Sumsub has partnered with Zenoo, a leading no-code onboarding and orchestration platform, to help financial institutions streamline compliance, reduce onboarding inefficiencies, and combat rising fraud risks. 

Through this partnership, Zenoo has integrated Sumsub’s identity verification solution into its platform, enabling financial institutions to easily deploy advanced verification tools. By leveraging Zenoo’s no-code orchestration platform, businesses can quickly incorporate Sumsub’s identity verification checks into their existing systems, streamlining the onboarding process while ensuring compliance and security. This integration offers financial institutions a flexible and scalable solution to address emerging fraud risks.

With Zenoo’s established working relationships with financial institutions, this collaboration ensures  banks and fintechs can access exemplary fraud prevention and identity verification solutions. Recent research highlights that over 50% of institutions report a lack of internal skills as a blocker to modernization. 

According to Sumsub’s Identity Fraud Report 2024, the traditional finance industry was among the top five sectors with the highest fraud rate growth, experiencing a 162% YoY increase in 2024. Additionally, AI-driven deepfake scams surged fourfold globally. These emerging threats highlight the critical need for a more robust, adaptive compliance infrastructure, as fraud evolves and compliance requirements tighten.

“The industry is weighed down by complexity – multiple tools, legacy platforms, and an inability to adapt quickly,” said Stuart Watkins, CEO of Zenoo. “These are the very conditions that make KYC and AML ineffective. Our partnership with Sumsub is about changing the model – giving teams the ability to activate best-in-class technology instantly, with no code and no disruption.”

Sumsub, recently named a Leader in the 2024 Gartner Magic Quadrant for Identity Verification, brings AI-powered fraud detection and compliance solutions to financial institutions, helping them enhance security and streamline operations. By integrating Sumsub’s AI-powered solution into Zenoo’s no-code platform, financial institutions can:

• Strengthen fraud prevention – Detect and mitigate risks in real time, leveraging AI-driven fraud detection.
• Accelerate customer onboarding – Reduce friction in verification while improving conversion rates.
• Ensure seamless compliance – Stay ahead of global KYC/AML regulations with a scalable, adaptable solution.
• Safeguard users beyond onboarding – Implement continuous monitoring to address post-onboarding fraud risks.
• Leverage no-code orchestration – Connect fragmented compliance systems effortlessly without heavy IT involvement.

“As compliance grows more complex and fraud risks emerge, we see that over three quarters of identity fraud actually happens after user verification and onboarding. We know that focusing solely on KYC is simply not enough,” said Ilya Brovin, Chief Growth Officer at Sumsub. “We believe in a multi-layered fraud prevention strategy that secures end users at every step of their journey – from initial onboarding through ongoing transactions. By integrating AI-driven verification and fraud prevention within Zenoo’s orchestration platform, we are helping financial institutions fight AI-powered fraud with AI, ensuring businesses and users alike remain protected.”

With legacy constraints and siloed compliance tools leading to inefficiencies, this collaboration enables financial institutions to modernize fraud prevention strategies without disrupting existing operations. By leveraging AI-driven technology, Sumsub and Zenoo provide a scalable solution to meet today’s regulatory challenges and evolving fraud threats.The integration is now live in the Zenoo Marketplace.