Lanistar, a UK-based fintech set to launch a “polymorphic debit card” later this year, has partnered with Jumio for its onboarding.
California-based mobile payments and identity verification firm Jumio will help Lanistar verify users remotely.
Customers will submit a picture of their government-issued ID and a corroborating selfie with certified liveness detection. Jumio can also verify secondary documents, should a user need to submit them.
Jumio’s customers to date include Monzo, Middle East-based Bank ABC, Airbnb and easyJet.
The US fintech cites Signicat data, which suggests nearly 40% of potential new accounts go down the drain due to clunky onboarding.
Key takeaway:
Neobanks should be able to adopt remote KYC methods such as video KYC so that prospective customers are not frustrated while onboarding, which is very crucial that may impact the customer base.
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Lanistar partners with Jumio ahead of "polymorphic" debit card launch - FinTech Futures
Lanistar landed a $2.5 million seed investment in March.
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