Jumio fights account takeover and fraud with facial biometric authentication
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Jumio fights account takeover and fraud with facial biometric authentication
Additional Info
| Company | Jumio |
| Website | https://www.jumio.com/ |
| Company size (employees) | 1,000 to 4,999 |
Overview
Near-daily data breaches continue to threaten organizations and expose usernames, passwords and personal records on the dark web, giving fraudsters everything they need to access existing accounts. Once a fraudster logs into an account with stolen data, they can easily change the credentials and lock the legitimate user out (account takeover) and make purchases, commit insurance fraud and transfer funds, among other actions. Traditional forms of authentication, such as passwords, SMS-based two-factor authentication and knowledge-based authentication, are no longer reliable or secure because they can be easily bypassed or guessed.
In February 2019, Jumio launched Jumio Authentication, a video-selfie authentication solution that was first in the market to leverage face-based biometrics for initial identity proofing and ongoing user authentication. Jumio Authentication allows modern enterprises to prove user identity in online transactions by unlocking their users’ digital identities in seconds. It’s becoming increasingly important to deploy certified 3D liveness detection methods. Unfortunately, a number of liveness detection technologies are uncertified and still rely on “tells,” such as blinks, nods and other verification prompts — all of which can be spoofed by deepfakes
To help stay ahead of fraudsters, Jumio integrated the world’s first and only iBeta Level 1 and Level 2 certified anti-spoofing technology into its online identity verification suite to capture and process the user’s face images taken from any 2D smartphone camera or webcam.The face frames taken with Jumio Authentication are then reconstituted to create a 3D face map which contains over 100 times more liveness data than a 2D photo. This type of liveness detection ensures the user is physically present and prevents masks, dolls, photos or videos, including deepfakes, from fooling the system.
Jumio Authentication also employs adaptive learning technology to learn from each and every user authentication. This means the new 3D face map is
How we are different
Biometric-Powered Authentication: Jumio Authentication is the first in the market to leverage face-based biometrics for initial identity proofing and ongoing user authentication, protecting businesses from fraudsters while providing users an online experience that is fast, secure, accurate and easy to use. Leveraging technologies (including computer vision, machine learning and deep learning Jumio has automated over 90% of the face matching process allowing the company to quickly and reliably make identity verification decisions. Jumio also leverages AI to identify patterns and probability of fraud based on a combination of high- risk variables, allowing the company to identify that 1% of the ID documents (with a unique risk profile) account for about 15% of known fraud.
Going Passwordless: Replacing passwords, KBA and SMS-based out-of-band authentication methods which can be vulnerable to imposters, credential phishing, large-scale data breaches, dark web user data dumps and man-in-the middle attacks, Jumio Authentication leverages 3D face maps to verify users and unlock everything from rental cars to bank accounts.
Reduce Online fraud & Account Takeovers: Losses from fraudulent online transactions are expected to reach $25.6 billion by 2020. (Source: Juniper Research, May 2016) and U.S. businesses were estimated to have lost more than $5 billion as a result of account takeovers during 2017, up three times in one year. (Source: Javelin Research, 2018). Jumio helps prevent account takeovers and credential stuffing by leveraging a unique blend of AI, biometrics, and computer vision, saving enterprises from significant fraud-related loss.
