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Jumio announces best-ever quarter by biometrics sales, transactions

Widespread digitization and remote onboarding adoption drive gains
Jumio announces best-ever quarter by biometrics sales, transactions

Jumio recently completed its most lucrative sales quarter in company history in its fiscal third quarter of 2020, and recorded its most-ever biometric transaction verifications, the company has announced.

Accelerated digital transformation efforts by bank, financial services, healthcare and education customers boosted Jumio’s verification totals, and the company points to its addition of key channel partners including Microsoft Azure Active Directory, Oracle Asia, Cognizant and Netpolean Solution. The channel contributed a collective 20 percent to Jumio’s big Q3.

Other highlights in the quarter include the launch of the Jumio KYX Platform and the acquisition of Beam Solutions and its anti money-laundering (AML) technology.

Customer wins during the quarter include a leading video-sharing app, a U.S. non-profit healthcare provider, a blockchain company, and several large, multi-state community banks, according to the announcement.

“Jumio’s monumental growth is a testament to our mission to make the internet a safer place by protecting the ecosystems of businesses through cutting-edge online identity verification, KYC and AML monitoring services,” said Robert Prigge, Jumio CEO. “We are excited to harness this quarter’s momentum and the Beam acquisition to fuel our next stage of growth as we help organizations know and trust their online customers.”

The pandemic, and its impact on organizations’ account opening and KYC processes, provided fuel for Jumio’s growth, along with the general shift away from data-driven approaches in the face of large-scale data breaches.

The company was also recognized as a Representative Vendor in Gartner’s ‘Market Guide for Identity Proofing and Attribution’ for the third year in a row.

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