Success stories

Sumsub Onboards Users for the Digital Residency Program of Palau

  • William Wang

    William Wang

    CEO at Cryptic Labs

  • 30%

    faster verification

  • 20%

    approval rate boost

  • 2022

    start working with Sumsub

Headquartered in California with members from different countries, RNS’s mission is to usher in a borderless world. RNS is the official tech partner of the Republic of Palau that provides a unique digital identity solution.

The Challenge

RNS needed an automated verification solution to comply with KYC/AML regulations. As part of these requirements, the company needed to conduct thorough checks to authenticate new users from different countries with diverse document types—presenting unique verification challenges. This required a comprehensive verification solution.

RNS also needed a solution that would significantly enhance the speed of their verification process. First, they partnered with another verification service provider but weren’t satisfied with the results.

William Wang

William Wang

CEO, Cryptic Labs

Verification can be lengthy, as we provide a government-issued ID from a sovereign nation. In the meantime, we must minimize the time required for each step, which prompted us to search for a faster, more secure, and reliable provider of identity verification services.

Why Sumsub?

RNS aimed to expedite the identity verification process, ensure higher user data security and maintain a reliable verification procedure. That’s when they turned to Sumsub.

William Wang

William Wang

CEO, Cryptic Labs

We chose Sumsub primarily due to its impressive validation speed, robust security measures, and ability to verify most identities from different countries.

Sumsub’s rapid verification drastically reduces the time required to onboard new users, a crucial factor given RNS’s global user base.

The Solution

RNS uses the following Sumsub solutions, including:

Sumsub’s unified dashboard enables RNS to manage and monitor the verification process effectively. It also allows the company to promptly identify and address any issues, thereby enhancing the efficiency and reliability of their services.

Implementation

The integration process was straightforward and efficient due to Sumsub’s comprehensive documentation and robust SDK. This facilitated a quick addition of Sumsub to RNS’s verification procedure. The transition to Sumsub was completed in about two weeks.

The Results

Sumsub has greatly improved RNS’s verification efficiency, reducing onboarding time and facilitating a quicker registration process for new users.

William Wang

William Wang

CEO, Cryptic Labs

We’ve seen a good conversion rate, as Sumsub’s comprehensive verification tool allows for accurate user identity verification, mitigating the risk of fraudulent accounts and enhancing user trust.

Furthermore, the advanced technology employed by Sumsub’s verification tool has contributed to a 20% higher pass rate.

Future Plans

RNS has exciting plans for the future, with significant growth anticipated in its user base and the introduction of new tools. In line with these developments, Sumsub will continue to play a crucial role as their long-term KYC partner.

William Wang

William Wang

CEO, Cryptic Labs

Sumsub’s expertise in smooth verification, anti-fraud protection, and KYC/AML compliance will ensure a seamless user experience and provide necessary security measures as we expand into new regions and launch innovative products. We value Sumsub’s commitment to adapting and evolving in the fast-moving crypto world, making it an ideal fit to support RNS’s growth and maintenance of compliance standards.

  • Crypto
  • USA

RNS (Cryptic Labs) is the world’s first blockchain-native sovereign identity platform.

 

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