Jumio, the leading provider of AI-powered end-to-end identity verification and eKYC solutions, announced the launch of the Jumio KYX Platform, a unified platform that adapts to the unique needs and risks of organizations. The Jumio KYX Platform lets modern enterprises easily verify user identities for onboarding, safeguard existing accounts and mitigate financial crime risk.
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The Jumio KYX Platform knocks down one of the biggest hurdles to digital transformation for many organizations — the identity verification and eKYC process. Whether it’s a customer, user, patient, employee, business partner or student, Jumio helps modern enterprises know, then trust the ‘X’ in their business. The platform enables organizations around the globe to manage compliance requirements, such as KYC, AML and GDPR, by providing a layered approach to identity proofing and corroboration.
“Digital transformation is more than a buzzword. It’s today’s business imperative. To succeed, organizations must transform quickly and do it in ways that build trust, security and satisfaction,“ said Robert Prigge, Jumio’s CEO. “Businesses can tailor the Jumio KYX Platform to fit their unique needs and risks and tap into services that accelerate digital transformation without sacrificing security and convenience.”
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Three Layers to Jumio’s KYX Platform
The Jumio KYX Platform includes three layers designed to establish, maintain and reassert trust with remote users.
The KYX Engine: The engine behind the Jumio KYX Platform includes a number of interwoven features, including an award-winning UX, state-of-the-art AI/ML, custom workflows, global coverage and bank-grade security.
Identity Proofing and Corroboration: Organizations can layer in a number of identity services to increase the level of identity assurance and answer the fundamental questions: is the user who they claim to be online and is it safe to start doing business with them? Because many organizations rely on more than one identity-proofing method, it’s increasingly imperative for enterprises to intelligently orchestrate across these different capabilities.
By 2023, 75% of organizations will be using a single vendor with strong identity orchestration capabilities and connections to many other third parties for identity proofing and affirmation, which is an increase from fewer than 15% today (source: 2020 Gartner Market Guide for Identity Proofing and Affirmation).
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