Case Study: Solid achieves rapid AML compliance and quick launch with Jumio Transaction Monitoring

Solid Launches its Banking Platform with Rapid Deployment of Jumio Transaction Monitoring

Solid (formerly Wise) is a fintech that provides digital banking and integrated payments for small businesses, offering FDIC-insured checking accounts and Visa debit cards via partner BBVA and payments through Stripe. As a new neobank with limited AML experience, Solid needed to implement a full transaction monitoring program quickly to satisfy its sponsor bank’s anti-money-laundering requirements before going live.

Solid chose Jumio Transaction Monitoring — a cloud-based, unified AML platform with pre-built detection rules, machine-learning detection, intuitive integration and dedicated support — and worked with Jumio to tailor rules to its data. The solution went live in under a month, reduced false positives and investigative load through ongoing tuning, and enabled Solid to meet its compliance obligations and launch on schedule.

Solid

Arjun Thyagarajan

Chief Executive Officer