Comparison | Didit vs Jumio: The Best Alternatives in KYC

The market for identity verification and AML providers offers numerous options. One of the most important players in recent years has been Jumio, whose KYX platform has revolutionized digital identity verification in more than 200 countries.

However, the needs of many companies have changed. Obliged entities understand that KYC solutions must be more accurate and adaptable, and for many institutions, their proposals might begin to feel the need to seek different alternatives to Jumio in the market.

Notice: The information in this comparison (Didit vs Jumio and the best alternatives in KYC) comes from online research and various user comments on different platforms. This content was updated in the last quarter of 2024. If you believe there is an error or need to request a specific correction, please contact us.

Key Features of Jumio: What Does It Offer in the Identity Verification Market?

Jumio has built its reputation in the regulatory compliance market on the KYX platform, a comprehensive solution that unifies identity verification modules. Its approach focuses on biometric verification, combining facial recognition technology with liveness detection and expert analysis for document validation in more than 200 countries and territories.

The platform stands out for its ability to integrate with existing systems through no-code orchestration, allowing companies to implement an identity verification system without the need for complex developments. Its modules include document verification, biometric authentication, and AML Screening.
 

Where Didit Beats Jumio: A Free and Quality Alternative

The current identity verification market requires an approach that combines efficiency, accessibility, and security. While it's true that Jumio has been considered one of the main players in the sector for a long time, solutions like Didit have arrived to revolutionize the KYC and AML compliance industry thanks to a free, unlimited, and forever identity verification service.

Didit's competitive advantages are significant compared to Jumio:

• Didit offers a completely free identity verification service ($0.00 per KYC verification) and a fixed price of $0.30 per AML verification, with no monthly costs or long-term commitments. This model democratizes access to identity verification technology for businesses of any size.
• Didit's reusable identity technology allows users to create a verified digital ID (Didit ID) that they can reuse in future KYC processes, drastically reducing onboarding times and improving user experience. This reusable KYC service is completely secure and complies with regulations (such as eIDAS).
• Didit natively integrates NFC verification, along with facial recognition and document verification in a single automated flow. This combination of technologies ensures maximum security during the KYC process while promoting a smooth and fast process.
• Didit's KYC software includes address verification and document monitoring, so verifications with expired documentation will never be a problem again.
• The optional real-time AML Screening service allows adding an additional layer of security to the process, which goes beyond the initial verification. This ensures constant regulatory compliance and staying always up to date.
• Thanks to ISO 27001 certification, Didit guarantees the highest security standards in handling sensitive data and information, complying with the highest and most demanding regulations within the financial sector.
   

Why Look for an Alternative to Jumio: Didit, the Best KYC Solution in the Market

The evolution of technology from identity verification providers has been exponential since Jumio established itself as one of the first standards in the market. While its KYX platform offers a complete suite of solutions for regulatory compliance, market needs have changed, and agile and, above all, accessible alternatives are now in demand.

Traditional identity verification presents several challenges that both companies and users must face. Jumio's biometric authentication processes, although robust, can generate some friction during the onboarding process. We're talking about false positives or requiring numerous attempts due to lighting problems. This affects users who, tired, decide to abandon the registration process.

Processing times also pose a significant obstacle. Cases requiring manual verification with Jumio have skyrocketed, which can cause significant delays of up to 7 and 8 minutes per transaction. On the other hand, alternatives to Jumio like Didit are capable of offering automated KYC processes in just a few seconds, maintaining the highest security standards thanks to technologies such as NFC or passive liveness detection.

The economic factor also weighs in the decision to seek an alternative to Jumio. While its costs may be impossible for many companies, mainly startups and growing businesses, alternative solutions like Didit democratize access to identity verification, offering completely free KYC services with coverage in more than 220 countries and territories.

One of Didit's undoubtedly most attractive innovations is its reusable KYC system, which allows users to create a Didit ID, reducing onboarding times to 3 seconds. This feature, absent in Jumio's suite, represents a paradigm shift in how we approach identity verification and market demands.