Jumio Sales Up 150 Percent in ‘Remote-first’ Q2 Economy

Jumio‘s sales for the second quarter of 2021 were up 150 percent year-over-year, the company has announced.

In a statement, the privately-held company also noted that it had achieved “all-time record sales for its end-to-end AML compliance solutions,” adding that it is now processing more than 20 million AML transactions per month.

Commenting on the upward trends, Jumio CEO Robert Prigge gestured to the impact of COVID-19, which is generally thought to have accelerated the ongoing shift into digital channels for a range of business and governmental transactions.

“As almost all business is now remote-first, it is more important than ever to establish trust online,” he said. “A comprehensive, AI-powered verification platform is key to accommodating our customers’ explosive growth and helping them establish and maintain trust online.”

Jumio’s solution revolves around the use of facial recognition, with the biometric technology being leveraged to match the selfie photos of end users to their associated identity documents. It’s an approach to authentication that enables reliable identity verification via an intuitive end user experience.

In its update, Jumio also noted a number of important developments for the company over the quarter, including its integration of liveness detection technology from iProov into its KYX Platform, and key strategic partnerships with Ingram Micro, Veridium, Copper River IT, and Microsoft.

The update comes shortly after the inaugural FindBiometrics Identity Summit, in which Jumio CPO Bala Kumar participated in a fireside chat session.

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July 20, 2021 – by Alex Perala