Amrit Satpathy
Ecosystem Manager
Welcome Sumsub to the NayaOne’s Technology Marketplace. The digital verification solution tech provider, is now accessible to banks and financial institutions to discover and evaluate through NayaOne’s Digital Transformation Platform.
Sumsub allows banks and financial institutions to secure all their verification needs with just one platform across 220 countries and jurisdictions. Onboard new clients, perform AML screening, monitor transactions, verify businesses, manage cases, and more, all in one place.
Developing any banking product automatically means conducting Know Your Customer (KYC), Know Your Business (KYB), and Know your Transaction (KYT) checks. These requirements stem from regulatory compliance demands and the need to ensure utmost security. Many want to work with SMEs by evaluating tech providers but are often limited by their verification solution.
The Sumsub verification platform helps businesses monitor fraud worldwide and at every step of the customer journey. In a single flow, financial institutions can verify users, businesses, and transactions, as well as manage different use cases like payments, digital assets, Gen AI and customise flows.
Some of the benefits you an enjoy with Sumsub include:
- Seamlessly onboarding users from 220+ countries and territories worldwide with the highest pass rates.
- Managing risks and preventing fraud and sophisticated scams, with a single solution.
- Tapping into new markets and expanding your user base while staying compliant with regulators.
All of Sumsub solutions are available via NayaOne’s Digital Transformation Platform as white-label propositions. They easily integrate with FIs existing tech stack and support organisation’s corporate innovation strategy.
Customer Case Study: The Kingdom Bank Grows Revenue by 48% after Onboarding Sumsub
The Kingdom Bank has prioritised its rigorous verification processes to maintain trust and meet the expectations of its esteemed partners and the global financial ecosystem. Before Sumsub, The Kingdom Bank’s onboarding time was around three days. However, after implementing Sumsub, this process was reduced to nearly 2 minutes!
With Sumsub, The Kingdom Bank’s standard onboarding process is smooth and straightforward with a pass rate of 92%. Thanks to Sumsub’s in-house liveness technology, The Kingdom Bank managed to reduce the rate of scam applications in emerging markets. In addition the company saw remarkable revenue growth of 48%.
Sumsub and NayaOne have strategically partnered to provide transparency around mitigating fraud within the Financial Services space through NayaOne’s Digital Transformation Platform; making access to our proprietary technology equitable on a global scale, no matter the jurisdiction or company maturity. As NayaOne bring bank-fintech partnerships together for innovation, we’re delighted to be partnering with them.
Thomas Taraniuk
Partnerships, UK and Europe, Sumsub
We welcome Sumsub to the NayaOne marketplace! Their digital verification solutions empower banks to offer fast, flexible financial tools, streamlining services for a more prosperous automation. Sumsub solutions now can be discovered and tested via the NayaOne Digital Transformation Platform.
Oli Platt
Product and Marketplace Manager, NayaOne
Sumsub is the one verification platform to secure the whole user journey. With Sumsub’s customisable KYC, KYB, transaction monitoring, and fraud prevention solutions, you can orchestrate your verification process, welcome more customers worldwide, meet compliance requirements, reduce costs, and protect your business. Sumsub has over 2,000 clients across the fintech, crypto, transportation, trading, and gaming industries, including Mercuryo, Bybit, Huobi, Unlimint, DiDi, Poppy, and TransferGo.
