British building society Nationwide has partnered with ID verification business Jumio.
In Brief:
This will improve its online account opening process.
Jumio offers an API with end-to-end identity proving, KYC and AML solutions.
Nationwide will use the tools for age and identity verification of new customers and it will form part of a wider onboarding process.
What does this mean?
Nationwide says integrating these KYC processes with the help of Jumio has helped with its conversion rates because the process is now faster with an improved customer experience.
