Jumio’s KYX Platform has been named the “Best Fraud Prevention Solution” in the 2023 Tech Ascension Awards. KYX has now won numerous industry awards, including a couple of Globee Cybersecurity Awards earlier this year.
First launched in September of 2020, the platform built on Jumio’s selfie-based onboarding and authentication technologies, adding AI capabilities and custom workflows. Jumio’s aspiration was to offer a comprehensive, “Know Your Everything” solution that would let businesses verify not only customers but employees, contractors, and even other businesses that they work with.
Jumio further upgraded the KYX platform in 2021 with a new orchestration layer that would allow clients to set up workflows without the need for any coding. A centralized dashboard offered immediate access to customer identity and risk screening information, while a risk score would deliver a clear signal regarding any potential fraud threat.
From there, the platform went on to benefit from Jumio’s acquisition of the German startup 4Stop in 2022. 4Stop specialized in collecting data from hundreds of sources, which could then be leveraged to get further intelligence about potential fraud threats. That offered a further boost to KYX’s capabilities when it was integrated into the platform.
All of this helped the platform and Jumio itself to collect accolades, with the 2023 Tech Ascension Awards delivering the latest. The Tech Ascension Awards program assesses financial technologies based on a number of factors including innovation and competitive differentiation.
“The Jumio KYX Platform provides businesses with the most comprehensive coverage to prevent the newest and most complex forms of fraud, while streamlining the user experience,” commented Jumio CEO Robert Prigge. “This win further validates Jumio’s commitment to putting an end to global fraud and building a more trustworthy digital world.”
October 25, 2023 – by Alex Perala