Jumio, the leading AI-powered trusted identity as a service provider, has been recognized for the second consecutive year as a Representative Vendor in Gartner’s latest “Market Guide for Identity Proofing and Corroboration,”1 published on September 30, 2019.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191021005647/en/
(Graphic: Business Wire)
Jumio was named as a Representative Vendor among several other identity proofing and corroboration providers. According to the report, “Representative Vendors were selected on the basis of one or both of the following: frequent inquiry by Gartner clients about that vendor for identity proofing use cases, vendor offers capabilities supporting identity proofing and corroboration in a way that is unique, innovative and/or demonstrates a forward-looking product strategy.”
A key finding of the Market Guide states: “Unrelenting breaches of personal data, as well as usernames and passwords, continue. Given this trend and emerging attack vectors such as synthetic identity fraud, enterprises must move to continuous, risk-based assessment of any claimed identity, both at the establishment of a relationship and in every subsequent interaction. “
“The continued reliance on static data, public records or credit bureau data alone to either establish or substantiate trust in an identity is no longer simply unadvisable; it has become negligence. Likewise, a refusal to invest in the gathering and assessment of negative and positive signals puts the burden of security on customers, which is increasingly unacceptable in a world that demands frictionless and secure interactions with businesses and organizations.”
“Unfortunately, knowledge-based authentication is still an integral part of many remote identity verification and authentication processes,“ said Robert Prigge, Jumio president. “We see that Gartner recommends the identity proofing solutions that rely on shared secret verification, such as out-of-wallet knowledge questions, or memorable personal data, be phased out. Modern enterprises now have a viable, more secure alternative to KBA with biometric-based identity verification and user authentication.”
Another important finding within the report notes: “There continues to be increased overlap between authentication, identity proofing and fraud detection use cases, leading to blurred lines in terms of internal responsibilities and vendor capabilities. In addition, there is a growing trend toward orchestrating identity proofing, fraud detection and orthodox credential-based methods that are traditionally used to provide confidence in the identity of returning customers… Gartner, therefore, recommends that identity proofing solutions that rely on shared secret verification, such as out-of-wallet knowledge questions, or memorable personal data, be phased out. The concept of high memorability, low availability data has become archaic since the rise of social media and the subsequent plethora of breached data available through underground organizations.”
Jumio enables modern enterprises to leverage the same biometric — a 3D face map — for initial identity proofing and ongoing user authentication. This type of biometric-based identity proofing offers a viable alternative to knowledge-based verification and authentication methodologies. Modern enterprises need to rely on fraud signals to corroborate a claim to a customer’s real-world identity — signals that can be used not only for new customers (legacy identity proofing use cases) but also for returning customers. By using the same biometric upfront and an ongoing basis, organizations can more effectively establish an identity corroboration hub and reliably assess the digital identities of remote users.
To download a complimentary copy of the full 2019 “Market Guide for Identity Proofing and Corroboration” click here.
1Gartner “Market Guide for Identity Proofing and Corroboration,” Jonathan Care, Akif Khan, 30 September 2019.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
When identity matters, trust Jumio. Jumio’s mission is to make the internet a safer place by protecting the ecosystems of businesses through cutting-edge online identity verification and authentication services that quickly and accurately connect a person’s online and real-world identities. Jumio’s end-to-end identity verification solutions fight fraud, maintain compliance and onboard good customers faster.
Leveraging advanced technology including augmented intelligence, AI, biometrics, machine learning, certified 3D liveness detection and human review, Jumio helps organizations meet regulatory compliance including KYC, AML and GDPR and definitively establish the digital identity of their customers. Jumio has verified more than 200 million identities issued by over 200 countries and territories from real-time web and mobile transactions. Jumio’s solutions are used by leading companies in the financial services, sharing economy, digital currency, retail, travel and online gaming sectors. Based in Palo Alto, Jumio operates globally with offices in North America, Latin America, Europe and Asia Pacific and has been the recipient of numerous awards for innovation. For more information, please visit www.jumio.com.