Success stories

How Exness Consolidated AML Compliance With KYC and Fraud Protection, Slashing Costs in Half

  • 79%

    approval rate

  • 3 min

    medium processing time

  • 100%

    document recognition coverage (including specific Asian IDs)

Exness Group is a global multi-asset broker founded in 2008 to reshape the online trading industry. They aim to maximize value for their clients by offering better-than-market conditions on currencies, crypto, stocks, indices, metals, and commodities. In 2022, Exness achieved record trading volumes at $2.8 trillion (August 2022) and an active client base of over 350,000.

The Challenge

Exness conducted market research to determine which  KYC/AML providers could match their extensive international coverage. The main criterion was an all-in-one solution that could: 

  • Work with different requirements, jurisdictions, flows, and documents.
  • Offer a powerful product that’s GDPR-compliant and backed by the support of experienced compliance advisors;
  • Elevate conversion rates to new levels while complying with regulations;
  • Operate in emerging markets.

Stella Christodoulou

Head of Payment Operations at Exness

We researched the market for KYC platforms. Our company took on an immense scale with separate technical flows for each jurisdiction, which made KYC very challenging.

Why Sumsub?

It took Exness a lot of research before finally choosing Sumsub. They ultimately chose Sumsub for its:

  • Compliance proficiency and legal expertise in FCA, CySEC, FINMA, MAS, and MFSA, among others
  • Established presence in Cyprus
  • Support for most languages and special ID types recognition 
  • Powerful dashboard with broad functionality
  • 24/7 client support

The Solution

Sumsub takes care of trader verification for Exness. 

First, Sumsub requests a phone number from the trader’s country of residence. Then, for the first deposit, users pass through 3 verification steps:

  1. Personal email verification;
  2. Phone number verification;
  3. Providing personal information (address, full name, date of birth). 

Next, traders can open a deposit of up to 2000 USD, after which they have 30 days to pass proof of identity and proof of address checks.

Stella Christodoulou

Head of Payment Operations at Exness

Sumsub’s specific competence in this area complements our existing compliance routines very well. They have been able to customize KYC document screening to fit our specific flows and needs.

The Sumsub dashboard boosts efficiency for the Exness compliance and support teams.  They can manage a high volume of applicants, with access to their status, history, and reasons for being approved or declined. The solution documents decision history and produces reports following FATF guidelines used in AML/CFT reporting worldwide.

The Result

Sumsub’s solution provides Exness with a risk-based approach to verification, enabling compliance with respective rules and regulations, with corresponding support for each region. 

As a result of this partnership, Exness was able to cut costs in half, increase the approval rate to 77.6% (compared to an industry average of 70%), and reduce verification time to 3 minutes. 

Monitoring across jurisdictions and multiple databases, including PEP, sanction lists, and adverse media, enables Exness to identify non-compliant users better.

Future plans

Exness plans to continue focusing on fraud prevention and improving the customer experience during KYC. They are also considering Sumsub’s Liveness technology and document-free verifications.  

  • Trading
  • Cyprus


Exness is the world’s largest multi-asset broker by trading volume and active clients.


300 billion+ monthly trading volume
1000+ employees
365K active clients in October 2022
With Sumsub since February 2019


Explore other success stories

Start exploring Sumsub today