Jumio has launched an updated version of its KYX Platform that now features an integrated orchestration hub, thanks to the company’s acquisition of 4Stop. The orchestration hub helps to streamline AML and KYC compliance by leveraging widely sourced data and applying real-time analytics while scanning for risk signals.
Jumio first announced its acquisition of 4Stop in late 2021, noting that the German startup’s platform collects data from 650 sources around the world. That capability was seen as offering synergy with Jumio’s platform, which revolves around the use of facial recognition and document scanning to enable selfie-based identity verification.
The acquisition was completed in January, with Jumio CEO Robert Prigge proclaiming that Jumio was “once again disrupting the entire identity industry and redefining what modern organizations need in order to provide complete customer lifecycle management.”
Now, with 4Stop’s technology integrated into Jumio’s flagship platform, the company has unveiled its revamped KYX solution along with praise from one of its more high-profile customers. In a statement, Western Union’s Chief Data & Innovation Officer, Tom Mazzaferro, attested that “Jumio helps us to minimize fraud, maintain eKYC compliance standards from a single platform and improve overall customer experience.”
Jumio is showcasing its updated KYX Platform at this week’s Money20/20 event in Las Vegas, which runs until October 26.
October 24, 2022 – by Alex Perala