Jumio added a record number of new customers to its roster in the second quarter of 2020. The digital identity specialist attributed much of that growth to the sudden rise of the remote working ecosystem, which is in turn the result of the COVID-19 pandemic.
In that regard, Jumio noted that social distancing protocols spurred digital transformation as companies were forced to embrace work-from-home setups to slow the spread of the coronavirus. That created a much higher demand for remote identity verification solutions, especially in heavily regulated industries like healthcare and financial services that have strict privacy and identity requirements.
Jumio, of course, is the developer of remote onboarding solutions that use face and document recognition to verify someone’s identity when they open a new account. The company’s year-over-year new business growth was up more than 100 percent for the second quarter, while overall business from its ecosystem partners went up by a factor of ten between Q1 and Q2.
“The global COVID-19 pandemic has accelerated the need for organizations to transform and respond to an unprecedented change in customer behavior and market risks,” said Jumio CEO Robert Prigge. “It’s imperative for enterprises to build the operational resiliency to survive this new reality. That starts with remote onboarding and enabling organizations to create accounts online without having to visit a branch office or retail outlet.”
Some of Jumio’s new customers signed up through the company’s Jumio Go for Good program, which made the automated Jumio Go solution available for free for emergency responders and other essential services working to mitigate the effects of the pandemic. Healthcare organizations could use the technology to facilitate telehealth, while financial services and educational institutions could use it to handle the sudden influx of mobile users.
July 28, 2020 –by Eric Weiss