Jumio Announces Record Quarter With 150% Growth Fueled by Financial Services, Mobile and Social

By AIT News Desk On Jul 20, 2021

Q2 highlights include record transaction volumes, KYX and AML platform enhancements and global channel momentum

Jumio, the leading provider of AI-powered end-to-end identity verification and eKYC solutions, 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.

“A comprehensive, AI-powered verification platform is key to accommodating our customers’ explosive growth and helping them establish and maintain trust online.”

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.