- Website: https://www.jumio.com/
- Company size (employees): 1,000 to 4,999
- Country: United States
- Headquarters Region: North America
In 3 bullets, summarize why this company is different from the competition and deserves recognition:
- The Industry Leader: More than 20 industry awards won, including Best Authentication Technology in the 2018 SC Awards, Overall ID Management Solution of the Year Award in the 2018 CyberSecurity Breakthrough Awards and the Best in Biz Awards 2018 International. Jumio was also named a representative vendor in Gartner’s “Market Guide for Identity Proofing and Corroboration,” a leading information technology research and advisory company.
- Booming Sales Growth: Jumio’s revenues almost tripled in 2018 compared to the previous year thanks to geographic expansion, product innovation (especially in AI and augmented intelligence), and continued penetration within global brands across a variety of use cases (new account onboarding, AML, KYC and GDPR compliance, fraud detection, step-up authentication, parental consent, age verification, etc.).
- Global Footprint: Verified 150 million identities issued by over 200 countries and territories. In 2018, Jumio launched in Asia Pacific with new sales office in Singapore and launched Jumio AI Labs in Montreal to accelerate AI and machine learning innovation. Jumio also hosted the first-ever Identity Matters Summit in London.
In less than 300 words, summarize the achievements of the company in the nominated category
Jumio has had massive growth this year, as it has expanded its digital identity verification products, services and global footprint. In fact, Jumio’s sales have grown for eight straight quarters.
In 2018, Jumio surpassed the 150 million identities verified benchmark, which gives a significant competitive advantage when it comes to machine learning. The larger the data set is, the smarter the algorithms work. Jumio’s machine learning algorithms have helped improve the speed and accuracy of online verification. Jumio’s AI models have reduced the average customer transaction time by 7 percent, with more significant reductions planned.
Jumio launched Jumio AI Labs in September 2018 in Montreal to accelerate its continuous investment in artificial intelligence and machine learning. Jumio AI Labs is dedicated the creation, experimentation and execution of machine learning and deep learning technologies.
This year, Jumio expanded into the Asia Pacific region when it opened an office in Singapore, which supports the growing demand for online digital identity verification services by banking, financial services and online gaming companies. This expansion fueled record sales growth in the APAC region, expanding over 531 percent over the previous quarter. Overall, Jumio’s revenue almost tripled in 2018 thanks to geographic expansion, product evolution, and continued penetration within enterprise accounts (across a variety of emerging use cases).
Jumio supports some of the largest organizations in the sharing economy (Airbnb), digital banking (Monzo), travel (United Airlines), online gaming (betfair) and digital currency (Coinbase) sectors and is rapidly growing as more companies seek Jumio’s help to operate a secure, successful business online. Jumio is the global leader in identity verification and it performs close to 300,000 verifications per day. Over the last 12 months, Jumio approved 99.97 percent of valid transactions and rejected 91.64 percent of invalid or fraudulent transactions.