BankingBusiness

Bloom Money: Selects OCR Labs for digital ID verification

Bloom Money: Selects OCR Labs for digital ID verification

  • Bloom Money, a new app designed for diaspora communities to manage their finances
  • OCR Labs Global will support to onboard new customers using its fully-automated biometric verification
  • Building upon tried and tested ways of community money management currently used worldwide
  • The app provides a convenient and ethical rotating savings club for every community, whether it is known as contributions
  • According to Eurostat and the ONS, it is estimated that over 100m people will enter the UK and Europe by 2040
  • OCR Labs Global solves significant challenges, including identity fraud and regulatory compliance
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Laura M
Laura M
Laura is a financial reporter, editor, and researcher with a particular interest in fintech innovation, capital markets, and the evolving global banking landscape.

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