Jumio, the leading provider of AI-powered end-to-end identity verification and authentication solutions, announced a partnership with Lanistar as the fintech challenger prepares to launch its new polymorphic debit card later this year, designed to help customers streamline their money via new technology and open banking.
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“We’re excited to work with Jumio as we know they truly believe in our product and that they only want to work with the best companies”
Founded in 2019 and based in Hammersmith, London, Lanistar aims to become a £1 billion fintech company and revolutionise how customers manage their money, with a focus on attracting customers aged 18-35 who seek aspirational and lifestyle brands to enrich their daily lives. Today’s banking customers expect an Uber-like experience with the ability to create online accounts in minutes, not days — anytime, anywhere. There is a direct correlation between a poor onboarding experience and lost conversions, with nearly 40% of potential new accounts sacrificed during onboarding because of time-consuming, clunky processes, according to Signicat.
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In choosing Jumio, Lanistar will be able to reliably and securely verify remote users while streamlining the onboarding process. Lanistar’s integration of Jumio ID Verification and Jumio Identity Verification will enable the challenger bank to verify online customers by having them first capture a picture of their government-issued ID with a smartphone and then take a corroborating selfie, with certified liveness detection functionality. This process ensures that the user is who they claim to be and physically present during the transaction. Lanistar will also use Jumio Document Verification during its onboarding process as a quick and easy way to verify customer information through identity documents and secondary documents captured on a smartphone.
“We’re excited to work with Jumio as we know they truly believe in our product and that they only want to work with the best companies,” said Gurhan Kiziloz, Lanistar CEO and founder. “Since we began talks of a partnership, they’ve been accommodating to our needs, ensuring they understood our requirements and could cater to them. We look forward to benefiting from their services.”
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