Plynk and Jumio team up for instant money messaging verification

Source: Jumio

Jumio, the creator of Netverify® Trusted Identity as a Service (TIaaS), today announced a partnership with Plynk, Europe’s first money messaging app, to accurately verify users who are loading money onto their Plynk accounts for instant person-to-person payments.

Plynk removes the complexity and awkwardness from money transfers between friends by integrating a payments account and a messaging platform so people can instantly send funds to other Plynk account-holders in the familiar setting of a messenger. Money can be sent either to a single individual or easily distributed through group chat applications, without the fees and delays that are associated with high street banks. Users simply register and receive a payment account, an IBAN and virtual Mastercard for online payments.

Jumio’s trusted Netverify solution will help Plynk deliver a hassle-free user experience by verifying frequent customers who are instantly loading money from their debit and credit cards to their Plynk payment account. The verification takes less than a minute and does not require users to leave the app. This convenient process is perfectly suited to Plynk’s target market of on-the-go, digital-first consumers.

A streamlined verification process is important for convenience-focused, mobile-only financial products such as Plynk, which must comply with Anti-Money Laundering (AML) legislation and Know Your Customer (KYC) requirements but, unlike brick and mortar licence-holders, cannot physically check customer identities in-person.

Netverify’s ability to process identity documents from over 200 countries will also help to promote scalable growth for Plynk as the app expands into the Spanish and Portuguese markets. Since launching in January 2017, Plynk has grown rapidly across Android and iOS within the Irish market, with plans to eventually become Europe’s dominant money messenger.

Robert Prigge, CRO, Jumio, said: ‘’As the market’s most reliable digital identity platform, with over 60 million identities verified at the highest accuracy rate, Jumio is delighted to partner with Plynk. Netverify is perfectly suited to the unique challenges of meeting KYC/AML compliance for digital-only organisations, and this partnership further consolidates our established credentials for trusted verification and a great user experience in the financial services industry.’’

Charles Dowd, CEO and Co-Founder, Plynk, said: ‘’In today’s fast-moving digital world, Plynk is leading the way in making the money transfer process as easy as sending a text or a photograph to friends. The speed, innovation and security of Jumio’s Netverify aligns perfectly with Plynk’s key values of being fast and fun. This, combined with Jumio’s excellent track record in helping highly reputable companies meet tight KYC and AML regulations, made Jumio a natural partner for us, and we look forward to working and growing together.’’

Netverify® Trusted Identity as a Service incorporates three core pillars: ID Verification, Identity Verification and Document Verification, and uses advanced technology such as AI, machine learning, eyeball tracking and Intelligent Process Automation to establish the real-world identity of the consumer.

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