Jumio, the provider of AI-enhanced end-to-end identity orchestration, eKYC and AML solutions, recently announced a record-breaking close to a solid 2021, with revenue growing by over 130% in Q4 2021 from Q4 2020.
Other Q4 highlights for Jumio include 4Stop acquisition and introduction of no-code orchestration layer for Jumio KYX Platform
As mentioned in the update, an uptake of automated solutions and expanded product offerings have helped Jumio’s annual revenue to “more than double” YoY in 2021. Revenue growth for Jumio’s AML solutions surpassed 330% and the firm continued to “see explosive global expansion in APAC and LATAM regions, with over 300% growth.”
Jumio also “signed a record number of new customers in 2021.” This diverse mix of customers, ranging from financial services to digital health and social media, “speaks to the growing need for all modern enterprises to know and trust their users, from onboarding to ongoing monitoring.”
Robert Prigge, CEO at Jumio, remarked:
“Doubling our revenue and expanding our global leadership in the identity space is a massive accomplishment, especially in such a challenging environment. I am incredibly proud of what we were able to accomplish last year and look forward to 2022 being the best year in Jumio’s history.”
Other notable highlights in the fourth quarter include:
- 4Stop Acquisition: In December of last year, Jumio announced “its intent to acquire current strategic partner 4Stop, the leading data marketplace and orchestration hub for KYB, KYC, compliance and fraud prevention.” 4Stop’s technology, when combined with Jumio’s award-winning 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.”
- KYX Orchestration: The 4Stop announcement “follows the October launch of Jumio’s intuitive no-code orchestration layer for its KYX Platform, unifying an entire set of risk and fraud detection capabilities to address identity proofing, compliance verifications and AML use cases.”
As covered, 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, eKYC and AML 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 combat fraud and financial crime, “onboard good customers faster and meet regulatory compliance including KYC, AML and GDPR.” Jumio has carried out over 500 million verifications “spanning over 200 countries and territories from real-time web and mobile transactions.”
Based in Palo Alto, Jumio operates internationally with business 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.”