Jumio credits investments in biometrics, AI and ML for sales growth

Categories Biometrics News  |  Trade Notes

Jumio reports today that sales grew by 130 percent year-over-year in the first three quarters of 2018 and that its annual recurring revenues also more than doubled, increasing 104 percent over the same period.

“This growth validates the importance of AI-powered trusted identity as a service and is further proof that Jumio’s innovations around liveness detection, machine learning and AI have enabled us to become the global leader in online identity verification,” said Stephen Stuut, CEO of Jumio. “Jumio performs close to 300,000 verifications per day, and has already verified 150 million transactions to date.”

The third quarter of 2018 was notable for the identity-as-a-service provider with the launch of Jumio AI Labs in Montreal, Canada and forming a new partnership with omnichannel digital banking platform Backbase. In addition, Jumio was honored at the UK Digital Experience Awards 2018 for “Financial Services: Best User Experience” and “Best Online User Experience B2C – Best Digital Customer Journey”.

In September Jumio hosted its first-ever Identity Matters Summit in London to connect with customers and share the latest trends and solutions in identity capture and verification, along with the best practices for building trusted relationships while preventing fraud.

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