Jumio, an artificial intelligence (AI) driven digital identity startup is launching a video selfie-enabled authentication tool for banks and other businesses.

Jumio Authentication allows customers to record a video of themselves to prove they are the account holder and verify high-risk transactions, restore forgotten passwords and unlock rental cars, in a secure method that replaces manual passwords and guards against online fraud.

Biometric video authentication can be used to facilitate financial transactions when logging on from a foreign IP address, or authorising high-risk transactions such as wire transfers and online purchases.

It can also be used for self-check-in at hotels, e-learning tests and continuous security, for example re-verifying the identity of ride-sharing drivers on a frequent basis.

Stephen Stuut, chief executive of Jumio, said: “As more of our important interactions move online, establishing trust digitally has become critical.”

He added that the business was looking to “leverage biometric user data captured during enrolment and re-verify that data in the future", adding: "With our new selfie-based authentication, users are not required to repeat the identity proofing process again - they just take a quick selfie - and as the digital chain of trust grows, so does the security level.”

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