Jumio leads identity verification market with record-breaking growth, helps enterprises fight fraud

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Additional Info

Websitehttps://www.jumio.com/
Company size (employees)1,000 to 4,999
Headquarters RegionNorth America

In 3 bullets, summarize why this company is different from the competition and deserves recognition:

Verification Accuracy: Jumio delivers the highest verification accuracy in the market (based on a variety of benchmark tests). On average, Jumio approves 99.9% of valid transactions and rejects 95% of invalid or fraudulent transactions. This level of accuracy translates for a better, faster experience for our customers’ legitimate users, while ensuring bad actors are blocked at the front door. This level of initial verification accuracy has translated into a significantly higher percentage of users being successfully onboarded than those served by competing solutions.
Record-Breaking Growth: Jumio’s revenues are nearly doubling year over year for the last several years, a remarkable achievement for an industry leader. I. This growth was spurred by broader global adoption of eKYC and AML regulations, coupled with strong growth in APAC and LATAM markets, which is enabling more financial institutions to onboard new customers remotely without requiring them to visit a local branch office. Jumio grew its global footprint by establishing a new sales office in Brazil. 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
Excellent Workplace Culture: In 2019, Jumio was named a Best Place to Work by Business Intelligence Group for helping employees accelerate their careers, knowledge and performance. Jumio earned this honor through an online survey where employees ranked their overall job satisfaction and company performance. Jumio was also named one of the Best Places to Work in Fintech by SourceMedia in 2019, where Jumio ranked ninth out of 50 companies on the list.
Latin America Expansion:.

Overview

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. Supporting more than 3,500 global ID types and subtypes, Jumio has verified 200 million identities to date and verifies more than 300,000 identities daily in more than 200 countries worldwide. Jumio’s solutions are used by leading companies in the financial services, sharing economy, digital currency, retail, travel and online gaming sectors.
Jumio’s revenues continue to grow in the high double-digits for each of the past 3 years and 2019 is expected to easily be the best year in the company’s history.. In 2019, Jumio’s AI models have reduced the average customer transaction time by more than 50% and improved the accuracy of the authentication process.
Jumio also delivers a definitive match/no match determination in seconds which has helped improve conversion rates, reduce abandonment rates and bolstered customer satisfaction.
On the product and technology front, 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. Jumio has also received 21 awards total in 2019.
Jumio is the first company on the market to leverage the same biometric (i.e., a 3D face map) for identity proofing and ongoing user authentication. Most companies use different technologies and processes for identity proofing and authentication, but Jumio is actually creating what Gartner refers to as an “identity corroboration hub” which they predict will displace traditional authentication platforms in over 50% of large and global enterprises by 2023.