Jumio has passed a major milestone, and is now processing more than 1 million verification requests on a daily basis. The company has already authorized 100 million transactions since the start of the year, most of which were cleared through a fully automated procedure.
The figures reflect Jumio’s expanding customer base, and the increase in overall traffic that comes with it. The company is currently on pace to beat last year’s record performance, with year-to-date revenue that is 118 percent higher than it was for the comparable period in 2020.
“Scaling to meet this explosive growth has required both innovation and execution. We have even had customers transferring volumes from other identity verification providers that are unable to scale and keep up with their high volumes,” said Jumio Chief Product Officer Bala Kumar. “Powered by automation and an infrastructure that is faster and more reliable than ever, we are excited about the benefits that Jumio’s next-generation innovations will unlock.”
Jumio is working to improve its technology with the help of $150 million in funding from Great Hill Partners. The automated Jumio Go solution recently picked up a gold medal at the Cybersecurity Excellence Awards, giving the company a win at the awards for the third consecutive year. Jumio has also formed a strategic partnership with Veridium, and is encouraging businesses in every sector to deploy better anti-money laundering technology.
May 18, 2021 – by Eric Weiss