Jumio will leverage LatticeFlow AI’s AI platform to enhance the safety and robustness of the Jumio Platform.
The Jumio Platform delivers automated, AI-driven identity verification, risk signals and compliance solutions, while LatticeFlow enables trustworthy AI systems, the companies said in a Thursday (Nov. 7) press release.
The LatticeFlow AI Vision solution will validate model performance and reliability, with its computer vision capabilities helping Jumio improve model fairness, reduce fraud and meet emerging regulatory requirements, including those of the European Union’s (EU) Artificial Intelligence Act, according to the release.
“By partnering with LatticeFlow AI, we’re taking a proactive approach to identifying potential risks and enhancing the security of our AI models,” Alix Melchy, vice president of AI at Jumio, said in the release. “This partnership is not just about improving performance — it’s about staying ahead of industry regulations and ensuring compliance with emerging AI standards.”
Tom Ulrich, senior vice president and general manager of North America at LatticeFlow AI, said in the release: “Our collaboration enables Jumio to accelerate AI innovation, while ensuring compliance with upcoming regulations like the EU AI Act.”
The EU’s AI Act came into force Aug. 1, establishing the world’s first comprehensive regulatory framework for AI and setting new compliance standards for businesses worldwide, PYMNTS reported at the time.
The AI Act includes stringent regulations in areas such as cybersecurity resilience and the prevention of discriminatory outputs. Companies that fail to meet the requirements of the AI Act could face fines of up to €35 million ($38 million) or 7% of their global turnover.
It was reported in October that a new compliance testing framework developed by LatticeFlow AI revealed potential vulnerabilities in AI models, including some in critical areas like cybersecurity and bias prevention that could expose tech giants to substantial penalties under EU regulatory requirements.
The findings come at a critical time as the EU works to establish enforcement guidelines for its AI regulations by spring 2025. The LatticeFlow framework, welcomed by EU officials as a “first step” in implementing the new laws, offers companies a roadmap for compliance while highlighting the challenges ahead in aligning AI development with regulatory demands.
We get a lot of press releases here at PYMNTS. We consider all of them, and some are more newsworthy than others. But this one really got our attention. This past week, Diebold Nixdorf made headlines with its announcement of successfully installing two new automated teller machines (ATMs) at the U.S. National Science Foundation’s McMurdo Station in Antarctica. This achievement marks a significant milestone in banking accessibility, to be sure. We would like to meet the crew that installed them. We’d also like to know why they needed two. Was there a line at the first one? More to come on that.
According to Diebold, McMurdo Station is Antarctica’s largest research and logistics hub, supporting a fluctuating population that ranges from fewer than 200 residents during the winter months to up to 1,100 individuals during the summer (October through February). The presence of these ATMs is crucial, it says, as the next closest banking facilities are thousands of miles away, making them the only ATMs on the entire continent. How’s that for a value proposition?
The DN Series ATMs are designed for always-on availability. And why do they need two? One ATM is actively in use, while the second serves as a backup for spare parts, ensuring uninterrupted service in this isolated area. These machines are connected to the DN AllConnect Data Engine, which leverages Internet of Things (IoT) connectivity, machine learning, and artificial intelligence (AI) to monitor their performance. A dedicated team continuously aggregates and analyzes technical data to identify potential issues, enabling remote diagnostics and repairs. The ATM can be maintained by trained staff at NSF McMurdo Station, or the Diebold Nixdorf service team can remotely guide them through the repair process.
Anyway, it got us thinking. Are there other surprising ATMs in extreme locations? Well, of course, there are. Here’s a sampling of what we found.
At an altitude of about 5,364 meters (17,600 feet), the Mount Everest Base Camp in Nepal is another unexpected place to find an ATM. Although it’s not a permanent fixture and is often set up seasonally, it caters to climbers and trekkers who need cash for local transactions. This temporary ATM service underscores the adaptability of banking services in extreme environments.
In some parts of the Amazon rainforest, particularly in Brazil and Peru, ATMs can be found in small villages and towns. These machines are vital for local communities, providing access to cash in areas where digital payment options might be limited. The presence of ATMs here demonstrates how banking services can reach even the most remote communities.
Located in the Tibet Autonomous Region, Nagqu is home to one of the highest ATMs in the world. This region is very remote, with limited infrastructure, making the presence of an ATM a notable example of banking accessibility in extreme environments.
In the Thousand Islands (Kepulauan Seribu) off the coast of Jakarta, Indonesia, there’s a floating ATM. This unique ATM serves the local community and tourists on the islands, demonstrating how banking services can adapt to isolated marine environments.
Longyearbyen, the administrative center of the Svalbard archipelago in Norway, boasts the most northerly ATM. This location is one of the most remote inhabited places on Earth, with limited access to mainland Norway, making the ATM a vital service for residents and visitors.
On a more serious note, the installation of ATMs in places like Antarctica and other remote locations highlights the evolving nature of banking technology. With advancements in IoT, AI and remote diagnostics, it’s becoming increasingly feasible to provide banking services in areas previously considered inaccessible. As we look to the future, it will be interesting to see where else ATMs might appear. Whether it’s on a remote island, at the top of a mountain or even in space, the ability to access cash is becoming more universal than ever. And who knows? Maybe one day, we’ll see an ATM on Mars, serving the first interplanetary travelers.
For now, the presence of ATMs in unexpected places reminds us that banking is not just about transactions; it’s about connecting people and communities across the globe, no matter how remote they might be.
