Stay compliant with Hong Kong Monetary Authority’s guidelines using KYC, Business Verification, Ongoing AML, Transaction Monitoring, and Travel Rule solutions to make verification easy for your users.
With an average pass rate of 97.89%, secure all your verification needs while staying compliant with HKMA guidelines.
With short and clear user journeys, drop-off rates are minimized.
Provide your compliance and risk teams with a powerful tool to secure every transaction. Deter financial fraud, identify suspicious activity instantly, and maintain impeccable compliance.
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Easily orchestrate the verification flow to suit your onboarding optimization efforts, risk levels, internal policies, and compliance requirements, code-free.
Build verification flows according to user risk profiles, automatically run extra checks based on applicant actions, and set up triggers for manual case review. All without writing a single line of code.
Integration via web SDK, mobile SDK, or our RESTful API, with an uptime of over 99.5%. Connect Sumsub to all of your tools.
CCO at Nicehash
We started using Sumsub at the beginning of 2020. Since then we’ve checked approximately half a million users. They’ve helped us a lot with their highly sophisticated KYC/AML solutions. At the beginning of our collaboration, we mainly used Sumsub to manage security risks for our platform and its users, but we added more services and solutions as we grew to effectively manage AML risks and verify users.
Legal Counsel at YouHodler
The Sumsub integration will be a huge help for our dedicated compliance officers, helping them manage their time more efficiently and turn their focus to helping our clients in other aspects of our company's development. Sumsub will also enable YouHodler to create automatic reports for regulatory bodies and applicable laws.
Co-Founder and CEO at Oobit
We love the fact that Sumsub provides the user with either a verified acceptance or rejection immediately. This saves users’ valuable time and makes the onboarding experience far more convenient and user friendly.
Product Manager at Libertex
Choosing Sumsub was one of our best decisions. There are very few tech solutions in the market with such a vast amount of features and proposals. And what is even more important - they grow and improve every year, always try to be up-to-date
Product Owner at Mercuryo
Sumsub’s Reusable KYC feature has been a pleasant experience for us so far. Together with the Shared Token integration, this has helped us reduce onboarding time by eliminating unnecessary steps for new users globally.
Tell us about your business goals and we’ll come back with a tailored solution. That's how we build solid compliance.
Hong Kong’s financial institutions are required to conduct KYC checks when onboarding customers. The guidelines detailing the KYC procedure are issued by the Securities and Futures Commission (SFC). For individual customers onboarded remotely, businesses typically must verify their full name, date of birth, nationality and unique ID number.
KYC stands for Know Your Customer. KYC is a process that allows financial organizations to verify the identity of individuals and businesses they work with. KYC is required in order to comply with AML (anti-money laundering) rules. A KYC/AML service is designed to perform identity verification, thus allowing your business to meet compliance requirements and prevent fraud.
AML software filters and analyzes customer data to assign an appropriate level of suspicion. In other words, AML software allows financial institutions to screen their users for suspicious activity that could indicate money laundering.
AML transaction monitoring is the process of screening customer transactions for signs of money laundering activity. This process involves the assessment of current and historical customer data, including transfers, withdrawals, and deposits, for discrepancies. Suspicious activity involves income from undeclared sources, the use of false social security numbers, and a large number of transactions under $10,000, among others.