Bloom Money is a FinTech app aimed at diaspora communities to manage their finances.
In Brief:
Bloom will launch within the next few months.
It has a community-led approach, building on ways that communities are currently managing their money around the world, such as savings clubs.
OCR Labs Global has been selected as the vendor for digital ID verification.
What does this mean?
OCR Labs Global will support onboarding for Bloom Money customers, with the aim to ensure the process is transparent and builds trust with users. It will use fully-automated biometric verification, document verification and reauthentication technologies. With Bloom Money aiming to cater for customers from all over the world who live in the UK, it was important to have an onboarding process that works for everyone.
“OCR Labs Global is the only vendor who could accurately recognise people of different ethnicities and do liveness verification,” said Co-Founder Nina Mohanty.
