Cheshire-based fintech, Suits Me, has announced a new partnership with Jumio.
The move is targeting “underbanked” customers, who will be able to apply for a bank account online, without photo ID – such as a passport or driving licence.
Jumio provides automated, end-to-end identity verification, risk assessment and compliance solutions, using AI, biometric, machine learning and “liveness” detection to convert more customers and also prevent fraudsters.
“Our partnership with Jumio has enabled the business to help even more of those who are described as ‘underbanked’,” explained John Oakley, Operations Director at Knutsford-based Suits Me.
“These people who have struggled with documentation or simply don’t want to incur the travel costs to visit a branch can now apply in three minutes with Suits Me. Technology for us is an enabler for all. not just some of the UK population in the fintech space.”
According to research, 8m people in the UK and 78,768 Asylum Seekers have been prevented from applying for bank accounts because they don’t have photo ID.
“Suits Me is here to eliminate the hassle of opening an account and to simplify the process with a range of accounts to suit our customers,” continued Oakley.
“The time to open an account for those without photo ID is less than two minutes with a selfie upload and an image of one proof of identification, such as a Benefits or HMRC letter, or others that are accepted. We offer all the features that you would expect to find in a traditional bank account, as well as cashback on everyday spending and a personal account manager available in over 19 languages.”
