Jumio, a leading provider of automated and AI-driven identity verification solutions, has been named a Leader in the inaugural 2024 Gartner Magic Quadrant for Identity Verification. This significant recognition was published on 21 October 2024 and underscores Jumio’s position in a rapidly growing market.
The Gartner Magic Quadrant evaluates technology providers based on two primary criteria: Completeness of Vision and Ability to Execute. Jumio stood out among various identity verification vendors for its comprehensive IDV (identity verification) offerings, which cater to a wide range of use cases and customer requirements.
According to the Magic Quadrant report, Leaders in this category deliver robust IDV products that not only meet current market demands but also anticipate future needs. “Leaders have built a substantial installed customer base and revenue stream,” the report states, further highlighting that these companies demonstrate a superior vision, going beyond traditional offerings. This forward-thinking approach helps to shape the identity verification market.
The release of this Magic Quadrant marks a transition from the previous Gartner Market Guide for Identity Verification, which had consistently identified Jumio as a Representative Vendor. The change reflects evolving market conditions and the increasing complexity within the identity verification sector, which now encompasses over 100 vendors, as noted by Gartner.
In light of this growth, the report emphasises the challenge faced by modern enterprises in discerning innovative solutions amid a multitude of offerings. Anna Convery, Jumio’s Chief Marketing Officer, commented on the recognition: “As the identity verification market continues to expand, it can become increasingly challenging for modern enterprises to sort through endless offerings to find an innovative solution to suit their needs. To be named a Leader in the first-ever Magic Quadrant is an honour, and we believe this demonstrates that Jumio’s end-to-end approach to establishing and maintaining trust resonates with the market.”
Jumio’s platform provides an end-to-end solution designed to verify the identities of both new and existing users, combat fraud, and help businesses comply with regulatory mandates. With a proven track record, Jumio has processed over one billion transactions globally, supporting more than 5,000 types of identification documents across over 200 countries and territories. This extensive coverage positions Jumio as an industry leader in identity verification.
As businesses increasingly rely on digital solutions, Jumio’s recognition as a Leader in the Gartner Magic Quadrant reaffirms its commitment to innovation and excellence in identity verification technology. The company’s comprehensive approach not only enhances customer trust but also aligns with the evolving needs of the market, setting a benchmark for competitors in the field.
