eKYC Solution Provider Jumio Announces Record New Account Growth

eKYC Solution Provider Jumio Announces Record New Account Growth

by July 30, 2020
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Jumio, a renowned provider of AI-powered end-to-end identity verification and authentication solutions, today announced the biggest quarter for customer growth in the company’s history. Jumio says its growth was spurred by financial services and healthcare organizations which were forced to accelerate digital transformation in light of the COVID-19 pandemic.

The second quarter was marked by a number of milestones for the company. Market trends shifting to telehealth and remote new account onboarding fuelled significant gains in new business growth, which collectively grew by more than 100% year-over-year. Moreover, business from Jumio’s ecosystem partners increased tenfold in Q2 over first quarter levels, which speaks to the growing importance of this emerging channel.

The company is seeing big wins in South East Asia especially in the Philippines market where its solutions being used by six of the top banks in the Philippines.

Robert Prigge

Robert Prigge

“The global COVID-19 pandemic has suddenly accelerated the need for organizations to transform and respond to an unprecedented change in customer behavior and market risks – with extensive digitization being one of the key enablers of such change,”

said Robert Prigge, Jumio’s CEO.

“It’s imperative for enterprises to build in the necessary operational resiliency to survive this new reality. And that resiliency starts with remote onboarding and enabling organizations to create accounts online without having to visit a branch office or retail outlet.”

At the start of the pandemic, Jumio launched the Jumio Go for Good program to empower organizations involved in COVID-19 relief and assistance. The free program was designed to help eligible organizations quickly and accurately “identity proof” their patients, students and workers to ensure critical services are delivered. This program was responsible for helping a number of healthcare, financial services and online education institutions manage the increased demand for their services spurred by the pandemic.

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