Welcome!

Wearables Authors: Liz McMillan, Elizabeth White, Yeshim Deniz, Pat Romanski, Rostyslav Demush

News Feed Item

Jumio Unveils Netverify Mobile to Combat Growing Fraud on Smartphones

First-of-Its-Kind Mobile ID Scanning Technology Reduces Fraud, Time and Costs Associated With KYC and Identity Verification

PALO ALTO, CA -- (Marketwire) -- 02/21/13 -- Jumio, Inc., the online verification and mobile payments platform company, today announced the release of Netverify™ Mobile, the only technology available that allows businesses to authenticate their customers' identities -- via passport, driver license or ID card -- using iOS and Android smartphone cameras. With smartphone users one-third more likely to experience fraud than the general public(1), Netverify's real-time ID verification reduces the risk of fraudulent activity, while significantly speeding the confirmation process and reducing associated costs for vendors and online communities.

"With fraud becoming rampant on mobile, businesses need the tools to both know and help protect their customers, while also providing them a more convenient way to verify their identities," said Daniel Mattes, CEO and founder of Jumio. "Now businesses can move from taking days to verify a customer's identity to immediately authenticating a users' ID, transforming what has traditionally been a complex and costly process -- ID verification -- into an almost instantaneous transaction on both mobile and the Web."

A recent Gartner report estimates that fraud will account for 1.5 percent of all mobile transactions in the next four to five years.(2) Financial institutions, e-tailers and consumer marketplaces and other communities can now seamlessly integrate Jumio's ID verification technology into their iPhone and Android applications to confirm a customer's identity based on government issued IDs from more than 60 countries. Using their smartphone's camera, consumers scan an image of the front and back of their document to complete a registration or application process in seconds. Consumers enjoy the security of having no record of the scan or personal data stored on their mobile devices. Both the business and customer receive feedback if the ID is valid, thus allowing for the transaction to continue without delay.

"Establishing community trust and safety is a priority for us and that's why conducting background checks is a crucial part of our value proposition. Jumio's Netverify technology allows us to greatly streamline that process," said SideCar CFO and Head of Operations, Nick Allen. SideCar operates a peer-to-peer ride-sharing company with operations in San Francisco, Seattle, Los Angeles, Philadelphia and Austin. "Now, our mobile customers can sign up for ride-sharing and be approved in minutes -- inclusive of ID verification -- without having to endure processing times of hours or days as is the norm with standard ID verification processes."

Netverify is the easiest way to confirm a customer's identity in real time, reducing fraud and costs associated with reviewing low-quality copies of mailed or faxed documents and increasing overall conversions. The technology enables companies to meet their KYC (Know-Your-Customer) requirements and helps businesses develop a critical degree of trust with their customers. In addition, Netverify uses 256 bit encryption to transmit data, guaranteeing the highest level of security for sensitive transactions.

Netverify is also available for website implementations utilizing a built in or external webcam. Netverify Mobile scanning technology does not require any additional hardware and is easily implemented using the Netverify Mobile SDK. Netverify can be customized to fit the design of the app; businesses can easily configure settings for document requirements, pre-selecting the country or document type they'd like customers to provide or letting them select from a provided list of options. All customer records can be accessed and managed via a client portal provided as part of the Netverify offering.

To integrate Jumio's Netverify onto your iPhone or Android app, go to www.jumio.com and register to download the Software Development Kit and documentation. Contact [email protected] for further information and implementation details. To discuss partnerships with Jumio, please contact us at [email protected].

In conjunction with today's news, Jumio also released an infographic titled The Profile of a Cyber Criminal, which provides a look at international cyber fraud as well as tips for consumers on how to protect themselves.

About Jumio

Jumio® Inc. offers next generation online and mobile credit card payments validation and ID verification products for retailers, financial institutions and governmental agencies. Designed to increase revenue, reduce fraud, and streamline customer experiences, Jumio utilizes patent-pending computer vision technology to validate and facilitate transactions while providing unprecedented levels of consumer convenience and data security.

