Jumio, Provider of AI enhanced ID Verification, Digital KYC, AML, Reports Solid Q3 Results

Jumio, the provider of AI-enhanced end-to-end identity verification, eKYC and AML solutions, announced another solid quarter, with new business growing over 130% in Q3 2021 from Q3 2020.

As mentioned in a release shared with CI, this growth coves the globe and several different industries, such as healthcare and government, and “reflects the innovation of Jumio’s AI-powered solutions portfolio.”

Jumio also celebrated the first anniversary of its acquisition of Beam Solutions’ AML platform by “marking another record quarter for its end-to-end AML compliance solutions, which help organizations that move money know their customers, detect suspicious activity, manage investigations and submit regulatory filings — all in the Cloud.”

Q3 was also a record quarter for Jumio’s channel program, which “continues to welcome partners who create … solutions that address customer pain points including fraud detection, streamlined onboarding and AML and KYC compliance,” the announcement revealed.

“Whether you’re creating an account for social media, healthcare or a bank, identity is the keystone, and as the digital identity space evolves, Jumio continues to expand and innovate to support accelerated digital transformation and online transaction growth across geographies and industries,” stated Robert Prigge, Jumio CEO.

Other key highlights during Q3 are as follows:

  • Board Expansion: In September, Jumio appointed Jennifer N. Harris to serve on the company’s Board of Directors. Harris spent more than three decades in high-profile finance and accounting positions at rapidly growing high-tech companies.
  • Industry Recognition: Also in September, Jumio was named to the 2021 AIFintech100 List, showcasing the world’s most innovative solution providers using AI to solve challenges and improve efficiency in the financial services sector.
  • Key Executive Hire: Anna Convery joined Jumio as chief marketing officer. Convery has more than 30 years of experience in enterprise technology, helping Fortune 500 companies drive revenue growth and market presence.

As previously reported, Jumio’s goal 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 provides “a range of identity proofing and AML services to accurately establish, maintain and reassert trust from account opening to ongoing transaction monitoring.”

Leveraging the latest tech such as AI, biometrics, machine learning, liveness detection and automation, Jumio assists organizations fight fraud and financial crime, onboard good customers faster and addressing regulatory compliance such as KYC, AML and GDPR. Jumio has performed over 400 million verifications spanning more than 200 countries and territories from real-time web and mobile transactions.

With offices in Palo Alto, Jumio operates internationally with additional locations in North America, Latin America, Europe and Asia Pacific.

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