Jumio and ComplyAdvantage have teamed up to provide a new screening product aimed at banks called JumioScreening; the new product will use the AI based ID verification software from Jumio and combine it with the database checks from ComplyAdvantage; the new tool is meant to help banks better protect themselves against money laundering and potentially accepting money from a terrorist; Jumio’s tech uses licenses to compare selfies with government IDs, making it harder for a scammer to get through the checks; the new tool will allow provide ongoing scans of watchlists and will alert the bank of any changes. Source.
