Online fraud during the holiday shopping period from Black Friday to Cyber Monday fell by 33 percent, and for 2017 has decreased by 17 percent compared to last year, after growing steadily from 2014 to 2016, according to research revealed Tuesday by Jumio. Online businesses are increasingly combatting fraud with a combination of ID and identity verification, the company says, often through facial recognition with a selfie or video, which deters fraud attempts. “While 2017 witnessed the first decline in
Jumio Corporation reported that it saw record sales in Q3 2017, with a 411 percent year-over-year increase as a result of a significant spike in financial services sales and growing demand within the bitcoin market. This rise in sales in the bitcoin market specifically pertains to the leading cryptocurrency exchanges and issuers of initial coin offerings (ICOs). As part of this growth, Jumio continues to draw larger, more global customers with its average deal size more than tripling year-over-year. The
Jumio has launched its upgraded trusted identity as a service platform to combat growing online threats, increased sophistication by fraudsters and high-profile cryptocurrency hacks. The company’s latest Netverify solution suite includes expanded functionality to make its machine learning-powered online identity verification service significantly smarter, faster, and more scalable. The upgraded trusted identity as a service platform takes a hybrid approach combining computer vision technology, machine learning, biometrics and human experts to quickly and accurately verify credentials, such as passports and driver’s
Jumio has been awarded “Entrepreneurial Company of the Year” in the biometric security solution industry by Frost & Sullivan. Frost & Sullivan concluded that the digital ID verification company’s entrepreneurial spirit drives it to continuously launch advanced solutions that will transform and enrich the customer experience while reducing identity fraud faced by most businesses in the digital world. Jumio’s Netverify Trusted Identity as a Service platform is an advanced ID verification solution that combines proprietary computer vision technology with biometric
Jumio Corporation issued its Q2 2017 financial results, which saw an 87 percent spike in sales compared to Q2 2016 due to large sales to major US banks, cryptocurrency exchanges, and payment platforms. At the close of the quarter, Jumio was helping enterprise and financial services organizations convert more than 100 percent more customers on a daily basis than at the close of 2016. Jumio created Netverify Trusted Identity as a Service (TIaaS) to help enterprises combat identity fraud attempts.
Jumio has partnered with European money messaging app Plynk to biometrically verify users who are loading money onto their Plynk accounts for instant person-to-person payments. Plynk simplifies the process of money transfers between friends by integrating a payments account and a messaging platform to allow people to instantly send funds to other Plynk account-holders in a messenger. The app allows users to send money to a single individual or distribute funds through group chat applications, without the fees and delays that
Branddocs has partnered with Jumio to offer the company’s solutions to its extensive client base in Spain and LATAM. TrustCloud solution by Branddocs is used by many globally-recognized organizations including Logitravel, AON, BBVA, Banco Santander, Willis, XL Catlyn, and others to conduct secure digital transactions and archive them as a Trusted Third Party. This significantly cuts down on the execution time of processing and shipping costs of transactions. Jumio’s Netverify Trusted Identity as a Service (TIaaS) will work alongside Branddocs’
Jumio has added eyeball tracking biometric capabilities to its trusted identity verification solution, Netverify. In addition to conducting a “liveness” check to verify that a real person is holding the mobile device, Jumio’s Netverify will now require users to follow an icon on the mobile device screen with their eyes as it moves in a random pattern. The biometric verification technology will be available to all Netverify users, including financial institutions, sharing economy providers, online gaming and travel companies. “Fingerprint
Mobile-only bank Monzo will be using Jumio’s Netverify Trusted Identity as a Service to help verify customers who are moving from its prepaid card service to a full current account, enabling the bank to comply with Know-Your-Customer (KYC) requirements. Netverify will also be used to verify existing prepaid card consumers and new people signing up for Monzo’s current accounts. “Our mission is to build a current account for a billion consumers,” explained Natasha Vernier, head of fraud at Monzo. “Working
Jumio has issued its financial results for Q1 2017, which showed 47 percent growth in annual recurring revenue (ARR) year-over-year. The company attributes the net new growth to a surge of enterprise accounts, setting records for the most enterprise accounts in a given quarter and in daily transaction volume. Meanwhile, Jumio’s customer base continues to expand as a result of its comprehensive identity verification solutions, which include Netverify Trusted Identity as a Service, ID verification, identity verification and document verification.