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JUMIO LAUNCHES ID SCANNING PRODUCT FASTFILL TO SPEED MOBILE CUSTOMERS THROUGH IN-APP SIGN-UP AND CHECKOUT FORMS

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JUMIO LAUNCHES ID SCANNING PRODUCT FASTFILL TO SPEED MOBILE CUSTOMERS THROUGH IN-APP SIGN-UP AND CHECKOUT FORMS 1

 

In-App ID Scanning Technology Automates Extraction of Personal Information From Customer ID Documents and Near-Instant Forms Population

 FinovateEurope 2014 –  Jumio, Inc., – Jumio, Inc., the fast-growing online and mobile payments and credentials management company, today announced the availability of Jumio Fastfill, a quickly-integrated service that automates key entry of personal customer information in mobile apps, providing a faster and more convenient way for consumers to open accounts, complete web registration forms, and remove friction from the check-out process.

Jumio Launches Id Scanning Product Fastfill To Speed Mobile Customers Through In-App Sign-Up And Checkout Forms

Jumio Launches Id Scanning Product Fastfill To Speed Mobile Customers Through In-App Sign-Up And Checkout Forms

Fastfill provides value to any business with a mobile app and a process that requires the customer to provide personal data in order to establish a relationship or transaction. Through its patented use of computer vision technology, Jumio offers on-the-go customers a faster and more convenient way to complete a sign-up or checkout. With Jumio’s technology embedded, businesses such as financial services providers, retailers, travel-related services, among others, have dramatically improved their transaction completion rates, while creating a differentiated and superior user experience in their apps.

Today, many businesses waste significant resources attracting prospects to their mobile apps only to have them abandon the sign-up process because it was never properly designed for the mobile customer and the small screen. As a result, more customers balk at spending more than 60 seconds key entering their personal data into a form than those who comply, and this is reflected in lower than desired conversion rates. With Fastfill, customers simply tap the “Scan ID” button seamlessly integrated into a business’ mobile app, hold their ID up to the device camera, and their personal data is extracted from the ID credential and populated into the new account form in an instant. Those customers wishing to engage in traditional data entry may utilise that standard functionality instead.

“Consumer behaviour on mobile devices is maturing and now its commonplace for us to apply for loans, and open a bank or brokerage account on our phones – indeed more than a third (37%) of Europeans are already using mobile banking.[1] However, latest research shows that nearly half (45%) of UK adults have abandoned all online transactions (including account opening) due to frustration over the length and complexity of the identity validation and security checks. [2] Today though leading businesses are recognising that they can create superior customer experiences and complete more transactions by leveraging the power of the smart devices we carry,” said Daniel Mattes, founder and CEO Jumio. “Businesses have a choice; they can stick with traditional methods and subject their customers to minutes of data entry on a small keypad – and potentially lose them in the process – or delight them in seconds.”

Fastfill features include:

Worldwide coverage: Fastfill extracts personal information from three types of ID credentials (passports, licenses or other government IDs) issued by over 100 countries.

Easy Integration: Jumio’s Mobile SDK is easily implemented and typically requires only an hour of developer time.  Few app enhancements can improve your bottom line to this extent with such minimal effort.

Secure standards: A picture of the customer’s ID is never taken, nor is it ever stored on their mobile device. Jumio is PCI Level 1 compliant and applies this stringent payment industry security standard to personal data.

Fast transactions: Most Fastfill transactions are near-instant. For certain types of IDs that do not contain bar or MRZ codes, Fastfill takes only several seconds to extract the customer data to auto populate the form.

Customisable and comprehensive: The “Scan Now” button can be customised to match any app’s look and feel, and be embedded at any point in the business process. In most cases, Fastfill extracts the full data set contained on the ID and the app owner selects the fields that are applicable to its business process as part of the configuration process.

Cross platform: Fastfill is available for iOS and Android apps, and can be integrated into both smartphone and tablet applications.

About Jumio

Utilizing advanced computer vision technology, Jumio is a next generation credentials management company offering payments and ID scanning & validation products for mobile and web transactions. Designed to reduce fraud and increase revenue by minimizing friction in customer transactions, Jumio’s products integrate easily into mobile apps or websites and create great customer experiences. Jumio’s products are widely used by leading retailers, marketplaces and financial institutions.

Jumio’s recently unveiled PORT, a secure device-based wallet infrastructure, allows consumers to conduct one-click purchases and transactions requiring identity verification, without the need to download a standalone wallet app. Netswipe® enables customers to scan their cards in online and mobile checkout resulting in increased revenue and reduced fraud for the merchants. Netverify® supports real-time ID verification in over 90 countries to help clients meet a variety of know-your customer requirements.

The company was founded in 2010 by CEO Daniel Mattes and is backed by top tier investors including Andreessen Horowitz, Citi Ventures and Facebook Co-Founder, Eduardo Saverin. Headquartered in Palo Alto, California Jumio operates globally with offices in the US, Europe and Asia.

