JUMIO UNVEILS CROSS-TRANSACTION RISK TO STRENGTHEN FRAUD DETECTION

Jumio Network Harnesses Power of Proprietary Data to Advance Fight Against Identity Fraud

KUALA LUMPUR, April 23 (Bernama) -- Jumio, an artificial intelligence (AI)-powered biometric identity verification and compliance solutions provider, has announced the general availability of Cross-Transaction Risk to help businesses detect fraud by connecting identity elements across the Jumio network.

In a statement, the company said the new capability, part of the Jumio Identity Reputation suite, enables organisations to enhance fraud detection while maintaining seamless user experience and identity assurance.

“By connecting proprietary identity data across customers, sessions and time, the Jumio network enables earlier fraud detection, faster onboarding and continuous risk monitoring,” said Jumio Chief Product and Technology Officer, Bala Kumar.

Unlike traditional identity verification, which validates a user at a single point in time, Jumio Identity Reputation provides continuous intelligence by analysing identity attributes and behaviours across sessions.

At the core of this solution is the Jumio network, a privacy-first intelligence system built on over 32 million known identities, including both legitimate and fraudulent transactions.

Jumio leverages this data with explicit end-user consent, in line with stringent privacy regulations such as the General Data Protection Regulation (GDPR).

According to Jumio, to date, more than 400 customers have joined the network, contributing to its ability to detect identity risks at scale.

Early access to Cross-Transaction Risk has shown positive results, with the solution identifying an average of 28 per cent more fraud attempts.

A major telecommunications company in the Asia-Pacific region, for example, used the tool to detect and block over 50 per cent of fraudulent ID transactions involving camera injection and deepfake attacks.

-- BERNAMA