Jumio Accelerates Digital Transformation in Middle East with KYX Platform

--(BUSINESS WIRE)-- Jumio, the leading provider of AI-powered end-to-end identity orchestration, eKYC and AML solutions, today announced the launch of a Middle Eastern solutions portfolio and the appointment of Arshad Sheikh as its first sales leader for the Middle East, Turkey and North Africa (METNA) region. This expansion builds on Jumio’s long-standing presence in the Middle East and its ongoing commitment to revolutionize banking for a growing number of customers in the region.

A recent forecast from the International Data Corporation states that digital transformation efforts in the Middle East, Turkey and Africa are set to top $58 billion in 2025, accounting for 40% of all information communication technology (ICT) investments made that year. Additionally, McKinsey & Company found that 83% percent of payments practitioners operating in the Middle East and Africa believe digitizing the customer journey is the most important way to remain relevant in an evolving market.

With the Jumio KYX Platform, businesses from banking and financial services to government, healthcare and travel sectors can tap into services that accelerate digital transformation without sacrificing security and convenience. The KYX Platform leverages AI, biometrics, machine learning and certified liveness detection to help enterprises rapidly convert customers, stop fraudsters and maintain KYC and AML compliance. The key features and advantages of the platform extend an organization’s ability to monitor customer behavior from the initial point of account creation through the full lifecycle of customer interactions.

Based in Dubai, Sheikh will focus on expanding the company’s client base, growing relationships with existing clients and cultivating a sustainable partner network. Sheikh has more than 20 years of sales, business development and cybersecurity experience in the Middle East. Before joining Jumio, Sheikh worked at Carbon Black/VMWare, Barracuda Networks, Informatica, TrendMicro and Mindware.

“We are proud to continue growing in the METNA region in order to better serve the needs of our local customers and partners and to expand our global footprint so organizations can truly know their end users, no matter where in the world they are,” said Dean Hickman-Smith, Jumio chief revenue officer. “Most industries in the region have been swept up in the need to digitally transform their businesses. Jumio’s end-to-end orchestration platform, aided by our extensive partner network, will massively simplify the journey and deliver successful business outcomes across all key industry sectors.”

For a live demonstration of the Jumio KYX Platform, visit Jumio at booth A34 during GISEC Global, which takes place this week in Dubai.

About Jumio

When identity matters, trust Jumio. Jumio’s mission is to make the internet a safer place by protecting the ecosystems of businesses through a unified, end-to-end identity verification, eKYC and AML platform. The Jumio KYX Platform offers a range of identity proofing and AML services to accurately establish, maintain and reassert trust from account opening to ongoing transaction monitoring.

Leveraging advanced technology including AI, biometrics, machine learning, liveness detection and automation, Jumio helps organizations fight fraud and financial crime, onboard good customers faster and meet regulatory compliance including KYC, AML and GDPR. Jumio has carried out more than 500 million verifications spanning over 200 countries and territories from real-time web and mobile transactions.

Based in Palo Alto, Jumio operates globally with offices in North America, Latin America, Europe and Asia Pacific and has been the recipient of numerous awards for innovation. Jumio is backed by Centana Growth Partners, Great Hill Partners and Millennium Technology Value Partners.

For more information, please visit www.jumio.com.

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