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Jumio biometrics and identity proofing sales up 140 percent as growth streak extends

Jumio biometrics and identity proofing sales up 140 percent as growth streak extends

Jumio has continued its run of strong financial results with sales growth above 140 percent for its end-to-end identity proofing with face biometrics for know your customer and anti-money laundering checks.

An earnings announcement for the first quarter of Jumio’s fiscal 2022 shows the common need for public and private organizations alike to know and trust the identity of their end users online, the company says. Jumio’s KYX Platform provides biometric user onboarding, authentication and transaction monitoring to deliver that trust.

Revenues were also up more than 130 percent for Jumio on a year-over-year basis in the fourth quarter of fiscal 2021.

Jumio attributes the strong growth to momentum in government and financial services, and its partnership initiatives.

“Government agencies are changing their mindset and now truly understand the need to implement cutting-edge identity verification technology in order to prevent scammers from impersonating unknowing citizens and to know with a high level of assurance that only legitimate end users are accessing benefits and services,” states Robert Prigge, Jumio CEO.

Highlights during the part quarter for Jumio include being named as a Gartner Representative Vendor for Identity Proofing and Affirmation for the fourth time, the appointment of its first sales leader in the Middle East, Turkey and North Africa region, and taking home a gold and a silver from the 2022 Cyber Security Global Excellence Awards for its biometric KYX Platform.

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