July 11, 2024

RAKBANK to enhance banking operations with Microsoft AI

Read More

July 10, 2024

4 Neobanks redefining America’s banking infrastructure

Read More

July 10, 2024

Commercial Bank of Dubai signs partnership with Visa

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
Wealth Management & Private Banking Systems Report Q2 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024