Jumio’s face biometrics platform tops 1M verifications per day
According to the company, the exponential growth in the daily use of its biometric solution has coincided with a rapid revenue increase for the firm.
In fact, with more than 100 million transactions in 2021 alone, the firm is now reporting a year-to-date (YTD) revenue growth of more than 118 percent per year.
“Scaling to meet this explosive growth has required both innovation and execution,” commented Jumio’s new chief product officer Bala Kumar. “We have even had customers transferring volumes from other identity verification providers that are unable to scale and keep up with their high volumes.”
Jumio has also recently updated its identity verification platform to introduce advanced anti-spoofing capabilities via a dedicated Face Lookup feature, which flags potential fraudulent activity performed by the same face across multiple biometric identity verification attempts.
“Powered by automation and an infrastructure that is faster and more reliable than ever, we are excited about the benefits that Jumio’s next-generation innovations will unlock,” Kumar concluded.
Spurred by a recent $150 million investment led by Great Hill Partners, Jumio has closed a number of biometrics partnerships in the last few months.