Jumio Enters France’s Identity Verification Market to Deliver eKYC

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The COVID-19 pandemic has showcased the value of digital transformation for businesses and the digitisation of the new online account creation process

Jumio, the leading provider of AI-powered end-to-end identity verification and authentication solutions, today announced the launch of a French solutions portfolio and the appointment of Frederic Ly as its first sales leader for the region. This expansion comes at a time when COVID-19 is expediting digital transformation efforts around the globe.

“Our vision rests on the ability to provide a single sign-on, onboarding and KYC process that is quick and simple, yet still comprehensive enough to satisfy both regulatory and legacy banking requirements”

A June 15 report from Le Conseil National du Numérique offers insights on the future of identity management and verification in France. The report explains that while the French government aims to fully digitise all of its administrative processes by 2022, it is essential to build secure digital identity processes and facilitate people’s access to digital services. Today 92.4% of French people use the internet, and 59% use social networks, and the trend is increasing. Jumio’s answer is a biometric solution where your face is your password, and online identity verification is as easy as a selfie.

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Driven by legislation and consumer appetite for a fully digital online experience, identity verification — a key component to any digital transformation strategy — is high on the agenda for many French companies, as it offers strong competitive advantage and helps meet Know Your Customer (KYC), Anti-Money Laundering (AML) and Strong Customer Authentication (SCA) mandates.

Jumio’s new French portfolio of end-to-end identity verification solutions helps organisations fight fraud, maintain compliance and onboard customers faster, to quickly and reliably verify a user’s online identity and definitively answer if they are who they claim to be.

Based in Paris, Ly will spearhead the company’s regional expansion and build on Jumio’s long-standing commitment to serve financial service organisations, telcos and the sharing economy by establishing a French regional sales center to strategically serve those sectors, and deliver localised solutions to French-speaking markets.

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With a background in artificial intelligence and technology sales, Ly will focus on expanding the company’s client base, growing relationships with existing clients and cultivating a sustainable network of channel and technology partners. Ly has over 20 years of experience building sales strategies and growth for local and international technology companies including AI software company Collective Thinking and digital services provider Econocom.

“We are really excited to grow the team in France in order to better serve the needs of our local customers and partners,” said Dean Hickman-Smith, Jumio chief revenue officer. “Most industries have been swept up in the whirlwind of digital transformation, recently accelerated by the COVID-19 pandemic. And customer expectations are driving many of these changes — they want to be able to open a new account anytime, anywhere and in a matter of minutes. Jumio’s technology offers tremendous opportunities to optimise and expedite the process.”

Jumio’s customer base already includes well-known European brands such as Monzo, HSBC and Easyjet, and the company is well positioned to serve industries where KYC and AML compliance must be built into remote customer onboarding and authentication processes.

“Our vision rests on the ability to provide a single sign-on, onboarding and KYC process that is quick and simple, yet still comprehensive enough to satisfy both regulatory and legacy banking requirements,” explains Simon-Pierre de La Seigliere, Paris-based director and co-founder at BOFIN, a global technology company that has created the world’s first marketplace for financial products and services.

“By implementing Jumio, Bofin has been able to offer its customers an enhanced user experience, with a high percentage of instant verifications coming through in just 30 to 60 seconds, and speedy manual verifications where further reviews may be required,” de La Seigliere said. “This has greatly reduced abandoned sign-ups, and allowed us to have one of the quickest and smoothest onboarding processes in the industry, reducing customer frustration and providing great user journeys.”

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