All-in-one verification platform, Sumsub, has launched document-free KYC for emerging markets.
MIAMI, Oct. 5, 2022 /PRNewswire/ -- Sumsub, a global tech company providing anti-fraud and compliance solutions, announces the launch of one click-KYC for users in India, Brazil, Nigeria and Indonesia. The new solution will allow businesses to instantly onboard over 2 billion users without requesting their ID documents.
One-click verification is designed for businesses in the fintech, crypto, trading, marketplace and transportation industries, as well as for global online businesses that onboard customers in emerging markets.
This lightning-fast verification process is possible thanks to Sumsub's direct access to government databases in the listed countries containing full names, dates of birth, addresses, photos, and other details.
The onboarding process works like this: 1) the user provides their ID number and passes a quick liveness check; 2) the solution automatically pulls all required data from government databases and cross-checks it with the provided ID number and the user's facial biometrics.
From users' perspective, one-click verification feels familiar, since citizens of Brazil, Indonesia, India and Nigeria are already used to providing their ID number for verification (for instance, every Brazilian citizen knows their CPF number by heart).
In addition to one-click verification, Sumsub can verify and cross-check user documents for an extra layer of security. This includes proof of identity, proof of address, background checks, watchlist screening, SSNs, as well as custom requests.
"With one-click user verification, Sumsub has become the first KYC provider empowering companies to verify over 2 billion people from Brazil, Nigeria, India and Indonesia without scanning their documents. This way, Sumsub is realizing its mission of becoming a multilocal KYC providerâ€”helping businesses onboard local users the way they're used to, while empowering companies to enter new markets at the same time. Soon, more databases and countries will be included into Sumsub's one-click solution, improving access to products and services for more people around the world", â€“ says Andrew Sever, Co-founder and CEO of Sumsub.
Sumsub is a tech company that helps businesses stay compliant with regulations worldwide, steer clear of fraud, and secure every step of the user journey with holistic KYC/KYB/KYT/AML and anti-fraud solutions.
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