Jumio's Netswipe® enables customers to scan their cards in online and mobile checkout resulting in increased revenue and reduced fraud for the merchants. Netverify™ supports real-time ID verification in over 60 countries to help clients meet a variety of know-your-customer requirements. The company was founded in 2010 by CEO Daniel Mattes and is backed by top tier investors including Andreessen Horowitz, Citi Ventures and Facebook Co-Founder, Eduardo Saverin. Headquartered in Palo Alto, California Jumio operates globally with offices in the US, Europe and Asia.

(1) 2012 Identity Fraud Industry Report: Social Media and Mobile Forming the New Fraud Frontier, https://www.javelinstrategy.com/brochure/239, February 22, 2012

(2) Mobile Payments: A New Frontier for Criminals, http://www.businessweek.com/articles/2012-10-04/mobile-payments-a-new-frontier-for-criminals October 4, 2012

Press Contact:

Jenny Davis
Dotted Line Communications for Jumio
Email Contact
925-935-2558

Bettina Michael-Winters
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

IoT & Smart Cities Stories
The hierarchical architecture that distributes "compute" within the network specially at the edge can enable new services by harnessing emerging technologies. But Edge-Compute comes at increased cost that needs to be managed and potentially augmented by creative architecture solutions as there will always a catching-up with the capacity demands. Processing power in smartphones has enhanced YoY and there is increasingly spare compute capacity that can be potentially pooled. Uber has successfully ...
Chris Matthieu is the President & CEO of Computes, inc. He brings 30 years of experience in development and launches of disruptive technologies to create new market opportunities as well as enhance enterprise product portfolios with emerging technologies. His most recent venture was Octoblu, a cross-protocol Internet of Things (IoT) mesh network platform, acquired by Citrix. Prior to co-founding Octoblu, Chris was founder of Nodester, an open-source Node.JS PaaS which was acquired by AppFog and ...
The deluge of IoT sensor data collected from connected devices and the powerful AI required to make that data actionable are giving rise to a hybrid ecosystem in which cloud, on-prem and edge processes become interweaved. Attendees will learn how emerging composable infrastructure solutions deliver the adaptive architecture needed to manage this new data reality. Machine learning algorithms can better anticipate data storms and automate resources to support surges, including fully scalable GPU-c...
Predicting the future has never been more challenging - not because of the lack of data but because of the flood of ungoverned and risk laden information. Microsoft states that 2.5 exabytes of data are created every day. Expectations and reliance on data are being pushed to the limits, as demands around hybrid options continue to grow.
JETRO showcased Japan Digital Transformation Pavilion at SYS-CON's 21st International Cloud Expo® at the Santa Clara Convention Center in Santa Clara, CA. The Japan External Trade Organization (JETRO) is a non-profit organization that provides business support services to companies expanding to Japan. With the support of JETRO's dedicated staff, clients can incorporate their business; receive visa, immigration, and HR support; find dedicated office space; identify local government subsidies; get...
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, @CloudEXPO and DXWorldEXPO are two of the most important technology events of the year. Since its launch over eight years ago, @CloudEXPO and DXWorldEXPO have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors! In this blog post, we provide 7 tips on how, as part of our world-class faculty, you can deliver one of the most popular sessions at our events. But before reading...
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
If a machine can invent, does this mean the end of the patent system as we know it? The patent system, both in the US and Europe, allows companies to protect their inventions and helps foster innovation. However, Artificial Intelligence (AI) could be set to disrupt the patent system as we know it. This talk will examine how AI may change the patent landscape in the years to come. Furthermore, ways in which companies can best protect their AI related inventions will be examined from both a US and...
The challenges of aggregating data from consumer-oriented devices, such as wearable technologies and smart thermostats, are fairly well-understood. However, there are a new set of challenges for IoT devices that generate megabytes or gigabytes of data per second. Certainly, the infrastructure will have to change, as those volumes of data will likely overwhelm the available bandwidth for aggregating the data into a central repository. Ochandarena discusses a whole new way to think about your next...
Charles Araujo is an industry analyst, internationally recognized authority on the Digital Enterprise and author of The Quantum Age of IT: Why Everything You Know About IT is About to Change. As Principal Analyst with Intellyx, he writes, speaks and advises organizations on how to navigate through this time of disruption. He is also the founder of The Institute for Digital Transformation and a sought after keynote speaker. He has been a regular contributor to both InformationWeek and CIO Insight...