Jumio, the leading digital ID verification company the creator of Netverify® Trusted Identity as a Service (TIaaS), announced that it has been selected as the winner of the FinTech Breakthrough Award in the Best Fraud Prevention Platform category. FinTech Breakthrough recognized Jumio’s Netverify® Trusted Identity as a Service offering, which provides ID Verification, Identity Verification and Document Verification, for its advanced technology approach in biometric facial recognition and computer learning.
The FinTech Breakthrough Awards provides recognition to financial technology companies who excel in creativity, excellence, and hard work for an exponentially growing fintech industry. Winners were selected by a panel of FinTech Breakthrough judges that consists of journalists, analysts, technology executives and other fintech professionals.
“Jumio set itself apart in the fraud prevention category by demonstrating key innovation with its biometric facial recognition and document verification capabilities,” said James Johnson, Managing Director at FinTech Breakthrough at FinTech Breakthrough Awards. “Their innovation in addressing the challenge of ensuring accurate ID verification while delivering a seamless customer experience is noteworthy.”
Jumio’s Netverify Trusted Identity as a Service helps businesses improve the customer experience, while reducing fraud. Jumio’s identity verification technology benefits customers in not only the financial services space but also the sharing economy, travel, gaming, retail and other industries. Jumio’s Trusted Identity as a Service uses an all-in-one solution that ensures the user’s physical identity matches the real world identity.
“We are extremely proud to be named the winners of the Best Fraud Prevention category for the FinTech Breakthrough Awards,” said Jumio CEO Stephen Stuut. “The world of identity verification is becoming increasingly complex as fraudsters find new ways to exploit individuals and businesses for their own gain. In the U.S. alone, fraud increased 16 percent in 2016 — this is a critical issue no matter what business you’re in. This award is a testament to how innovations such as Jumio’s Netverify Trusted Identity as a Service are changing the way we establish trust through our mobile and web devices.”
Jumio, the creator of Netverify® Trusted Identity as a Service (TIaaS), enables businesses to increase customer conversions while providing a seamless customer experience and reducing fraud. By combining the three core pillars of ID Verification, Identity Verification and Document Verification, businesses now have a complete solution that allows them to establish the real-world identity of the consumer. Leveraging advanced technology including biometric facial recognition and machine learning, Jumio helps customers to meet regulatory compliance including KYC and AML and tie the digital identity to the physical world. Jumio has verified more than 50 million identities issued by over 200 countries from real time web and mobile transactions. Jumio’s solutions are used by leading companies in the financial services, sharing economy, higher education, retail, travel and online gaming sectors. Based in Palo Alto, Jumio operates globally with offices in the US and Europe, and has been the recipient of numerous awards for innovation.