Jumio introduces Cross-Transaction Risk which functions as a RegTech system that combines network-wide real-time identity information to combat fraud while addressing compliance requirements.

Jumio introduces Cross-Transaction Risk which operates as a new component in its RegTech portfolio to enhance fraud prevention by holding users accountable through their identity information. As part of the Jumio Identity Reputation suite the solution enables business customers to foresee fraud by investigating behavioral indicators across 32 million identities present in the Jumio network.

The user validati on methods of the past deliver single-point trust assessments whereas Cross-Transaction Risk provides ongoing real-time assessment of identity risks. The new RegTech innovation enables this solution to track identity elements during multiple time periods maintaining both security integrity and interface simplicity.

The solution demonstrates its effectiveness because it discovered an additional 28% of fraud cases in its initial rollout. This APAC telecom provider used the system to block more than half of their attempted fraudulent transactions during deepfake and camera injection attacks.

Jumio operates its system in compliant fashion with GDPR guidelines while accessing end-user consented data. The company maintains steady growth in its RegTech expansion because it now serves more than 400 customers who use its compliance and fraud prevention solutions.

The network configuration from Jumio offers fraud detection at an early stage through continuous monitoring while enabling trusted user access at faster rates according to CTO Bala Kumar.

The company’s latest move places Jumio in the leading position within the current globalization of RegTech while enabling businesses to successfully fulfill KYC and AML requirements.