Continued investment in AI and machine learning results in 60 percent revenue growth, significant growth in product offerings and industry accolades
Jumio, the leading AI-powered trusted identity as a service provider, today announced that revenue grew by 60 percent year-over-year in the first quarter of 2019. Jumio also celebrated a successful start to 2019 in the form of new product launches, an expanded global footprint and multiple key award wins. Jumio launched two new products in Q1 to further fortify its industry-leading suite of identity verification, authentication and compliance solutions.
Jumio Authentication is the first video-selfie authentication solution in the market to combine facial biometrics for initial identity proofing and ongoing user authentication. The solution enables companies to use the same biometric (a 3D face map) to corroborate the identities of new online customers and the identities of existing users. This secure and rapid authentication method is ideal for account logins and high-risk scenarios including wire transfer attempts and password resets in order to overcome the shortcomings and security vulnerabilities of traditional authentication methods (e.g., knowledge-based authentication and SMS-based two-factor authentication).
Jumio Screening is a fully automated anti-money laundering (AML) screening solution that integrates ComplyAdvantage, a dynamic real-time database of people and companies that pose financial crime risk. Jumio Screening helps businesses make the right AML decisions with comprehensive global coverage of sanctions, watchlists, PEPs and adverse media.
“We’re off to a great start in 2019 with the addition of Jumio Authentication and Jumio Screening, which strengthen our product portfolio of AI-powered solutions to defend against account takeovers and sophisticated money laundering schemes,” said Robert Prigge, Jumio president. “These new products are a testament to our continued drive for cutting-edge innovation to help defend against these emerging threats.”
The first quarter of 2019 was also notable for the following achievements:
- Fast Company Most Innovative Companies: Jumio was named to Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2019 and was honored both as the 29th-ranked company globally and the second-ranked company in the Security category.
- Technology and Workplace Culture Recognition: QI 2019 saw a number of awards. On the product and technology front, Jumio was named a winner of Business Intelligence Group’s 2019 Artificial Intelligence Excellence Awards, received four awards in the 2019 Cybersecurity Excellence Awards, along with Best Product in Biometrics, Best Product Fraud Prevention and Market Leader in Compliance by the InfoSec Awards. Jumio also received two awards for workplace culture and was named a Best Place to Work by Business Intelligence Group and one of the Best Places to Work in FinTech by SourceMedia.
- Latin America Expansion: Jumio grew its global footprint by establishing a new sales office in Brazil and appointing Samer Atassi as regional director. Jumio is building on its longstanding commitment to serve fintechs, financial service organizations and sharing economy companies of all sizes by establishing a Latam regional sales center to strategically serve those sectors.
To learn more about Jumio and its award-winning end-to-end identity verification and authentication solutions, visit jumio.com.
When identity matters, trust Jumio. Jumio’s mission is to make the internet a safer place by protecting the ecosystems of businesses through cutting-edge online identity verification and authentication services that quickly and accurately connect a person’s online and real-world identities. Jumio’s end-to-end identity verification solutions fight fraud, maintain compliance and onboard good customers faster.
Leveraging advanced technology including augmented intelligence, AI, biometrics, machine learning, certified 3D liveness detection and human review, Jumio helps organizations meet regulatory compliance including KYC, AML and GDPR and definitively establish the digital identity of their customers. Jumio has verified more than 170 million identities issued by over 200 countries and territories from real-time web and mobile transactions. Jumio’s solutions are used by leading companies in the financial services, sharing economy, digital currency, retail, travel and online gaming sectors. Based in Palo Alto, Jumio operates globally with offices in North America, Latin America, Europe and Asia Pacific and has been the recipient of numerous awards for innovation. For more information, please visit www.jumio.com.
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