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Jumio announces best sales quarter to date

Categories Biometrics News  |  Trade Notes
Jumio announces best sales quarter to date

Jumio reports today that it has achieved the best sales quarter in company history. This follows-up a February announcement that 2017 was the strongest year for the eight-year old company.

According to the announcement, Jumio grew Q1 2018 sales of its Netverify solution by more than 400 percent compared to the same quarter last year. This represents the second quarter out of the last three where the company increased sales by more than 400 percent and the fifth consecutive quarter of increased sales. Jumio notes that this growth is driven by strong sales in telecom, financial services and the sharing economy.

“The increasing reality of online fraud and well-publicized data breaches underscores the need to definitively establish someone’s online identity, an issue which has never been more challenging or important,” explains Steve Stuut, CEO of Jumio. “Making matters worse, traditional methods of identity verification, such as knowledge-based authentication, are increasingly being exploited with weak or compromised credentials. As a result, more businesses are turning to biometrics-based, online identity verification solutions that balance security, speed and the user experience.”

Jumio also revealed that it is now processing more than 120 million identity verifications.

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