[1] http://www.ing.com/Our-Company/Press-room/Press-release-archive/PressRelease/European-consumers-empowered-by-mobile-banking-1.html

 [2] http://www.experian.co.uk/blogs/latest-thinking/2013/09/nearly-half-of-uk-adults-abandon-online-transactions/

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Bitcoin, ether hit fresh highs

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Bitcoin, ether hit fresh highs 2

SINGAPORE (Reuters) – Bitcoin hit a fresh high in Asian trading on Saturday, extending a two-month rally that saw its market capitalisation cross $1 trillion a day earlier.

The world’s most popular cryptocurrency rose to an record $56,620, taking its weekly gain to 18%. It has surged more than 92% this year.

Bitcoin’s gains have been fuelled by evidence it is gaining acceptance among mainstream investors and companies, such as Tesla Inc, Mastercard Inc and BNY Mellon.

Ether, the second-largest cryptocurrency by market capitalization and daily volume, hit a record $2,040.62, for a weekly gain of about 12%.

Ether is the digital currency or token that facilitates transactions on the ethereum blockchain. In the crypto world, the terms ether and ethereum have become interchangeable.

Ether futures contracts launched on derivatives exchange CME earlier this month.

(Reporting by Vidya Ranganathan; Editing by William Mallard)

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World Bank pushing for standard vaccine contracts, more disclosure from makers

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World Bank pushing for standard vaccine contracts, more disclosure from makers 3

By Andrea Shalal

WASHINGTON (Reuters) – The World Bank is working to standardize COVID-19 vaccine contracts that countries are signing with drug makers, and is pushing manufacturers to be more open about where doses are headed, as it races to get more vaccines to poor countries, the bank’s president said on Friday.

World Bank President David Malpass told Reuters he expected the bank’s board to have approved $1.6 billion in vaccine funding for 12 countries, including the Philippines, Bangladesh, Tunisia and Ethiopia, by the end of March, with 30 more to follow shortly thereafter.

The bank is working with local governments to identify and fill gaps in distribution capacity, after they purchase vaccines under a $12 billion World Bank program, and also to standardize the contracts they are signing with manufacturers, he said.

The bank’s International Finance Corp, its private financing arm, has $4 billion to invest in expanding existing production plants or building new ones, including in developed countries, but needs more data on where current production is headed, he said.

“We are eager to be investing in new capacity, but it’s hard to do because you don’t know how much of the existing capacity is already committed to the various off-takers,” Malpass said in an interview with Reuters. New or expanded plants could be used to produce other types of vaccinations in the future, he said.

The bank’s funds could be used to expand plants in advanced economies, if the production was earmarked for developing nations, he said.

Malpass welcomed Friday’s pledge by the Group of Seven rich countries to intensify cooperation on the pandemic, saying it could help jump-start deliveries of vaccines to poorer countries, which are lagging far behind rich countries in getting shots in arms.

Data compiled by Our World In Data, a scientific online publication, showed Israel was leading the world in COVID-19 vaccinations, with nearly 82 of 100 people vaccinated, while India and Bangladesh reported less than one person per 100, Many African countries have not started at all.

Malpass said he was heartened by news about new vaccines coming down the road, and about Pfizer Inc and BioNTech SE seeking permission to store their vaccine at higher temperatures, which would ease another obstacle to deliveries in lower-income countries.

(Reporting by Andrea Shalal; Editing by Heather Timmons and Leslie Adler)

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Google to evaluate executive performance on diversity, inclusion

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Google to evaluate executive performance on diversity, inclusion 4

By Paresh Dave

(Reuters) – Alphabet Inc’s Google will evaluate the performance of its vice presidents and above on team diversity and inclusion starting this year, the company said on Friday in one of several responses to concerns about its treatment of a Black scientist.

Timnit Gebru, co-leader of Google’s ethical artificial intelligence research team, said in December that Google abruptly fired her after she criticized its diversity efforts and threatened to resign.

Alphabet and Google Chief Executive Sundar Pichai ordered a review of the situation. While Google declined to share specific findings, the company announced on Friday it will engage human resources specialists during sensitive employee departures.

Pichai in June said that by 2025, Google aims to have 30% more of its leaders come from underrepresented groups, with a focus on Black, Latinx and Native American leaders in the United States and female technical leaders globally. About 96% of Google’s U.S. leaders at the time were white or Asian, and 73% globally were men.

As a result of the investigation, the company also expanded a commitment announced in June to devote more resources to retaining and promoting existing employees, including by expanding a team addressing disputes among workers and their managers.

The diversity component of executive performance reviews was not previously announced, and the company did not immediately share details about what would be measured and how pay would be affected.

Alphabet for years had rejected proposals from shareholders and employees to set diversity goals and tie executive pay to them.

Irene Knapp, a former Google employee who advocated for one such proposal at a 2018 shareholder meeting, said on Friday, “I am pleased that they met our demand from 2018, which was a bare minimum that should have been easy to do immediately.”

Evaluating managers on diversity goals is becoming more commonplace. McDonald’s Corp on Thursday tied executive bonuses to diversity.

(Reporting by Paresh Dave; Editing by Cynthia Osterman)

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