|Company size (employees)
|1,000 to 4,999
Jumio’s mission is to make the internet a safer place by protecting the ecosystems of businesses through the Jumio KYX Platform, a unified identity verification, eKYC and AML platform. Jumio KYX offers a range of identity proofing and AML services to accurately establish, maintain and reassert trust from account opening to ongoing transaction monitoring. Jumio uses the power of AI, biometrics, machine learning, liveness detection and automation to help organizations fight fraud and financial crime, onboard good customers faster and meet regulatory compliance mandates.
In the past year, enterprises heavily relied on Jumio’s KYX Platform to remotely verify users. The platform has enabled Jumio to establish prominence as a leading vendor in the identity verification space for fraud detection and AML prevention. Key 2021 achievements include:
– Jumio announced it was acquiring 4Stop. 4Stop’s technology, combined with Jumio’s solutions, will enable organizations to manage the entire customer identity lifecycle with a single, unified platform and will allow for rapid configuration and integration through one easy and intuitive API layer.
– Jumio introduced its new no-code orchestration layer for its KYX Platform, that unifies an entire set of risk and fraud detection capabilities to address identity proofing, compliance verifications and AML use cases. With this new addition, Jumio KYX can provide multi-layered, end-to-end risk detection with flexible workflows, which increases visibility by showing a holistic view of the consumer identity and any underlying risk.
– Jumio secured a $150 million investment from Great Hill Partners. With this investment, the company has devoted additional resources to automate its identity verification solutions, expand the breadth of the Jumio KYX Platform and grow its suite of AML compliance services.
– Enabled by Jumio’s acquisition of Beam Solutions’ AML platform, the company established all-time record sales in Q3 2021 for its end-to-end AML compliance solutions.
How we are different
- Jumio has carried out more than 500 million verifications and announced earlier this year that it is processing over 20 million AML transactions monthly.
- Jumio’s sophisticated machine learning models catch the majority of fraud attempts. With Jumio KYX’s state-of-the-art Face Lookup feature, fraud detection has dramatically increased. This innovation flags potential fraudulent activity by the same face being used across multiple identity verification attempts, specifically targeting fraud rings and repeat fraudsters.
- Jumio KYX verifies more than 3,500 types of ID documents from over 200 countries and territories from real-time web and mobile transactions. This dataset of ID documents is the second largest in the world (second only to Interpol). Jumio uses people from all around the world to tag its data sets, embracing diversity and imparting a global perspective in the data tagging process. This, coupled with the significant volume of data, allows Jumio to radically reduce negative and hurtful bias in AI models and take an ethical stance on AI and data tagging.