Danapay
Danapay

How Danapay Reduced Their Compliance Workload by 3 Hours a Day and Saved €3 on Every Verification

With Gaoussou Keita, co-founder and Chief Operating Officer
Danapay

100%

automation

3 hours per day

cut from the manual
compliance routine

€2-3

saved on every check

Company

Danapay offers convenient remittance transactions at attractive rates by using blockchain technology. They specialize in wire transfers between Europe and Africa.

Headquarters

Saint-Ouen, France

Products used

Industry

Danapay, a young, fast-growing company, needed a technologically advanced solution that would help them to avoid manual errors, stay compliant with regulatory demands, and maintain a pleasant onboarding experience for their users.

The Challenge

Although Danapay started with manual customer onboarding, they soon realized that manual checks have shortcomings: they are susceptible to human error and can be time and cost inefficient. So, when the number of users began to grow, Danapay set out on a search for a fully automated KYC solution.
Danapay

Gaoussou Keita

COO at Danapay

“When the number of our customers started growing, it became unsuitable for us to continue with manual checks. During the COVID-19 pandemic, digital platforms, like ours, have been in high demand, so we needed to automate our onboarding process to assist more users.”
Danapay

Gaoussou Keita

COO at Danapay

Choosing
the right provider

Danapay
“We had to demonstrate to our regulator that the KYC provider we chose has technologies reliable enough to conduct customer verification.” — Gaoussou Keita
To choose the appropriate provider, Danapay created a choice grid and evaluated each KYC solution against several essential criteria for their business:
Danapay

Ability to scale on demand

Being a startup, Danapay needed a scalable solution that can quickly expand when the number of users starts to grow and contract when the customer flow slows down.
Danapay

Complete verification framework from document screening to liveness and AML

Danapay needed a strong fraud prevention solution that would filter out tricksters who want to use the platform to transfer money. So, the quality of a provider’s verification technology and their ability to offer a complete framework of checks, including liveness, were major factors in the decision making process.
Danapay

Ease of integration

It was essential for Danapay to find a solution that could be effortlessly integrated into their system.
Danapay

User-friendly onboarding flow

This solution had to have a comprehensive onboarding flow that would not discourage clients from using the platform.
Danapay

Convenient pricing model

Danapay searched for a suitable pricing model for startups that would allow them to focus on the company’s development, without costing them an arm and a leg. While many KYC providers have fixed prices, Danapay needed a solution with a flexible payment plan fit for developing businesses.
Danapay
The Solution
After a series of compliance calls, demos and tests, Danapay set their mind on Sumsub.

Sumsub offered Danapay a fully automated solution with a complete range of customer checks, covering everything from document verification to liveness, including AML checks and risk-management tools. Thanks to the provider’s advanced fraud prevention, Danapay can now focus their attention on the company’s development, without worrying about compliance.
Danapay

Gaoussou Keita

“It is essential for us that Sumsub’s automated flow is user-friendly and comprehensive. The solution frees up our working schedule, by taking control of customer onboarding and verification.”
Danapay

Gaoussou Keita

COO at Danapay

Results after only a week

After just a week of using Sumsub’s solution, Danapay witnessed the fantastic results that shall only multiply in the future.

Danapay
100% automation,
including automated
KYC report generation
Danapay
Manual compliance
routine reduced by
3 hours a day
Danapay
€2-3 saved on every
check every check
“Before, we spent so much time on manual checks, but now, with Sumsub’s automated onboarding solution, we have the time to develop other aspects of our business.” — Gaoussou Keita
As a result of the collaboration with Sumsub, sending money from Europe to Africa is safe and pleasant for Danapay’s customers.
Danapay

1000+ other businesses using Sumsub