Jumio‘s KYX Platform has won the company a couple of important new accolades. In the 2022 Cyber Security Global Excellence Awards, the ‘Know Your Everything’ platform took a Gold award in the category of fraud prevention and Silver in the category of AI in security.
The Cyber Security Global Excellence Awards represent one of the 11 annual awards programs organized by The Globee Awards in a program that has been running since 2003. Over 55 judges from around the world participate in the award program, assessing cybersecurity solutions and technology for innovation and quality.
KYX evidently stood out. First launched in September of 2020, the KYX Platform is aimed at helping organizations to comply with a wide range of Know Your Customer and Anti-Money Laundering regulations. Building on Jumio’s face-based onboarding and authentication technology, the platform offered additional tools in service of the ambitious goal of enabling organizations to verify any entity interacting with their business.
In October, the KYX solution was further upgraded through the implementation of an ‘orchestration layer’ that added risk scoring capabilities and enabled clients to build custom workflows.
The robust platform has proven appealing amid growing concerns about cyberthreats, says Jumio CEO Robert Prigge. “Today’s tech-savvy cybercriminals have the knowledge and tools to conduct sophisticated remote attacks,” he said. “Consequently, organizations have been heavily relying on Jumio’s KYX Platform to remotely verify users and defend their operations from fraudulent transactions.”
As for the Cyber Security Global Excellence Award wins, Prigge said the recognition “validates our strategic vision to redefine the end-to-end identity industry by helping organizations instill trust in their online channels, meet AML and KYC compliance and fight fraud and financial crime.”
The award wins come after a fiscal update in January in which Jumio reported that revenues had doubled year-over-year. That momentum was complemented by the news that Jumio had completed its acquisition of 4Stop, a German startup that has built a data management hub platform.
March 3, 2022 – by Alex Perala