Jumio solves BTG Pactual’s digital ID check challenge
Brazilian investment bank BTG Pactual has chosen AI identity-as-a-service provider Jumio to help overcome the challenges of digital onboarding, reports Jane Connolly.
Previously serving only high net worth and ultra-high net worth individuals, the bank recently expanded its services to people with a suggested $30,000 balance through BTG Pactual digital.
The digital investment platform faced onboarding problems due to Brazil’s notoriously non-standardised National ID System. Jumio overcame the ID verification challenge by accepting multiple types of government-issued IDs including passports, driver’s licences and ID cards.
“We have had a fast, friction-free onboarding process since Day One thanks to Jumio,” says Rogerio Harp, head of B2C and products for BTG Pactual digital. “Even though some users have tried to trick our onboarding process, with Jumio we are able to identify them before they can cause us any harm.”
Jumio continues to tap into the growing Latin American market, setting up a new sales office in Brazil and a Jumio SAS operations centre in Barranquilla, Colombia within the last year.
