Global online payment solutions provider Optimal Payments has incorporated Jumio’s Netverify solution into its NETELLER stored value service—a move that will enhance consumer experience and ensure continued compliance with anti-money laundering regulations.
Jumio’s online and mobile ID document authentication service works by converting consumers’ mobile device cameras or webcams into an ID scanning terminal. This makes it faster and easier to capture and verify ID and other credentials.
With Netverify’s integration into the NETELLER, consumers are able to make fast and secure payments online in various sectors such as financial services, retail, travel, entertainment, gaming, and digital content.
Jumio’s real-time ID document authentication has reduced NETELLER’s account verification process from an average of 12 hours to less than two hours. The integration has sped up customer verification procedure by more than 80 percent.
Jumio’s Netverify solution has also cut the number of accounts that require manual reviews or additional checks by 50 percent. This allows NETELLER to continue its compliance with its “Know Your Customer” regulatory requirements and improve customer experience.
Lorenzo Pellegrino, executive vice president of NETELLER, said: “Our account verification process is now 80 per cent quicker, making it faster and easier for customers to pay online. Over three quarters of our account upgrades are now automatically processed through Jumio, saving hours of manual review time by our staff and benefiting our bottom line.”