Jumio Sets Market Pace with New Business and Record Q1 Results
Netverify Trusted Identity as a Service Delivers on the Core Pillars for Identity Verification Success
PALO ALTO, CA and LONDON, UNITED KINGDOM--(Marketwired - Apr 26, 2017) - Jumio , the creator of Netverify® Trusted Identity as a Service (TIaaS) , announces another momentous quarter, with Q1 2017 showing 47 percent growth in annual recurring revenue (ARR) year-over-year. Jumio's net new growth was driven by an influx of enterprise accounts; the company closed the most enterprise accounts in a given quarter and set new all-time records in daily transaction volume.
Jumio's customer base continues to expand as a result of its comprehensive approach to identity verification. With Netverify Trusted Identity as a Service and the core pillars for identity verification success -- ID Verification, Identity Verification and Document Verification -- Jumio is providing customers the flexible solutions they need to meet their identity verification challenges.
The advanced technology of Netverify Trusted Identity as a Service includes biometric facial recognition and face matching, which have contributed to Jumio's more than 200 percent growth year-over-year. This growth is a result of customers adopting more advanced identity verification processes that can align the digital ID to the real-world identity.
"Our expanding global customer base relies on Jumio to provide leading identity verification solutions that are designed to conduct business in a digital world," said Stephen Stuut, CEO, Jumio. "Netverify Trusted Identity as a Service and the addition of Document Verification are additional steps in enabling our customers to comply with regulations such as AML, KYC and PSD2, and to design identity verification processes that provide safe and secure transactions as well as a great customer experience."
Announced in Q1 2017 and featured at Finovate Spring , Jumio's Netverify Document Verification provides an additional layer of identity verification. The solution offers users an easy and near-flawless way to scan critical documents such as utility bills, which provide proof of address, or bank statements, which provide pertinent information such as account balance and account number that helps with KYC and AML requirements. With Netverify Document Verification, users can scan folded, wrinkled or even crumpled documents and the data is extracted with near-flawless results.
Jumio, the creator of Netverify® Trusted Identity as a Service (TIaaS), enables businesses to increase customer conversions while providing a seamless customer experience and reducing fraud. By combining the three core pillars of ID Verification, Identity Verification and Document Verification, businesses now have a complete solution that allows them to establish the real-world identity of the consumer. Leveraging advanced technology including biometric facial recognition and machine learning, Jumio helps customers to meet regulatory compliance, including KYC and AML, and tie the digital identity to the physical world. Jumio has verified more than 50 million identities issued by over 200 countries from real time web and mobile transactions. Jumio's solutions are used by leading companies in the financial services, sharing economy, higher education, retail, travel and online gaming sectors. Based in Palo Alto, Jumio operates globally with offices in the US and Europe, and has been the recipient of numerous awards for innovation.
For more information please visit www.jumio.com .
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