Jumio Reports 130% Year-Over-Year Sales Growth in Q3 Report

Just ahead of next week’s Money20/20 event, Jumio has delivered a corporate update detailing just how successful its Netverify authentication solution has been over the past nine months.

The company says that over the first three quarters of 2018, it has seen growth of 130 percent in sales, year-over-year. Its annual recurring revenues, meanwhile, jumped 104 percent over the same period.

The growth reflects the overall popularity of selfie-based authentication solutions, with Jumio being a key provider in the financial services market and elsewhere. The company’s platform revolves around AI-driven document reading and facial recognition, allowing end users to confirm their identities by leveraging a standard smartphone camera.

In its announcement, Jumio also highlighted key developments from Q3 in particular, noting that it had opened a new AI research lab in Montreal, partnered with digital banking platform provider Backbase, and hosted its “Identity Matters Summit”. The company also pointed to the latest industry awards it had won during the course of the quarter.

Jumio is looking to add further momentum to its winning streak with its attendance at Money20/20, where it will be demoing its Netverify ID solution. The event will take place in Las Vegas, running from October 21st to 24th.

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(Originally posted on Mobile ID World)