- Company (that provides the nominated product / solution / service): Jumio
- Website: https://www.jumio.com/
- Company size (employees): 1,000 to 4,999
- Country: United States
- Type of solution: Service
- Approximate number of users worldwide: Jumio has several hundred customers who have generated close to 100 million online verifications to date.
What other awards did this nomination receive in the previous 12 months?
• Bronze 2017 Stevie Award, New Product/Service of the Year, the Software -Category for Identity & Access Security Solution
• 2017 Cyber Defense Magazine InfoSec Awards
• FinTech Breakthrough Award in the Best Fraud Prevention Platform
• Frost & Sullivan Entrepreneurial Company of the Year” in the Biometric Security Solution Industry
• FinTech Global: 100 Most Innovative RegTech Companies
• Silicon Review: 30 Most Trustworthy Companies of 2017
In 3 bullets, summarize why this product or service is different from the competition and deserves recognition:
• Most Accurate Solution: Jumio has invested in the technology, processes and people to make it the most accurate solution in the market. Over the last 12 months, Jumio rejected 91.6 percent of invalid transactions and approved 99.97 percent of valid transactions through a combination of computer vision, machine learning, biometrics and human review.
• Machine Learning at Scale: Because size matters when it comes to machine learning, Jumio has a big leg up having performed almost 100 million online verifications and has the largest database of transactions to train its algorithms -- easily 10x that of the next nearest competitor. By tagging tens of thousands of IDs, the algorithms that feed Jumio’s machine learning get smarter, faster and learn how to recognize these patterns automatically. Jumio leverages a large team of verification experts to tag IDs -- both good and rejected images -- to help train our ML algorithms.
• Global Growth: Jumio is the largest and fastest growing solution in the market. In Q3, the company’s sales grew 411 percent YoY and average deal sizes tripling, driven by sales in financial services, cryptocurrency, and the sharing economy. As part of this growth, Jumio continues to attract larger, more global customers with its average deal size more than tripling year-over-year. Today, Jumio is being used for online identity verification by five of the top 10 cryptocurrency exchanges, including Coinbase, Bittrex, and Bitstamp. Jumio’s Netverify is also increasingly being deployed by ICO issuers to magnify the trust and transparency associated with their blockchain-related projects and to meet evolving AML and KYC compliance requirements.
Whether in front of a webcam or a smartphone, Jumio can quickly verify the authenticity of an ID, a document, or your user’s real-world identity in seconds—not hours or days—helping businesses optimize conversions, deter fraud, and meet compliance mandates (AML/KYC) while providing a fast, seamless customer experience.
Jumio’s Netverify® solution suite uses computer vision technology, machine learning, biometrics, and human verification experts to verify credentials issued by over 200 countries in real time web and mobile transactions. Jumio’s Trusted Identity as a Service platform is used by leading companies in the financial services, cryptocurrency, sharing economy, retail, travel and online gaming sectors – including Airbnb, Coinbase, easyJet and more.
Netverify conducts ID verifications using a hybrid approach including machine learning algorithms, image forensics, biometric facial recognition and human verification experts, to ensure that an ID is legitimate. Jumio conducts more than 300,000 verifications daily and has a database of almost 100 million total verifications. This powerful dataset informs machine learning (ML) algorithms trained to identify common fraud patterns. Where a blurry image or other aspect causes doubt, human verification experts step in to examine the documents individually.
Jumio helps businesses establish the real-world identity of their users – quickly, accurately, and compliantly. Jumio is used by leading companies in the financial services, cryptocurrency, sharing economy, retail, travel, and online gaming sectors. Based in Palo Alto, Jumio operates globally with offices in the US, Europe, and Asia Pacific and has been the recipient of numerous awards for innovation.