PALO ALTO, Calif., Aug 2 (Bernama-BUSINESS WIRE) — Jumio, the leading AI-powered trusted identity as a service provider, today announced the largest sales quarter in the company’s history, ending June 30, 2019, by growing 45% in sales over the same quarter last year. This growth was spurred by broader global adoption of eKYC and AML regulations which is enabling more financial institutions to onboard new customers remotely without requiring them to visit a local branch office.
The popularity of KYC and AML compliance solutions is surging as regulatory pressure across the globe drives financial service organizations to digitally onboard new customers with online identity verification solutions. At the same time, banks are exploring how to deliver a compelling onboarding experience that is simple, intuitive, and can be efficiently integrated into their existing workflows to optimize conversion rates and reduce abandonment.