Jumio earned a gold medal in AI security and silver medal in fraud prevention

The Cybersecurity Excellence Awards were created to honor either companies or individuals who have really made a contribution to information security that also bring innovation and leadership. One of the awarded companies for this year’s ceremony is dedicated to the online gaming industry, providing identity verification and authentication software solutions that are empowered by artificial intelligence (AI). At the recent awards ceremony, Jumio was awarded a gold medal in the AI security and fastest-growing cybersecurity company categories, as well as a silver medal of a very relevant category for online gaming, fraud prevention.

There is no doubt that AI has come to stay, and it is easily seen in companies like Jumio that are presenting record-breaking growth that nearly doubled in a year-to-year revenue comparison. The company has been working on its AI-powered video selfie authentication solution – Jumio Authentication – which is the first of its kind in the market. It uses face-based biometrics for identifying the player at the beginning and to continue doing it periodically while the person is playing.

“AI is at the heart of Jumio’s business, and our team is dedicated to leveraging AI to help companies fight fraud,” said Robert Prigge, Jumio CEO. “We’re honored our efforts are validated by explosive company growth and distinguished recognition by the Cybersecurity Excellence Awards.”

For fraud detection, Jumio uses a very interesting combination of AI technologies, such as machine learning, faced-based biometrics, certified liveness detection and computer vision to tackle scams. It might sound complicated, but what it does is to simplify a process for online gaming operators that determines if a certain user is who claims to be. This is a work in progress, and more development is being put into it to improve the accuracy and speed in which it works. However, this will ultimately reduce the customer’s transaction times to less than half.