KYC Compliance

Set your own rules of identity verification guarantee good conversion rate and comply with the demands of the regulators.

What Is KYC?
KYC (Know Your Customer) is a process of customer’s identity verification performed on the regular basis to eliminate bribery, corruption, and other illegal financial activities. It’s also a requirement of the international AML (Anti-Money Laundering) regulations.

Who Is Impacted?
KYC requirements apply to most finance related institutions like banks, car sharing services, insurance companies, etc. Regulatory authorities want businesses to introduce strong “due diligence” policies, procedures and systems to assess, monitor and manage risks posed by customers and prevent financial crime.

However the development of the technology and the finance industry itself continuously creates new concerns forcing the regulators push the boundaries of compliance and proving the KYC solutions in place ineffective.

Failure to meet the ever changing KYC/AML compliance standards often leads to hefty fines, huge remedies, temporary suspension and irrevocable reputational losses.

Guaranteeing AML/KYC Compliance 
The increasing number of the required checks makes automated identity verification inevitable. New technologies leveraging artificial intelligence, advanced biometric checks, flexible integration and expert human assistance if needed, streamline user experience and help balance the high conversion rate with long-term regulatory compliance. 
 
Why Choose Us 
Sumsub offers a fully featured environment combining the power of artificial intelligence and machine learning with the expertise of the skille in-house lawyers and compliance officers.
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Choose the level of compliance

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Compile your workflow

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Get the results

Core Benefits

  • Customizable Workflow  You choose the confidence level, the necessity of human assistance, and the checks
  • Better conversion rate  Straightforward interface, quick response and live chat support result in more finalised verifications and more trusted identities in your space
  • Proactive risk model  Straightforward risk tiers based on the recent FATF guidelines, strong technology and ongoing monitoring of all AML data sources.
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