Sokin, the new generation payments firm, has announced a partnership with Jumio to introduce the latest digital identity verification technology as part of its client onboarding process.
Sokin offers an easy to use fixed price subscription service for global payments which cuts out repeat and hidden costs, with transactions handled at some of the best market rates.
By integrating Jumio’s AI-powered identity verification, Sokin is able to validate online customers by having them first capture a picture of their government-issued ID with a smartphone, and then take a corroborating selfie with embedded certified liveness detection functionality. This process ensures that the customer is who they claim to be and physically present during new account onboarding.
Vroon Modgill, CEO at Sokin, commented: “We offer payment cards in over 75 countries and wallets in 150 countries so need to have fast and effective client identification as part of our detailed compliance processes. We want to be able to check and onboard everyone as quickly and efficiently as possible, so they can benefit from making payments or transferring money with Sokin. Jumio offers best-in-class technology which complements our systems, so we are very pleased that this partnership enables us to work together.”
Sokin allows users to make unlimited payments and transfers for one low monthly fee, starting at US$2.99. There is no mark-up on transactions and on average prices are 20% lower than other existing payment solutions. Fast and secure payments are made through Sokin's app covering a range of business and consumer clients.
“Jumio technology is now essential for all businesses where KYC and AML compliance is built into online customer onboarding and authentication,” said Jumio CEO Robert Prigge. “Our solutions are designed to help fintechs like Sokin develop and expand their services across different regulatory environments.”