Jumio expands market leadership position and grows sales 45% as regulators around the world become more comfortable with eKYC and digital onboarding of an increasingly mobile-centric consumer base.
PALO ALTO, Calif., Aug 2 (Bernama-BUSINESS WIRE) -- Jumio, the leading AI-powered trusted identity as a service provider, today announced the largest sales quarter in the company’s history, ending June 30, 2019, by growing 45% in sales over the same quarter last year. This growth was spurred by broader global adoption of eKYC and AML regulations which is enabling more financial institutions to onboard new customers remotely without requiring them to visit a local branch office.
The popularity of KYC and AML compliance solutions is surging as regulatory pressure across the globe drives financial service organizations to digitally onboard new customers with online identity verification solutions. At the same time, banks are exploring how to deliver a compelling onboarding experience that is simple, intuitive, and can be efficiently integrated into their existing workflows to optimize conversion rates and reduce abandonment.
“This Q2 growth demonstrates how our focus on verification accuracy, speed and innovation is helping us meet the needs of modern enterprises who now, more than ever, need a reliable means of proving that someone is who they claim to be online,” said Robert Prigge, Jumio president. “An ever-growing number of consumers are opening new accounts on mobile devices, which is accelerating eKYC initiatives and making Jumio’s identity verification solutions an indispensable ingredient to the onboarding process.”
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