Jumio reports biometrics and identity verification customers grew 100 percent in Q2 on year-over-year basis

More biometrics and identity verification customers were added by Jumio in the second quarter of 2020 than any other quarter since its founding, with digital transformation being forced onto businesses, particularly in the financial services and healthcare sectors.

Market shifts towards mobile onboarding for new accounts and telehealth drove the customer gains, as Jumio’s business grew by more than 100 percent, on a year-over-year basis. Jumio’s ecosystem partners sent a tenfold increase in business from the first to the second quarter, as the channel grows in importance.

“The global COVID-19 pandemic has suddenly accelerated the need for organizations to transform and respond to an unprecedented change in customer behavior and market risks – with extensive digitization being one of the key enablers of such change,” states Robert Prigge, Jumio’s CEO. “It’s imperative for enterprises to build in the necessary operational resiliency to survive this new reality. And that resiliency starts with remote onboarding and enabling organizations to create accounts online without having to visit a branch office or retail outlet.”

The company launched its Jumio for Good campaign early in the pandemic to provide free services to COVID-19 relief and assistance organizations. Jumio says a number of healthcare, financial services and online education institutions took advantage of the offer to handle increased demand for their services.

First half customer wins for Jumio include the University of Texas at Austin, transport app Bolt, Cynergy Bank, Quantum Materials, Lanistar, and six of the top banks in the Philippines. Partnerships with Okta, Playtech, Mobiquity and Fountain extend Jumio’s reach to more enterprises and gaming companies.

Jumio launched Address Validation and Face Lookup for synthetic fraud prevention, as well as a new customer portal and digital copy protection, and the company’s Information Security Management System (ISMS) achieved ISO 27001 certification. A new chief revenue officer and vice president of people and culture joined the team, and Jumio was recognized as a great place to work, for its ability to prevent account takeovers, as a gold winner in the AI security and fastest growing cybersecurity company categories, and with a Silver Stevie Award for Fastest Growing Tech Company of the Year and Most Innovative Tech Company of the Year with up to 2,500 employees.

Article Topics

biometrics  |  facial recognition  |  financial results  |  identity verification  |  Jumio  |  KYC  |  remote authentication