Jumio, the provider of AI-enhanced end-to-end identity orchestration, eKYC and AML solutions, recently announced that the firm is acquiring strategic partner 4Stop, the data marketplace and orchestration hub for KYB, KYC, compliance and fraud prevention.
The addition of 4Stop’s data sources to the Jumio KYX Platform “realizes Jumio’s strategic vision of redefining the end-to-end identity industry,” according to an update shared with Crowdfund Insider.
Established in Germany in 2016, 4Stop’s international data marketplace and orchestration hub integrates “with multiple vendors giving access to more than 650 data sources across 195 countries.”
As noted in the announcement, 4Stop’s technology, when combined with Jumio’s solutions, will enable organizations to “manage the entire customer identity lifecycle within a single, unified platform and will allow for rapid configuration and integration through one easy and intuitive API layer.”
This acquisition follows the launch of Jumio’s intuitive no-code orchestration layer for its KYX Platform and will “accelerate Jumio’s business and technology objectives to solidify itself as the leader in digital identity orchestration.” The update further noted that the financial terms of the agreement, “which is expected to close in early 2022, were not disclosed.”
Jumio CEO Robert Prigge stated:
“Today’s pace and sophistication of cybercrime means organizations cannot afford to rely on multiple vendors for their identity verification and fraud prevention needs. There’s no way around it: a successful identity company must now have KYC, AML, KYB and orchestration. Together, 4Stop and Jumio’s solutions will offer this and more, delivering a complete, end-to-end approach to identity orchestration and fraud prevention. Not only will customers be able to rely on a single system for all of their identity and fraud prevention needs, they’ll also have an integrated and comprehensive view of their entire system, ensuring superior monitoring and risk management.”
4Stop’s international data and risk marketplace brings together their proprietary real-time anti-fraud technology “with the largest selection of premium global data services for identity, transaction and compliance available in a pick-and-choose model.”
Businesses may anticipate and manage their risk and fraud defense, “regardless of region, market or industry worldwide, and make well-informed decisions backed by quantifiable data to manage regulatory obligations that will accelerate their business performance.”
Ingo Ernst, 4Stop CEO, remarked:
“It has always been 4Stop’s passion to establish a modern, end-to-end and versatile data and risk management platform to better serve business’ global compliance and fraud defenses. Our online ecosystem and regulations are constantly evolving. Businesses need to quickly adapt and sync with leading technology and obtain future-proof sustainability. We are very excited for the opportunity to join forces with Jumio to build and perfect crucial next-generation identity and anti-fraud solutions to support the growth of global online ecosystems.”