Veriff verifies identity of Joompay users to help the company meet the KYC and AML requirements, while also preventing identity fraud. The company says the partnership adds an extra layer of safety and security. As a result of COVID-19 pandemic, cash usage has decreased significantly across the globe while the demands for digital banking are higher than ever. The Joompays app allows people to send and receive money from anyone in an easy and fun way. The highest fraud rates in the fintech sector are seen in Europe with Romania taking the lead, followed by the United Kingdom and Spain.
Source: https://www.helpnetsecurity.com/2021/03/24/veriff-joompay/