Summary
This case study outlines how Panda Remit, an online remittance service, has improved its compliance and onboarding processes by implementing Jumio's identity verification technology. Founded in Hong Kong in 2018, Panda Remit operates in over 40 countries, providing a fast and secure platform for cross-border money transfers. The case study details the challenges faced by Panda Remit, including the need for a modern, automated eKYC solution to ensure compliance and enhance fraud detection. Jumio's technology automates ID document checks and selfie verification, significantly reducing manual review time and improving accuracy. As a result, onboarding time has decreased from several minutes to under one minute, leading to higher conversion rates. The compliance team's manual workload has been reduced by over 60%, allowing staff to focus on more complex investigations. The partnership with Jumio has also strengthened security measures against sophisticated fraud attempts, enhancing customer confidence and operational efficiency.
