Loot enables rapid on-boarding with new verification technology
7th October 2015
Loot, the Level39 member that delivers a banking service created especially for students, is enabling super-quick verification of documents by just scanning them on a smartphone camera.
Using Jumio’s Netverify technology Loot is able to on-board students from over 130 countries simply by having them scan their government-issued ID, such as passports and driving licenses, using the camera on their mobile devices.
Students who need access to banking facilities, including smart-money management, all through a prepaid card, can now get up-and-running quickly – especially useful for the large numbers of foreign students for whom gaining access to banking facilities can be a challenge.
The company, founded by 22-year-old Ollie Purdue, also recently released their mobile app, enabling students to manage their money from anywhere.