The company recently teamed up with Nexus Technology, PT Secure Pasifik Technologi and Spectrum Edge, to extend access to its verification solutions in the Philippines, Indonesia and Malaysia.
Sumsub has announced strategic partnerships with leading resellers in Southeast Asia. These partners include Nexus Technologies, a premier IT reseller and systems integrator based in the Philippines; PT Secure Pasifik Teknologi (SPT), a specialist in advanced security solutions and cybersecurity consultancy services in Indonesia; and Spectrum Edge, a prominent cybersecurity distributor in Malaysia.
These partnerships aim to bolster the region’s fraud prevention landscape and foster a more resilient business environment, empowering local businesses to navigate the evolving fraud landscape.
As Southeast Asia’s digital economy thrives, the surge in online activities has also provided opportunities for fraudsters, resulting in financial losses and diminishing customer trust. According to Sumsub, the Philippines, Indonesia, and Malaysia are facing escalating fraud trends. Notably, the Philippines recorded the highest growth in deepfakes across APAC, with a staggering increase of 4500% from 2022 to 2023. Indonesia saw a 1550% year-on-year rise in deepfakes, coinciding with the country’s presidential election year. Malaysia’s fintech sector also experienced a significant 108% rise in fraud rates. As a result, several governments have also tightened regulations in the KYC (know- your-customer) and AML (Anti-Money Laundering) sectors.
By partnering with these local resellers, Sumsub extends access to its robust verification solutions across key markets in the Philippines, Indonesia, and Malaysia. This strategic collaboration enables businesses in these regions to implement Sumsub’s advanced technology, ensuring they meet stringent compliance standards and effectively combat the rising challenges posed by fraud and identity theft.
“We thank our partners – Nexus Technologies, PT Secure Pasifik Teknologi and Spectrum Edge – for trusting us. With rising fraud and the growing accessibility of AI tools, the demand for our verification and compliance solutions has never been higher. Over the past year, Sumsub has achieved significant milestones in Asia, and we aim to continue this momentum through working with our partners to build a safer and more digitally inclusive future for businesses and consumers in Asia,” said Penny Chai, VP of Business Development at Sumsub.
Sumsub formally established its first APAC headquarters in Singapore in July 2023, leveraging the nation’s strategic position as a gateway to other Asian countries and its thriving ecosystem of digital assets and fintech businesses.
Last April, Penny Chai was appointed as its Vice President of Business Development, where she’s been leading operations and driving business development in Asia from Singapore. In recent years, Sumsub has partnered with well-known companies in the APAC region, including ChainUp, a blockchain technology solutions provider, and CODE, a South-Korean Travel Rule compliance solution. The company has also secured new clients since 2023 such as dtcpay, a leading Singapore-based payment service provider.
To commemorate these partnerships and expand their presence in the region, Sumsub hosted its roadshow, “Comply to Fortify: APAC Anti-Fraud Roadshow” together with its new partners. The roadshow will span across key cities in the Philippines, Malaysia, and Indonesia, providing a platform to showcase Sumsub’s solutions and demonstrate how businesses can benefit from their solutions.
