Netverify®

Additional Info

CompanyJumio
Websitehttps://www.jumio.com/
Company size (employees)1,000 to 4,999
Type of solutionHybrid

Overview

For many online organizations today, the only way to ensure high levels of fraud detection is to require a customer to physically visit a local office. But modern smartphone-enabled technologies are enabling more organizations to achieve high levels of fraud detection and conversion rates. In order to do this, identity verification solutions need the right combination of features, technologies, and processes.

While other verification solutions rely on automation to check IDs, Jumio uses a hybrid approach that delivers highly accurate results with correspondingly high levels of fraud detection. Jumio uses computer vision technology, machine learning, artificial intelligence, biometrics, and human verification experts to verify and secure credentials issued by over 200 countries in near real-time web and mobile transactions. Netverify consists of three solutions: ID Verification, Identity Verification, and Document Verification.

In an ever-growing digital world, verifying your customer’s real-world identity to their digital identity can be daunting. But as cybercriminals become more and more savvy, mitigating fraud risk is essential to a business’s bottom line.

However, Jumio gives customers a definitive yes-or-no decision about whether to accept or reject an online verification transaction with the highest accuracy rates in the industry. More importantly, better verification solutions will return additional information about why an ID was rejected (e.g., because the photo taken was a photo of a computer screen) or why an selfie was not accepted (e.g., because the selfie is actually a photo cropped from the physical ID).

This quality of identity verification service has lead to a track record of customer success, as the company has supported some of the largest organizations in the sharing economy (Airbnb), cryptocurrency (Coinbase), digital banks (Monzo), travel (United Airlines), and online gambling (betfair) spaces with more customers being added continually.

How we are different

- Market Leading Accuracy: Jumio has invested in the technology, processes, and people to make it the most accurate solution in the market. Through a combination of computer vision, machine learning, biometrics, augmented intelligence, and human review, Jumio has enabled the highest level of accuracy in deterring fraud.


- Machine Learning at Scale: Jumio has a big leg up over the competition, having performed over 130 million online verifications. Jumio also has the largest database of identity verification 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 machine learning algorithms and improve verification accuracy.


- Global Growth: Jumio has emerged as the global standard for online identity verification, leading to it recently record its best sales quarters in company history in Q2 2018. Jumiosales grew by more than 200% year-over-year for three of its last four quarters, with a 48% increase in sales over the same quarter last year. The results were fueled by record sales growth in the Asia Pacific region, which grew 531% over the previous quarter. The company has recorded quarter-over-quarter sales growth nine of the last 10 quarters, showing a market demand for this identity management solution in this market. Jumio extends its biometric verification services with ID by processing government documents with real-time scanning and validation of IDs in more than 200 countries and territories.