Jumio Announces Record Quarter with 150% Growth Fueled by Financial Services, Mobile and Social
Q2 highlights include record transaction volumes, KYX and AML platform enhancements and global channel momentum
Palo Alto, CA - July 20, 2021 -Jumio, the leading provider of AI-powered end-to-end identity verification and eKYC solutions, today announced that both sales and revenue grew over 150% in Q2 2021 from Q2 2020, fueled by an ongoing need for modern enterprises to know and trust that their online users are who they claim to be. This is evidenced by the large growth seen in financial services, mobile delivery services and social platforms verifying everyone from customers to employees to influencers.
Enabled by Jumio’s acquisition of Beam Solutions’ AML platform, the company also established all-time record sales for its end-to-end AML compliance solutions. Jumio processes over 20 million AML transactions monthly to help organizations that move money know their customers, detect suspicious activity, manage investigations and submit regulatory filings — all in the cloud.
“As almost all business is now remote-first, it is more important than ever to establish trust online,” said Robert Prigge, Jumio CEO. “A comprehensive, AI-powered verification platform is key to accommodating our customers’ explosive growth and helping them establish and maintain trust online.”
Other notable achievements in the second quarter included:
Award-winning Liveness Detection: In April, Jumio added iProov’s award-winning liveness detection to its KYX Platform, ensuring that the online user is genuine, physically present and not a sophisticated cyberattack using deepfakes or other synthetic media.
Global Channel Momentum: Jumio added and expanded a significant number of key partnerships in the second quarter, including Microsoft, Copper River IT, Australia’s National Crime Check and Veridium. Jumio also signed a new distribution relationship with Ingram Micro and its Emerging Business Group (EGB).
Industry Recognition: Jumio was named a gold winner in the 2021 IT World Awards. Jumio was honored for its KYX Platform, validating the company’s efforts to provide a secure, comprehensive solution that helps enterprises confirm user identity, prevent fraud and safely onboard customers. To learn more about Jumio and its award-winning, AI-powered identity solutions, visit jumio.com.
When identity matters, trust Jumio. Jumio’s mission is to make the internet a safer place by protecting the ecosystems of businesses through a unified, end-to-end identity verification and eKYC platform. The Jumio KYX Platform offers a range of identity proofing and AML services to accurately establish, maintain and reassert trust from account opening to ongoing transaction monitoring.
Leveraging advanced technology including AI, biometrics, machine learning, liveness detection and automation, Jumio helps organizations fight fraud and financial crime, onboard good customers faster and meet regulatory compliance including KYC, AML and GDPR. Jumio has carried out more than 400 million verifications spanning over 200 countries and territories from real-time web and mobile transactions.
Based in Palo Alto, Jumio operates globally with offices in North America, Latin America, Europe and Asia Pacific and has been the recipient of numerous awards for innovation. Jumio is backed by Centana Growth Partners, Great Hill Partners and Millennium Technology Value Partners.