SOURCE: Jumio

Jumio

September 18, 2013 08:00 ET

Jumio Launches Face Match to Enable More Reliable Customer Verification

New ID Authentication Technology Protects Web and Mobile Businesses From Fraud, While Enabling Easier Customer ID Process

PALO ALTO, CA--(Marketwired - Sep 18, 2013) - Jumio, Inc., the fast growing mobile credentials management company, today announced the launch of its Face Match technology, a new capability available within its Netverify identity verification platform. This new capability helps Jumio's Netverify customers assess the extent to which a photo on an ID presented during a mobile or online transaction matches the customer's actual face. In turn, businesses can more effectively and easily identify customers and protect against fraudulent activity.

"Our new Face Match technology provides another layer of safety and convenience for Netverify clients," said Daniel Mattes, founder and CEO, Jumio. "We can now not only determine that the actual identification is in-hand and valid, but that the person holding the card is the same person as in the picture. This renders "person-not-present" transactions to be effectively as secure, or more so, than a traditional "person present" transaction. This is an important step in combatting fraud and helping our clients meet a variety of KYC regulations and practices."

Businesses using Netverify with Face Match add two "primary source" authentication factors to their account origination or transaction security protocols. In addition to standard username and password (something you know), Jumio adds scanning and validation of original ID credentials (something you have) and Face Match (something you are) to deliver a comprehensive, near real-time consumer authentication experience.

Jumio customers have the option to activate Face Match as a feature within Netverify to provide an additional layer of protection for all transactions or selectively apply to higher-risk customers or transactions.

"With Netverify we can identify and authenticate customers in near real time, with a degree of confidence that was previously unattainable with online transactions," said Jesse Powell, founder and CEO, Payward, a Jumio Netverify customer. "Given this new level of fraud protection, we are able to safeguard accounts, while increasing ease of use for end user customers at the same time."

Netverify integrates into consumer-facing apps or websites to scan and validate passports, driver licenses and ID cards issued by over 90 countries and eliminates the need to handle and store paper records. The new Face Match authentication factor is designed to detect transaction attempts made with stolen or manipulated credentials.

For more information about Jumio Netverify, go to http://www.jumio.com/netverify.

About Jumio

Jumio® Inc. offers next generation online and mobile credit card payments validation and ID verification products for retailers, financial institutions and governmental agencies. Designed to increase revenue, reduce fraud, and streamline customer experiences, Jumio utilizes patent-pending computer vision technology to validate and facilitate transactions while providing unprecedented levels of consumer convenience and data security.

Jumio's Netswipe® enables customers to scan their cards in online and mobile checkout resulting in increased revenue and reduced fraud for the merchants. Netverify™ supports real-time ID verification in over 90 countries to help clients meet a variety of know-your-customer requirements. The company was founded in 2010 by CEO Daniel Mattes and is backed by top tier investors including Andreessen Horowitz, Citi Ventures and Facebook Co-Founder, Eduardo Saverin. Headquartered in Palo Alto, California Jumio operates globally with offices in the US, Europe and Asia.

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