Jumio Introduces Orchestration for its KYX Platform to Provide Comprehensive View of Consumer Identities and Risk

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Jumio Introduces Orchestration for its KYX Platform to Provide Comprehensive View of Consumer Identities and Risk

Jumio, the provider of AI-enhanced identity verification, eKYC, and AML solutions, announced the launch of a no-code orchestration layer for its KYX Platform that “unifies an entire set of risk and fraud detection capabilities to address identity proofing, compliance verifications, and AML use cases.”

As mentioned in a release shared with CI, Jumio pioneered the ID + selfie approach to identity verification and is now “significantly expanding its platform capabilities for business customers. ”

The announcement also mentioned that the KYX Platform will offer multi-layered, end-to-end risk detection with flexible workflows, “increasing visibility by showing a holistic view of the consumer identity and any underlying risk.”

As fraudsters become more sophisticated, businesses are having to “layer in countless risk signals from multiple vendors in an attempt to protect their ecosystems,” the announcement revealed.

The Jumio KYX Platform addresses these key pain points by “enabling its customers to orchestrate the controls and assurances needed to know and trust their end users — all through a single API layer powered by AI and automation, achieving record high catch rates and low false positives,” the update explained.

Jumio CEO Robert Prigge stated:

“Jumio’s next-generation KYX orchestration platform reimagines the process from one-off authentication to holistic user recognition and verification. Rather than treating all users as potential threats, the platform puts the business customer at the center of the verification process. This delivers a more seamless user experience that verifies consumer or employee data coupled with enhanced authentication using a document such as a government-issued ID.”

With the addition of an orchestration layer, Jumio’s platform leverages its identity verification technology to “address today’s market challenges caused by the rampant theft of personally identifiable information (PII) via large-scale data breaches,” the announcement noted.

Jumio’s ability to quickly verify and validate consumers, via government-issued IDs and other data sources and risk signals, “completely differentiates the next-generation KYX Platform from other providers who rely on data that have been compromised in breaches,” the update noted.

The engine behind the platform “allows enterprises to create custom risk and fraud workflows using a no-code interface and presents a unified risk score to provide a single outcome across multiple risk checks,” the announcement explained.

Bala Kumar, Chief Product Officer at Jumio, added:

“Our intent is to take the heavy lifting of fraud prevention out of the hands of our customers. By leveraging our KYX Platform, complete with flexible workflows, no-code orchestration and multi-layered risk signals, organizations can assess not only the risk of the individual, but also the devices associated with them, the IDs they furnish and their facial biometrics — all in one platform through a single API layer,”

Latin American Fintech platform, Rappi, is one of the first Jumio clients to “sign up for early access to the next-generation Jumio KYX Platform,” the announcement noted.

As previously reported, Jumio’s goal is to make the Internet a safer place by “protecting the ecosystems of businesses through a unified, end-to-end identity verification, eKYC and AML platform.”

The Jumio KYX Platform provides identity proofing and AML services to “accurately establish, maintain and reassert trust from account opening to ongoing transaction monitoring.”

Leveraging AI, biometrics, machine learning, liveness detection, and automation, Jumio assists organizations with combatting fraud and financial crime, onboard good clients a lot faster, and satisfying regulatory compliance requirements.

Jumio has carried out over 400 million verifications spanning more than 200 countries and territories “from real-time web and mobile transactions.”

Based in Palo Alto, Jumio operates internationally with offices in North America, Latin America, Europe, and the Asia Pacific.

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