Jumio unveils KYX Platform; enables customized onboarding & eKYC experience

By Pavithra R

Jumio, AI-powered online identity verification and authentication services company, has announced the launch of Jumio KYX Platform, a unified platform that adapts to the unique needs and risks of organizations. 

The new platform lets modern enterprises to verify user identities for onboarding, safeguard existing accounts and mitigate financial crime risk. Jumio, through the launch, is knocking down one of the biggest hurdles to digital transformation- the identity verification and eKYC process. The platform enables global organizations 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. 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,” said Robert Prigge, Jumio’s CEO.

The Jumio KYX Platform includes three layers designed to establish, maintain and reassert trust with remote users.

1. The KYX Engine: Includes a number of interwoven features, including UX, state-of-the-art AI/ML, custom workflows, global coverage and bank-grade security.
2. Identity Proofing and Corroboration: the KYX Platform includes the identity proofing services such as address services, identity verification, biometrics, fraud, databases, and signals (coming soon).
3. Authentication and AML Monitoring: On creation of the account, Jumio offers a number of services designed to safeguard the account against account takeover and empower compliance teams to make better decisions and mitigate the threat of money laundering and other financial crimes.

Jumio’s KYX Platform will enable growing companies to create highly customized onboarding and eKYC experience based on their unique use cases, risk appetite and budget. 

Founded in 2010, Palo Alto-based Jumio uses informed AI to deliver identity verification and has replaced outdated KBA and SMS-based 2FA with a biometric-based approach ensuring strong customer authentication. The company by leveraging advanced technology including informed AI, biometrics, machine learning, certified 3D liveness detection and human review, helps organizations meet regulatory compliance including KYC, AML and GDPR and establish the digital identity of their customers.