Jumio teams up with Prometeo to introduce an identity validation system
In a significant move to enhance security and efficiency in digital verification, Jumio, a leading identity verification provider, and Prometeo, a fintech company offering an embedded banking platform, have joined forces to create a solution for identity authentication and bank account validation across Latin America.
The partnership, announced by Pilar Pereira, Jumio's Strategic Alliances Manager for Latin America, promises to set a new standard for digital verification in the region.
Founded in 2018, Prometeo is led by Roberto Gaudelli, its Commercial Director. Jumio, on the other hand, was established in 2010 and was acquired by Centana Venture Partners in 2016 for $850,000 after filing for bankruptcy.
The combined solution integrates Jumio's AI-powered identity verification technology with Prometeo's extensive banking network. This integration enables a single-step process for verifying both a user's identity and bank account ownership, thereby improving verification in Latin America.
Key components of the solution include a unified verification process, biometric verification, bank account validation, fraud prevention, and compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations.
The benefits for businesses are numerous. The partnership offers enhanced security and speed, operational efficiency, compliance with regulatory standards, and scalability suitable for businesses of all sizes.
According to Roberto Gaudelli, the alliance offers stronger bank account validation, redefining how fintechs and digital companies build fast and efficient onboarding processes. The integrated solution helps organizations verify a person's identity and bank account simultaneously, addressing real pain points like fraud prevention, compliance with local and global regulations, and scalability.
Prometeo's financial infrastructure allows businesses to integrate seamlessly with the financial system in Latin America and the US, while Jumio's identity verification platform provides advanced AI capabilities, data analytics, and user behavior interpretation.
The alliance between Prometeo and Jumio is designed to make digital onboarding smoother and more secure, offering a robust, intelligent solution designed to tackle one of the region's biggest challenges. Since its acquisition, Jumio has processed over one billion transactions from over 200 countries and territories.
[1] Source: Jumio Press Release [2] Source: Prometeo Press Release [3] Source: Finextra [4] Source: The Fintech Times
In the partnership between Jumio and Prometeo, the integration of Jumio's advanced AI-powered identity verification technology with Prometeo's extensive banking network aims to establish a new standard for digital verification in the business sector, specifically in Latin America. This combined solution offers numerous benefits for businesses, including enhanced security and speed, operational efficiency, compliance with regulatory standards, and scalability suitable for businesses of all sizes.
