Jumio, a leading identity verification company, has introduced its latest solution, Jumio 360° Fraud Analytics, which utilizes predictive analytics to enhance the identification of fraudulent activities. This advanced system analyzes billions of data points to detect suspicious behaviors and signals that may indicate potential fraud, generating a risk score based on its assessment.
While Jumio is renowned for its facial recognition technology used to match an individual’s selfie photo with their official identification, their new Fraud Analytics system adds an additional layer of security. By cross-referencing an individual’s identity data with various metrics, Jumio aims to eliminate any potential fraudulent attempts.
CEO of Jumio, Robert Prigge, emphasizes the company’s commitment to evolving the industry by utilizing the power of predictive analytics to identify fraud patterns across their extensive network. This innovative approach enables Jumio to detect and thwart fraud rings and coordinated attacks more accurately than ever before.
What sets Jumio’s Fraud Analytics system apart is the transparency it offers to security decision-makers. Unlike typical black-box solutions, Jumio provides insights and explanations regarding rejected identity transactions. Furthermore, the system presents a graphical representation of any identified fraudulent linkages.
Jumio unveiled its Fraud Analytics system at the esteemed Money20/20 event in Las Vegas. While it is currently available to select customers through an early release, Jumio plans to launch it commercially in early 2024. This recent development follows Jumio’s partnership with NextWealth, which aims to assist Jumio in scaling its business operations by leveraging AI and Machine Learning-focused data services.
In summary, Jumio’s introduction of the Jumio 360° Fraud Analytics system marks another milestone in the fight against fraud. By harnessing the capabilities of predictive analytics, Jumio aims to eradicate fraudulent activities by identifying patterns and behaviors within its vast network. With a commitment to transparency and stopping fraud rings, Jumio continues to innovate and protect against increasingly sophisticated attacks throughout various industries.
Frequently Asked Questions (FAQs) Related to the Above News
What is Jumio 360° Fraud Analytics?
Jumio 360° Fraud Analytics is a solution developed by Jumio, a leading identity verification company. It utilizes predictive analytics to enhance the identification of fraudulent activities and detect suspicious behaviors.
How does Jumio 360° Fraud Analytics work?
This advanced system analyzes billions of data points to identify potential fraud indicators and behaviors. It then generates a risk score based on its assessment, helping to eliminate fraudulent attempts.
What sets Jumio's Fraud Analytics system apart from others?
Jumio's Fraud Analytics system offers transparency to security decision-makers. It provides insights and explanations regarding rejected identity transactions, and it presents a graphical representation of any identified fraudulent linkages. This transparency sets it apart from typical black-box solutions.
When was Jumio's Fraud Analytics system unveiled?
Jumio introduced its Fraud Analytics system at the Money20/20 event in Las Vegas.
When will Jumio 360° Fraud Analytics be available commercially?
While the system is currently available to select customers through an early release, Jumio plans to launch it commercially in early 2024.
What is Jumio's goal with the Fraud Analytics system?
Jumio aims to eradicate fraudulent activities by utilizing the power of predictive analytics to identify patterns and behaviors within its extensive network.
Has Jumio partnered with any other companies?
Yes, Jumio recently partnered with NextWealth to scale its business operations by leveraging AI and Machine Learning-focused data services.
What does Jumio's CEO, Robert Prigge, emphasize about the company's approach?
Robert Prigge emphasizes Jumio's commitment to evolving the industry by utilizing predictive analytics to identify fraud patterns more accurately than ever before.
What industries can benefit from Jumio 360° Fraud Analytics?
Jumio's Fraud Analytics system can benefit various industries by detecting and thwarting fraud rings and coordinated attacks with its advanced capabilities.
How does Jumio's facial recognition technology contribute to the Fraud Analytics system?
While Jumio is famous for its facial recognition technology, the Fraud Analytics system adds an additional layer of security by cross-referencing an individual's identity data with various metrics to eliminate potential fraudulent attempts.
Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.
