Integrated orchestration hub puts power in the hands of business users with the most robust portfolio of data sources, customizable rules engine and analytics to defend against fraud at the speed of business


LAS VEGAS, Oct 25 (Bernama-BUSINESS WIRE) -- Jumio, the leading provider of end-to-end identity proofing, risk assessment and eKYC/AML compliance solutions, today unveiled at Money20/20 USA its extended Jumio KYX Platform, with an integrated orchestration hub benefiting from the company’s acquisition of 4Stop. The platform streamlines fraud and eKYC/AML compliance management with the intuitive one-stop orchestration hub, which brings together global data, risk signals, real-time analytics, actionable insights and a configurable rules engine to help businesses defend against fraud without compromising user experience. With over one billion identity, risk and AML transactions completed for over 1,000 organizations in more than 200 countries and territories, Jumio is delivering on its promise to eradicate online identity fraud and accelerate digital trust for all.

Organizations today must detect and respond to increasingly sophisticated fraud attacks quickly and accurately to reduce business impact while also maintaining customer trust. According to recent global Jumio research, 80% of consumers prefer the assurances delivered by digital identity verification measures when choosing online brands.

Unfortunately, many organizations rely on a plethora of point solutions to evaluate the fraud risk across the user journey. This creates friction in the onboarding process and can lead to transaction abandonment. The ever-present threat of new fraud vectors and constant change of compliance mandates across the globe complicate the organization’s ability to keep up, forcing them to deploy considerable internal resources to manage fraud and compliance.

“Businesses’ ability to effectively manage fraud by stitching together myriad point solutions is no longer sustainable amidst increasingly robust attacks and IT resource constraints,” said David Mattei, strategic advisor at Aite-Novarica Group. “In addition to enabling organizations to fight fraud in real time as the threat landscape evolves, orchestration platforms provide greater agility to respond to fraud and are simple to use. In fact, our research shows that global fraud executives whose fraud solutions are integrated were two times more likely to report that managing fraud was ‘somewhat to very easy’ versus those whose fraud tools were not integrated.”

The Jumio KYX Platform helps businesses know and trust their users, players, patients — whoever the “X” is in their business — online. Its intuitive orchestration hub assists professionals tasked with protecting the organization and its customers from fraud, money laundering and other financial crimes during account onboarding, authentication and ongoing transaction processes.

The platform includes:

“Our customers trust us to safely and quickly move their money around the globe,” said Tom Mazzaferro, Western Union chief data & innovation officer. “Whether they want to transfer money via the Western Union app, or at our retail locations, Jumio helps us to minimize fraud, maintain eKYC compliance standards from a single platform and improve overall customer experience. We look forward to continuing our partnership with Jumio as we launch new products and services to serve the needs of our customers even better, while improving their overall experience.”

“By putting business users at the center of the verification process and providing them with a holistic view of incoming threats as they occur, Jumio allows organizations to bypass the standard set-up of disparate point solutions that slow down the ability to fight fraud and serve customers,” said Bala Kumar, Jumio chief product officer. “With Jumio, businesses save time and money while effectively defending against fraud at the speed of business.”

“The new innovations and scope of Jumio’s extended KYX Platform is proof of our unwavering commitment to eliminating digital fraud,” said Robert Prigge, Jumio CEO. “Jumio continues to lead the industry with solutions powered by AI, biometrics and other innovations that help organizations outpace tech-driven fraud advancements, which are expanding in terms of volume, origin and sophistication.”

Learn more about Jumio at Money20/20 USA:

Come visit Jumio at Money20/20 USA, booth #2103, where identity and fraud experts will demo the Jumio KYX Platform.

To schedule a meeting, click HERE.

About Jumio

Jumio helps you know, then trust your customers online. From account opening to ongoing monitoring, the Jumio KYX Platform provides advanced identity proofing, risk assessment and compliance solutions to accurately establish, maintain and reassert trust.

Leveraging advanced technology including automation, biometrics, AI/machine learning, liveness detection and no-code orchestration with hundreds of data sources, Jumio helps organizations fight fraud and financial crime, onboard good customers faster and meet regulatory compliance including KYC and AML. Jumio has processed more than 1 billion transactions spanning over 200 countries and territories from real-time web and mobile transactions.

Based in Palo Alto, Jumio operates globally with offices in North America, Latin America, Europe, Asia Pacific and the Middle East and has been the recipient of numerous awards for innovation. Jumio is backed by Centana Growth Partners, Great Hill Partners and Millennium Technology Value Partners.

For more information, please visit jumio.com.

View source version on businesswire.com: 
https://www.businesswire.com/news/home/20221024005165/en/

Contact

U.S. Media Contact
Diana Gallagher
10Fold Communications
jumio@10fold.com
408-656-9699

Europe Media Contact
Gemma Lingham
FleishmanHillard UK
gemma.lingham@fleishman.com
+44-752-569-9347

APAC Media Contact
Luke Nazir
FINN Partners
Luke.Nazir@finnpartners.com
+65 8139 2504

LATAM Media Contact
Karina Durán
Nasci Comunicación
karina@nasci.com.mx
+52 55 5139 5482

Source : Jumio

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