Leading APAC telco catches over 50% more fraud attacks with new Cross-Transaction Risk capability

SUNNYVALE, Calif., April 23 (Bernama-BUSINESS WIRE) -- Jumio, the leading provider of automated, AI-driven biometric identity verification, risk signals and compliance solutions, today announced general availability of Cross-Transaction Risk, which helps businesses proactively detect fraud by connecting identity elements across the Jumio network.

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A key capability within the Jumio Identity Reputation suite, Cross-Transaction Risk enables organizations to strike the ideal balance between advanced fraud detection, seamless user experience and identity assurance. Traditional identity verification validates a user’s identity at a single moment in time, often when they are opening an account or conducting a transaction. Jumio Identity Reputation delivers deeper, ongoing intelligence by analyzing identity attributes and behaviors, starting at the signal level and evolving into real-time, network-powered recognition.

At the center of this evolution is the Jumio network, a privacy first, cross-customer intelligence network built on over 32 million known identities from both legitimate and fraudulent transactions. Many providers operate as data processors, which means they can only use fraud data to stay compliant with consumer privacy regulations such as GDPR. Jumio meets more stringent data privacy requirements and leverages both legitimate and fraudulent identity data with explicit end-user consent. This gives Jumio customers unmatched visibility into identity behavior and risk across Jumio’s ecosystem. To date, more than 400 Jumio customers have joined and are contributing to the unmatched strength of the Jumio network.

Cross-Transaction Risk is already making a significant impact, uniquely detecting an average of 28% more fraud attacks among enabled customers using the capability during early release. One such customer, a major APAC telco, faced a sophisticated, large-scale fraud attack in which fraudsters repeatedly used camera injection attacks and deepfake selfies in an attempt to open new accounts. Cross-Transaction Risk complemented existing fraud defenses and instantly detected the attack, uniquely rejecting over 50% of fraudulent ID transactions and adding a powerful additional layer of protection beyond traditional fraud controls for the customer.

“By connecting this vast amount of proprietary identity data and intelligence across customers, sessions and time, the Jumio network enables earlier fraud detection, faster onboarding for trusted users, and continuous monitoring of evolving risk,” said Jumio Chief Product and Technology Officer Bala Kumar.

To learn more about Jumio and its award-winning, AI-powered solutions, visit jumio.com.

About Jumio

Jumio helps organizations to know and trust their customers online. From account opening to ongoing monitoring, the Jumio Platform provides advanced identity verification, risk signals and compliance solutions that help you accurately establish, maintain and reassert trust.

Leveraging powerful technology including automation, biometrics, AI/machine learning, liveness detection and no-code orchestration with hundreds of data sources, Jumio helps you 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 Sunnyvale, California, Jumio operates globally with offices and representation 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 www.jumio.com.

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Contact

Media Contacts

U.S. Media Contact
Allison Knight
10Fold Communications
jumio@10fold.com
806-570-9819

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

Source : Jumio

--BERNAMA