Novum Bank Limited Turns to Jumio for Fast and Secure On-Boarding
PALO ALTO, CA and LONDON, UNITED KINGDOM--(Marketwired - Oct 5, 2016) - Jumio, the leader in digital ID verification, today announced that Novum Bank Limited, an ambitious and fast growing Malta-based bank that offers loans and prepaid cards, is now using Jumio's Netverify® to enable a swift, secure and more diligent mobile on-boarding of customers within its key German market.
The bank holds a license from the Maltese Financial Services Authority, which allows them to passport into other countries, including Germany.
The German financial market is one of the most highly regulated in the World, especially regarding ID and verification. As a result, before taking out a Novum prepaid MasterCard®, customers would have to be verified via methods cumbersome to both the customer and Novum Bank Limited.
The Bank, which passports its Maltese licence via the freedom of services, decided to adopt a professional, reliable and secure system to verify their clients' identity. With the implementation of Jumio's Netverify, the process became quicker, more secure and in line with regulatory expectations.
Netverify allows customers to simply scan their IDs with a laptop or mobile device. The scans are then swiftly verified, with the whole process taking no more than two minutes.
Mark Wallace-Jones, Director and CFO , Novum Bank Limited, said: "The German market is one of our strongest, but it is also very highly regulated. So, for this reason, we wanted a solution that would be more supportive of the regulatory requirements, whilst also allowing for a swift and seamless sign-up process. Using Jumio's Netverify has been instrumental in addressing these challenges, and as a result we have seen a significant fall in fraudulent attempts to sign up for our prepaid MasterCard® cards."
Phillip Pointer, VP Products, Jumio, said: "Meeting anti-money laundering and know-your-customer regulations is challenging for financial services providers, especially when focused on online banking transactions. Yet, Netverify has again demonstrated that this need not be a challenge for banks or their customers. With Jumio's computer vision technology, compliance requirements can be met without compromise on either speed or safety."
About Novum Bank Limited
Novum Bank Limited is a credit institution that operates under, and applies, the European Union banking regulatory framework. The Bank is licensed and regulated by the Malta Financial Services Authority (MFSA) and is allowed to passport into all EU and EEA Members States.
The Bank's business is focused on Prepaid Cards/Stored Value and Lending.
Novum Bank Limited operates its lending business through its brand Cashper and is also a principal member authorised to issue any product under the MasterCard® brand. The Bank is positioned to offer a wide range of prepaid solutions for individuals looking for an alternative financial solution to traditional bank accounts and for businesses looking to expand their brand, create affinity and loyalty and improve their overall profitability.
Novum Bank Limited launched its Money2Go MasterCard® in Germany and in the Netherlands and, in addition, manages a number of programs for strategic partners. The Bank has the capability to issue either closed loop cards, with restricted use, or open loop cards, that are operative wherever the MasterCard® brand is accepted. Also, the Bank can issue prepaid cards as a traditional plastic card, for POS and ATM use, or as a virtual card, for e-commerce use only. Plastic cards can also be issued with the latest contactless technology.
Novum Bank Limited's mission is to provide innovative financial products, make them easily accessible and deliver those products and services in a simple and efficient manner, leveraging technology to achieve this. The Bank strives to be transparent in its product offerings, responsible in the way it operates and also ensures a high standard of security to safeguard its own and its customers' interest.
Jumio delivers the next-generation in digital ID verification, enabling businesses to reduce fraud and increase revenue while providing a fast, seamless customer experience. Jumio uses computer vision technology to verify credentials issued by over 200 countries in real time web and mobile transactions. Jumio's solutions are used by leading companies in the financial services, sharing economy, retail, travel and online gaming sectors. Based in Palo Alto, California, and Funded by Centana Growth Partners and Millennium Technology Value Partners, Jumio operates globally, with offices in the US and Europe, and has been the recipient of numerous awards for innovation.
For more information, please visit www.jumio.com .
Information om Marketwired
Følg pressemeddelelser fra Marketwired
Skrive dig op her og du vil løbende modtage pressemeddelelser på mail. Indtast din mail, klik på abonner og følg instruktionerne i den udsendte mail.
Flere pressemeddelelser fra Marketwired
Bombardier Inc.15.2.2018 12:39 | pressemeddelelse
Bombardier Reports Fourth Quarter and Full Year 2017 Results
Bombardier Inc.14.2.2018 17:21 | pressemeddelelse
REMINDER/Media Advisory: Bombardier to report Fourth Quarter and Full Year 2017 Financial Results on February 15, 2018
Bombardier Inc.8.2.2018 17:01 | pressemeddelelse
Media Advisory: Bombardier to report Fourth Quarter and Full Year 2017 Financial Results on February 15, 2018
Lifesize, Inc.6.2.2018 08:01 | pressemeddelelse
Lifesize Drives Relentless Innovation, Boosts Customer Satisfaction With New Integrations, Features and Updates
Librestream Technologies Inc.24.1.2018 17:01 | pressemeddelelse
Librestream Announces the Onsight Cube, First Multi-Purpose Industrial Wearable Designed for Remote Mentoring in Ex-Rated Environments
Silexica16.1.2018 14:31 | pressemeddelelse
Silexica partners with Fujitsu on next-generation base station projects
I vores nyhedsrum kan du læse alle vores pressemeddelelser, tilgå materiale i form af billeder og dokumenter, og finde vores kontaktoplysninger.Besøg vores nyhedsrum