Sumsub Highlighted as Leader on Frost Radar™ 2023

Sumsub is among the innovation and growth leaders in Fraud Detection and Prevention (KYC) market research by Frost & Sullivan

Sumsub is pleased to announce it has been featured as one of the Frost Radar™ leaders in a recent Fraud Detection and Prevention (Know Your Customer) report by Frost & Sullivan.

Initially, 80 KYC vendors were researched, and in the end, 8 of them, including Sumsub, made it to the Frost Radar™, showcasing their leadership and driving the entire industry forward with their innovative approaches. According to the report, Sumsub demonstrates immense potential as an end-to-end verification platform and is likely to experience significant growth in the next 1-1.5 years.

“Leveraging its footprint in Europe and APAC as a springboard, Sumsub is poised for a strong global presence as it focuses on North America and the Middle East for its next phase of growth. Sumsub’s comprehensive product portfolio that goes beyond identity verification to include business verification, transaction monitoring, case management, and fraud prevention indicates a visionary approach to solving client challenges globally,” says Deepali Sathe, Senior Industry Analyst, Cybersecurity, at Frost & Sullivan.

Sumsub has over 2000 customers in various verticals, such as fintech, gaming, trading, marketplaces, crypto, and mobility. In addition to offering digital onboarding and AML compliance solutions, the platform enables its clients to verify business customers with KYB (Know Your Business) checks, monitor transactions, and orchestrate the entire verification process with a fully customizable workflow. Sumsub platform leverages AI technologies to analyze and monitor extensive data, effectively identifying suspicious patterns and preventing even the most advanced fraud attempts. “The foundation of Sumsub’s innovation strategy is to ensure future relevance of its solutions in an evolving fraud environment. Insights based on tracking of thousands of behavioral signals, building complex models, and constantly updating features drive customer satisfaction,” adds Deepali Sathe.

“Growing our company in a highly competitive environment, we always focus on meeting all client needs, which implies constant innovation and customization of our product based on the most recent market and regulatory trends,” comments Jacob Sever, co-founder and Chief Innovation Officer at Sumsub. “Being recognized as a leader by Frost & Sullivan only strengthens our commitment to further enhance Sumsub’s offerings, grow global compliance expertise, and reinforce our position in the industry with new partnerships and ahead-of-the-market fraud prevention solutions.”

You can learn more and access the Frost Radar™ report via this link.

  • August 29, 2023
  • Product

Explore latest news

Start exploring Sumsub today