Nationwide integrates AI technology into banking platform to streamline security

Jumio, the London based provider of AI-powered end-to-end identity orchestration has partnered with Nationwide Building Society to streamline the digital onboarding process for new members.

While Nationwide’s story dates back to the 19th century, the world’s largest mutual building society aims to “constantly evolve to meet the needs of the communities it serves”.

One of these needs is the flexibility to open and manage accounts online without the use of a physical bank branch. Nationwide’s partnership with Jumio allows exactly this, offering a “fast, convenient” online application process for customers.

Jumio’s API uses a proprietary mix of AI, machine learning, and other advanced technologies to determine if an identity document is authentic and belongs to the user.

Jumio seamlessly integrates with Nationwide’s existing workflows to determine, through a simple API call, if applicants are who they say they are and allows Nationwide to make an informed decision about the applicant based on a variety of powerful fraud signals.

Jumio also verifies the age of Nationwide’s youngest members by extracting personal information, such as date of birth, from a wide variety of government-issued IDs, which can be used to calculate the current age of an applicant before allowing them to open a youth account.

Since integrating Jumio into its workflow, Nationwide has experienced more streamlined and efficient KYC processes, resulting in higher conversion rates.

Carlo Mascia, Nationwide delivery lead, commented: “With Jumio we’re able to provide an end-to-end digital process for the majority of our customers. The time it takes to open an account has been dramatically reduced, but the customer experience is the greatest win.”

Mark Reeves, Jumio’s VP of EMEA, added: “We are proud to partner with Nationwide as they help more than 15 million members save and prosper. By using Jumio’s AI-powered solutions, Nationwide is able to provide a seamless digital onboarding experience to customers of all ages.”

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