Jumio Continues to Enjoy Record-Breaking Success in Q1 Report

Jumio is celebrating yet another record-breaking quarter. The company has been on a phenomenal upward trajectory for the past few years, most recently reporting a 130 percent increase in year-over-year sales in the fourth quarter of 2021.

Now the company has repeated the feat with 140 percent sales growth for the first quarter of 2022. The news speaks to the high demand for secure identity verification solutions in a number of different industries, and especially amongst highly regulated financial services and government organizations.

For its part, Jumio noted that its technology can help organizations achieve compliance with various international standards. The company’s platform uses face and document recognition to match a selfie to the image on a photo ID during the onboarding process. It can also monitor account activity on an ongoing basis to watch for signs of potential fraud.

Jumio’s highlights for the quarter include its listing in March’s Gartner Market Guide for Identity Proofing and Affirmation. This is the fourth consecutive year that Jumio has been named as a Representative Vendor in the report. In the meantime, Jumio’s KYX solution went home with a gold and a silver prize in the fraud prevention and AI security categories, respectively, at the 2022 Cyber Security Global Excellence Awards.

“Government agencies are changing their mindset and now truly understand the need to implement cutting-edge identity verification technology in order to prevent scammers from impersonating unknowing citizens and to know with a high level of assurance that only legitimate end users are accessing benefits and services,” said Jumio CEO Robert Prigge.

In other news, Jumio is looking to raise its profile in the Middle East, and has consequently asked Arshad Sheikh to serve as its first sales leader for the entire Middle East, Turkey and North Africa region. The company also completed its acquisition of 4Stop during the first quarter of the year.

–

April 22, 2022 – by Eric Weiss

Related News

Partners

FaceTec’s patented, industry-leading 3D Face Verification and Reverification software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ finally make trusted, remote identity verification possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for 3D Liveness and Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

Oz Forensics is the independent private vendor of robust, technology-based, and AI-powered liveness detection and face-matching solutions founded in 2017 and headquartered in Dubai, UAE. We confirm the security level of our solution by certifying the ISO-30107 Level 1 and 2 standards. https://ozforensics.com/

AuthenticID provides 100% automated identity verification and fraud detection solutions that are leveraged by companies worldwide, including 2 of the top 3 U.S. Banks, 8 out the top 10 wireless providers in North America, and 2 of the 3 credit bureaus. Using proprietary computer vision and machine learning technology, these solutions help companies accurately verify the identity of their users across retail, digital and call center environments for onboarding and ongoing re-authentication events; KYC, IAM, and more. The solutions are easy to integrate and provide customers a large ROI by stopping fraud losses, increasing customer conversion at onboarding, reducing operational costs and allowing quick and cost-effective operational scalability, all while ensuring global privacy regulations are complied with. https://www.authenticid.com/

Founded in 2007, Lakota Software Solutions is an American company with a world-renowned reputation for developing robust biometric software and systems. Our vendor-agnostic products are tailored to ensure compliance with ANSI/NIST-ITL standards and EBTS specifications, facilitate seamless integration with other biometric systems, and optimize accuracy, cost-effectiveness, and scalability. https://lakotasoftware.com/

Identity Week aims to be a significant identity industry catalyst. It’s our mission is to help accelerate the move towards a world where trusted identity solutions enable governments and commercial organisations to provide citizens, employees, customers and consumers with a multitude of opportunities to transact in a seamless, yet secure manner. All the while preventing the efforts of those intent on doing harm. https://identityweek.net/

The Biometric Digital Identity Prism is a market landscape framework designed to help influencers and decision makers understand, innovate, and implement digital identity technologies and solutions. This innovative framework for understanding and evaluating the rapidly evolving biometric digital identity marketplace is the only market model that is truly biometric-centric based on the foundational conviction that in the age of digital transformation the only true, reliable link between humans and their digital data is biometrics. https://www.the-prism-project.com

Related News

Footer

Follow Us