In 2009, after successfully building Jajah, it was clear what had to be done: The main threat – and unsolved problem – for the entire online industry is the lack of an airtight user authentification system. Based on a patent from two engineers from Israel, Daniel Mattes went on to disrupt the ID verification market and incorporated Jumio. Backed with an $25M investment from tier-1 venture capital firm Andreessen Horowitz, the company launched NetSwipe and NetVerify, two solutions using the mobile phone’s camera to scan ID cards, passports or credit cards, matching the ID picture with the real face of the user, using AI based biometrical analytics and liveliness detection to accurately verify and identify a user.
Leveraging advanced technology including augmented intelligence, AI, biometrics, machine learning, certified 3D liveness detection and human review, Jumio helps organizations meet regulatory compliance including KYC, AML and GDPR and definitively establish the digital identity of their customers. Jumio has verified more than 170 million identities issued by over 200 countries and territories from real-time web and mobile transactions. Jumio’s solutions are used by leading companies in the financial services, sharing economy, digital currency, retail, travel and online gaming sectors. Based in Palo Alto, Jumio operates globally with offices in North America, Latin America, Europe and Asia Pacific and employees more than 3,500 people.
To guard against fraud Jumio has built two large AI networks to bolster its security. These neural networks teach themselves about fraud and its many mechanisms, from millions of examples fed over a several month test period. And further, real world examples will strengthen the security over time. It’s this AI that makes Jumio’s video scanning technology so effective at weeding out fraudsters and also so quick to process payments and ID verifications.
Jumio was recognized for leading the market with innovative authentication technology, pioneering AI innovation and staying a step ahead of fraudsters by empowering organisations of all sizes and types with the tools to safeguard their ecosystems and better protect the identities of their users.
Jumio’s solutions have been continuously awarded, for example with the 2019 Fortress Cyber Security Award for Authentication and Identity, 2019 SIIA CODiE Awards finalist, Silver and Bronze Stevie Award Winner in 2019 American Business Awards, Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2019 and was honoured both as the 29th-ranked company globally and the second-ranked company in the Security category, Business Intelligence Group’s 2019 Artificial Intelligence Excellence Awards, 2019 Cybersecurity Excellence Awards, Best Product in Biometrics, Best Product Fraud Prevention and Market Leader in Compliance by the InfoSec Awards, Best Place to Work by Business Intelligence Group or the Best Places to Work in FinTech by SourceMedia.
Jumio Authentication is the first video-selfie authentication solution in the market to combine facial biometrics for initial identity proofing and ongoing user authentication. The solution enables companies to use the same biometric (a 3D face map) to corroborate the identities of new online customers and the identities of existing users. This secure and rapid authentication method is ideal for account logins and high-risk scenarios including wire transfer attempts and password resets in order to overcome the shortcomings and security vulnerabilities of traditional authentication methods (e.g., knowledge-based authentication and SMS-based two-factor authentication).
Jumio Screening is a fully automated anti-money laundering (AML) screening solution that integrates ComplyAdvantage, a dynamic real-time database of people and companies that pose financial crime risk. Jumio Screening helps businesses make the right AML decisions with comprehensive global coverage of sanctions, watchlists, PEPs and adverse media.
Data security and system integrity is at the heart of every financial and KYC transaction, and recognizing that, Jumio has invested heavily in building a highly secure and reliable platform. Jumio is PCI Level 1 compliant and regularly conducts security audits, vulnerability scans and penetration tests to ensure compliance with security best practices and standards. To demonstrate PCI compliance a yearly on-site validation assessment by a QSA is carried out. Jumio carries the security controls established to achieve PCI compliance over to PII data which is of comparable sensitivity and has extended the scope of such controls to cover and protect all systems used to transmit/process/store PII data. Doing so, provides Jumio with a coherent and independently tested set of security policies/processes/controls and enables Jumio’s customers to gain confidence that their data – be it credit card or PII – is handled in a secure manner throughout its lifetime.
“We’ve enabled Jumio’s real-time instant verification solution, Netverify to enhance our trust & safety efforts. It was easy to implement and the latest platform offers a fresh clean design and an intuitive user interface.”
“We had what we thought was a crazy idea to automate the identity verification process and Jumio brought the idea to life.”
“At easyJet we’re all about making travel easy and after the hugely positive feedback we got from our new check-in process, the next step was to bring Jumio’s scanning technology into the booking process. In the two weeks since its launch, we have already seen a huge uptake by customers and, again, are enjoying great feedback making it even easier to book to over 130 destinations.”
“We wanted a service that was simple to use and had robust security protocols. Jumio ticked all the boxes. Of critical importance was the ability to verify IDs from so many different territories. With one quarter of the population of Switzerland being born outside of the country, we didn’t want to disenfranchise 25% of our potential market. Thanks to Jumio, anyone can now use our service.”
“Our objective has always been to strengthen our abilities to mitigate these risks, secure the money and protect the identities of customers. We are glad to associate with Jumio for their Netverify® solution as it will facilitate digital identification and face recognition for our online portals. These solutions are at present being customised and integrated with our own technology architecture.
National Crime Check
“With Jumio, our users move from a manual process to a highly automated 100% online process and it all points back to leveraging innovation and technology for a great customer experience.”
“By adding Jumio’s Netverify® into the customer verification process, we are making life quicker and easier for our customers, minimising fall-out from lengthy verification processes and removing costly man hours where we have to receive and review documents manually.”
“Jumio enables us to cut the time it takes to verify new customers from days to seconds, through the ease of submitting documents via their document verification tool. This facilitates the company’s further expansion, while also assisting us to remain fully compliant with KYC and AML legislation in all of the relevant jurisdictions.”
“As Monzo continues to grow and pursue new markets, we know that Jumio will scale with our business and continue to provide an essential service — helping Monzo create the best-possible experience for our banking customers while fighting financial crime.”