SUNNYVALE, Calif.--(BUSINESS WIRE)--Jumio, the leading provider of automated, end-to-end identity verification, risk assessment and compliance solutions, has been recognized as a Representative Vendor for the fifth consecutive time in the latest Gartner Market Guide for Identity Verification,1 published on September 7, 2023.
Jumio was named as a Representative Vendor among other identity verification vendors. “The listed vendors in this research represent what’s core in the market, what extends it and what will transform it,” stated the Market Guide.
Vendors were selected on the basis of one or more of the following criteria:
- Vendors offering capabilities that support identity verification in ways that are unique, innovative and/or demonstrate forward-looking product strategies.
- Frequent inquiries by Gartner clients about a particular vendor for identity verification use cases.
- Vendors that represent particular market segments or geographic regions, thus helping to illustrate the breadth of the market.
- Fair representation from year to year, with rotation of vendors that may have previously met the above requirements, but were omitted simply due to space restrictions.
As defined in the Market Guide, “the purpose of identity verification is to establish confidence in the identity of a user during a digital interaction. As a result, across all geographies and industries, the use cases in which identity verification is required in the market today have become broad in scope. This is accelerating as the pace and reach of digital transformation continue to expand the scope of digital interactions for both customers and workforce.”
The Market Guide also highlights growing concerns around generative AI and deepfake technologies, with Gartner reporting a significant increase in clients asking about the integrity of identity verification now that attackers could be using deepfakes.
“Security and risk management leaders must make deepfake detection a key requirement, and should be suspicious of any vendor that is not proactively discussing its capabilities in this respect,” the Market Guide states.
“We think that the Market Guide reinforces what we believe to be true: that the rise of deepfakes warrants a stronger form of identity verification, and that organizations must adopt multimodal biometric authentication, multi-modal liveness checks, deepfake detection models, as well as technologies to prevent presentation and injection attacks,” said Stuart Wells, chief technology officer at Jumio.
Jumio was also recently recognized as a Representative Vendor in the 2023 Gartner Market Guide for User Authentication, published on August 23, 2023.
To read the entire 2023 Gartner Market Guide for Identity Verification, click here.
1Source: Gartner Market Guide for Identity Verification, Akif Khan, 7 September 2023.
Note: The report title was changed from Market Guide for Identity Proofing and Corroboration to Market Guide for Identity Proofing and Affirmation in 2020 and changed to Market Guide for Identity Verification in 2023.
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Jumio helps organizations to know and trust their customers online. From account opening to ongoing monitoring, the Jumio KYX Platform provides advanced identity proofing, risk assessment and compliance solutions that help you accurately establish, maintain and reassert trust.
Leveraging powerful technology including automation, biometrics, AI/machine learning, liveness detection and no-code orchestration with hundreds of data sources, Jumio helps you fight fraud and financial crime, onboard good customers faster and meet regulatory compliance including KYC and AML. As the industry leader, Jumio has processed more than 1 billion transactions spanning over 200 countries and territories from real-time web and mobile transactions.
Based in Sunnyvale, California, Jumio operates globally with offices and representation in North America, Latin America, Europe, Asia Pacific and the Middle East and has been the recipient of numerous awards for innovation. Jumio is backed by Centana Growth Partners, Great Hill Partners and Millennium Technology Value Partners.
For more information, please visit jumio.com.