Jumio Screening flags online customers listed on global sanctions, politically exposed persons, watchlists and adverse media lists
Jumio, the leading AI-powered trusted identity as a service provider, today announces the launch of Jumio Screening. This is a fully automated anti-money laundering (AML) screening solution that integrates ComplyAdvantage, a dynamic real-time database of people and companies that pose financial crime risk.
The partnership will provide significant advantages for Jumio customers, giving them access to a global proprietary database of structured risk profiles covering enhanced sanctions, regulatory and enforcement watchlists, politically exposed persons (PEPs) and adverse media. This integration automatically flags any new online customers when they are initially onboarded (or enrolled) if their names are listed within any of these databases. The new service also delivers proactive alerts and ongoing monitoring after the initial onboarding process to help financial organisations maintain compliance. Flexible configuration options, search profiles and filters all help tailor the solution to each customer’s individual risk-configuration and help reduce false positives.
Jumio Screening streamlines the process with ID verification and complete AML screening and monitoring — all within a single, automated solution. Jumio has embedded ComplyAdvantage’s automated watchlist/PEPs screening and monitoring into its Netverify dashboard, giving customers the ability to drill down into specific matches for a streamlined compliance review. Customers can leverage a single dashboard for identity verification and watchlist, sanctions and adverse media screening. Jumio’s identity verification detail page will immediately alert its customer’s compliance team if there is a watchlist, PEPs or adverse media hit.
“As more and more companies onboard new customers remotely, it’s increasingly important for online businesses to flag individuals who appear on sanctions lists in order to help tackle money laundering and terrorist financing,” said Philipp Pointner, Jumio’s chief product officer. “This integration equips our clients with market-leading data and best-of-breed digital identity and screening technologies to make the right AML risk decisions with automated customer onboarding and ongoing monitoring.”
Jumio Screening enables regulated businesses to take a more risk-based approach with enhanced due diligence for higher-risk customers and avoid re-screening existing users with real-time alerts and automated monitoring. Jumio Screening also gives regulators and banking partners confidence that they’re complying with all regional AML and counter-terrorist financing requirements.
