Bank ABC Partners with Jumio to Become First Bank in the Middle East to Employ Biometric-Based Digital KYC Functionality

The company’s partnership with Jumio streamlines digital onboarding,
eliminating the need for customers to visit branch offices when creating
new banking accounts

LONDON–(BUSINESS WIRE)–Jumio,
the leading AI-powered
trusted identity as a service
provider, today announced a
partnership with Bank ABC, the MENA (Middle East and North Africa)
region’s leading international bank. The partnership enables Bank ABC’s
new mobile-only bank to compliantly onboard new individual customers
using Jumio’s biometric-based identity verification solution.

Based in Bahrain, Bank ABC currently serves customers on five
continents, covering countries in the Middle East, North Africa, Europe,
the Americas and Asia. Bank ABC plans to launch one of the region’s
first digital banks and has invested in establishing digitised
operations including a fully digital KYC capability. Simplifying and
streamlining the onboarding process is central to these efforts.
Traditionally, it takes consumers one to two weeks to create a new
account and requires them to visit a local branch in person to complete
the account set-up process.

“Bank ABC is committed to leveraging the benefits of AI technologies to
create seamless customer journeys for accessing banking services
securely,” said Sael Al Waary, Bank ABC’s Deputy Group Chief Executive
Officer.

Earlier this year at the 3rd Middle East and Africa FinTech
Forum, Al Waary said: “Across the region, banks and other financial
institutions are facing enormous disruption from technology. But change
should be embraced, not feared. Technology will revolutionize the way we
do business. More importantly, it will empower people across the region,
and be a force for true inclusion.”

“We’re proud to be the first bank in the Middle East to leverage
face-based biometrics to streamline the KYC and identity-proofing
processes,” said Yousif Almas, Group Chief Digital Officer at Bank ABC.
“As more and more customers move online and transact via their mobile
devices, it’s critical for Bank ABC to deliver a simple, fast and
intuitive onboarding experience that takes minutes, not hours or days.”

Bank ABC’s integration of Jumio’s Identity Verification enables the bank
to verify online customers by having them first capture a picture of
their government-issued ID with a smartphone and then take a selfie,
with certified liveness detection functionality. This process ensures
that the user is who they claim to be and physically present during the
transaction. As Bank ABC expands digital operations globally and in the
MENA region, Jumio will support such growth with its ability to verify
IDs digitally across geographies.

“Jumio is excited to partner with Bank ABC and help the company
revolutionize digital banking in the Middle East,” said Robert Prigge,
Jumio President. “We’re happy to contribute to their mission of
delivering a level of service that matches, or exceeds, the market
practice internationally by providing the leading-edge identity
verification services that vet the digital identities of new customers —
quickly, securely and compliantly.”

To learn more about Jumio and its award-winning end-to-end biometric
identity verification solutions, please visit www.jumio.com.

About Jumio

When identity matters, trust Jumio. Jumio’s mission is to make the
internet a safer place by protecting the ecosystems of businesses
through cutting-edge online identity verification and authentication
services that quickly and accurately connect a person’s online and
real-world identities. Jumio’s end-to-end identity verification
solutions fight fraud, maintain compliance and onboard good customers
faster.

Leveraging advanced technology including augmented intelligence, AI,
biometrics, machine learning, certified 3D liveness detection and human
review, Jumio helps organizations meet regulatory compliance including
KYC, AML and GDPR and definitively establish the digital identity of
their customers. Jumio has verified more than 170 million identities
issued by over 200 countries and territories from real-time web and
mobile transactions. Jumio’s solutions are used by leading companies in
the financial services, sharing economy, digital currency, retail,
travel and online gaming sectors. Based in Palo Alto, Jumio operates
globally with offices in North America, Latin America, Europe and Asia
Pacific and has been the recipient of numerous awards for innovation.
For more information, please visit www.jumio.com.

About Bank ABC

Bank ABC is a leading player in the region’s banking industry and
provides global innovative Wholesale Banking coverage and products that
include Corporate and Financial Institutions coverage, Transaction
Banking (Trade Finance and Cash Management), Project and Structured
finance, Syndications, Treasury and Financial Markets products and
Islamic Banking. It also provides retail banking services through its
network of retail banks in Jordan, Egypt, Tunisia and Algeria. Learn
more at www.bank-abc.com.

Contacts

Europe Media Contact
Gemma Lingham
FleishmanHillard
Fishburn
gemma.lingham@fhflondon.co.uk
+44-208-618-2812

U.S. Media Contact
Alex Mercurio
10Fold Communications
jumio@10fold.com
949-940-5656

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