ONE JN Passport set revolutionise banking access

The JN Financial Group is gearing up to boost financial inclusion with its new ONE JN Passport. With a significant portion of Jamaicans still unbanked or underbanked, the ONE JN Passport aims to change the game.

The Bank of Jamaica's (BOJ) National Financial Inclusion-Demand Side Study Final Report, published in January, stated that nearly 23 per cent of Jamaicans still do not have a bank account and a further 6.3 per cent are underbanked. Most are lower-income earners and live in rural Jamaica.

"We recognise this, and so financial inclusion was at the heart of the creation of the passport service," commented Claudine Allen, ONE JN programme director, who oversaw the project to build out the intelligent application.

"It makes financial services much more accessible and convenient, so that persons aren't restricted to branches and offices, and can acquire financial services faster and easier by passporting their data across entities within the JN Financial Group," she underscored.

Approved by the BOJ, the ONE JN Passport enables users to conveniently and securely provide their personal information once, then use it multiple times to access services, such as JN Bank unsecured loans and regular savings accounts.

In its current form, the app uses information provided to shorten financial product application processes, for instance, enabling submission of loan applications and supporting documents and receive approval decisions in mere minutes. If the loan application is successful, the funds will also be disbursed as instructed by the applicant.

"We have created the JN Passport so that Jamaicans don't need to sacrifice working hours waiting to be seen or produce multiple sets of the same documentation every time they want to do business," she said.