Jumio is boasting about its phenomenal sales results in the third quarter of 2020. The company did not disclose specific numbers, but indicated that the quarter that ended on September 30 was the best in company history.
Those strong sales corresponded with a similarly dramatic uptick in the volume of authentication transactions being performed with Jumio’s technology. Jumio verified a record number of individuals in the quarter, crediting the rising number of requests at least in part to the onset of COVID-19. The pandemic has generated more interest in remote onboarding alternatives, and prompted clients in industries like finance and healthcare to accelerate their digital transformations.
Other noteworthy Q3 accomplishments include the launch of the Jumio KYX platform and the company’s acquisition of Beam Solutions. Beam is the developer of an Anti-Money Laundering platform that will improve Jumio’s ability to monitor and prevent financial crime.
“Jumio’s growth is testament to our mission to make the internet a safer place through cutting-edge online identity verification, KYC and AML monitoring services,” said Jumio CEO Robert Prigge. “We are excited to harness this quarter’s momentum and the Beam acquisition to fuel our next stage of growth as we help organizations know and trust their online customers.”
The Q3 results build on the company’s equally strong performance in Q2, when Jumio added a record number of new users to its client roster. Jumio has since been named as a Representative Vendor in the annual Gartner Market Guide for Identity Proofing and Attribution for the third consecutive year, and started offering support for the Microsoft Azure Active Directory as an official channel partner.
The full list of Q3 Jumio customers includes a video sharing app, an Irish retail site, and a Colombian digital wallet start-up. The company has repeatedly advocated for the use of document-based forms of identification, instead of the data-based forms that have been popular in the past.