Jumio claims major biometric and OCR improvements from two-year AI investment
Jumio has released feedback following a two-year investment in a number of projects related to AI, machine learning, optical character recognition (OCR) and biometrics technology, the company announced, leading to major improvements in speed, accuracy and user experience.
Throughout the two years, the Palo Alto-based company invested in machine-learning models and high-volume datasets to train and help speed up Jumio’s fraud pattern detection process. This approach has not only led to the release of the fully-automated, AI-powered identity verification solution called Jumio Go, but it has also enhanced the company’s other identity verification and authentication solutions.
“We’re seeing across-the-board improvements in our ability to automate virtually every phase of the identity verification process, making our core solutions even faster, easier and more accurate for our customers and their end users,” said Labhesh Patel, Jumio CTO and chief scientist.
Some of the product enhancements noticed include a faster verification response time of over 33 percent, an approximately 90 percent automation rate of the identity verification process where human input is required only when image quality is poor, and a 15 percent higher customer conversion rate after users were allowed to retake images and course-correct codes.
Jumio claims to be the only solution currently available to cover certified liveness detection to block deepfakes, bots and spoofing attacks. It incorporated FaceTec ZoOm biometric technology be Level-1 and Level-2 certified for NIST iBeta Presentation Attack Detection (PAD) testing. After enabling a cross-device experience by allowing users to easily switch from a mobile device to a computer to complete their journey, the company’s online conversion rates went up by over 10 percent.
Last month, Jumio was recognized as a “Representative Vendor” by Gartner for the second year in a row, and was declared by the Cyber Defense Global Awards to be a Leader in Authentication and Most Innovative in Biometrics.