Jumio issues Q2 2017 financial results with 87 percent spike in sales

Categories Biometrics News  |  Trade Notes

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.

The company successfully verifies the identity of nearly 200,000 consumers per day, allowing Jumio to generate even more revenue.

“Our emergence as the dominant global leader in identity verification in less than 12 months of our acquisition by Centana Growth Partners demonstrates the completely new energy level and commitment to success by our new owners, our new exec team, and our exceptional employees,” said Jumio president and CEO Steve Stuut. “We listened to our customers’ identity verification problems and delivered a solution that is accurate, consistent, and affordable. Our performance this past year underscores just how important our solutions have become in helping our financial services, gaming, sharing economy, and compliance-driven customers manage digital transformation within their businesses.”

Jumio outlined several highlights of the past quarter, such as continuing its leadership within the digital banking space, which included a deployment with UK digital mobile bank Monzo.

The company also opened its Wall Street office, located within a block of the New York Stock Exchange, in order to better support its many US financial services customers.

The company’s Netverify Trusted Identity as a Service combines technology, automation, machine learning and identity experts to provide the highest level of accuracy and fraud detection without falsely rejecting potential customers.

Netverify provides businesses with a comprehensive identity verification solution that can be customized to meet their exact requirements on a global basis.

Last week, Jumio partnered with European money messaging app Plynk to verify users who are loading money onto their Plynk accounts for instant person-to-person payments.

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