KYC Compliance Solution for Singapore
Welcome more verified users worldwide
Stay compliant with MAS guidelines using KYC, Business Verification, Ongoing AML, Transaction Monitoring, and Travel Rule solutions to make verification easy for your users.
Get high pass rates and comply with laws in Singapore
With an average pass rate of 86.08%, secure all your verification needs while staying compliant with MAS guidelines.
- Fintech: Achieve 240% ROI and get handy case management tools for sophisticated frauds.
- Crypto: Find the perfect balance between compliance and pass rates with a global verification solution for crypto users.
- Trading: Onboard more traders in less than 30 secs with automated user verification flows and reduce KYC/AML costs by 40%.
- Ecommerce: Convert more users with biometrics, get a 97% hit rate, encourage repeat transactions with a friendly UX.
Onboard more honest users
With short and clear user journeys, drop-off rates are minimized.
- Localize user journeys with 38+ languages, including Chinese, Malay, Korean, Japanese, Thai, Vietnamese, and more.
- Build the verification steps you need. We’ll help you pick the right conditions, triggers, and actions—free of charge.
- Enhance your verification process with KYC, AML, Liveness, Face Match, and proof of address checks to ensure verification with top results.
- Download data and logs to prepare for audits and report to regulators; solve all compliance tasks in a single dashboard.
Stop losing money on fraud
Provide your compliance and risk teams with a powerful tool to secure every transaction. Deter financial fraud, identify suspicious activity, and maintain impeccable compliance.
- Reveal risky clients by assigning behavioral risk scores and checking an internal list of 1m+ fraudsters.
- Don’t lose money on undetected money laundering and fraud. Detect all red flags in real time.
- Reduce false positives without compromising on compliance. Honest users in, money launderers out.
- Combine KYC/AML, transaction monitoring, and fraud prevention to detect and report suspicious activity.
Reach more markets than ever
Easily navigate APAC’s local regulations by integrating Local Data Processing (LDP) into your Sumsub compliance toolkit. Securely store localized data through your AML, KYC, or KYB solutions, enabling you to grow confidently.
- Ensure compliance with local data privacy regulations by securely storing regional data, no matter where the client’s HQ is.
- Optimize the user journey with automatic domain redirection, enabling intelligent processing of local data.
- Get one centralized hub for clear data management, including analytics, company information, and billing.
- Protect against data privacy risks and fines with LDP, safeguarding data for full-cycle compliance.
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Secure every step of the customer journey
Easily orchestrate the verification flow to suit your onboarding optimization efforts, risk levels, internal policies, and compliance requirements, code-free.
Automate verification steps
to fit your AML policy
Build verification flows according to your users’ risk profiles, automatically run extra checks based on applicant actions, and set up triggers for a manual case review— all without writing a single line of code.
Easily integrate your tech stack with Sumsub
Use Sumsub to integrate the services you need via Web SDK, Mobile SDK, or our RESTful API.
Don’t worry about interruptions with 99.9% uptime.
Don’t take our word for it.
Here’s what our clients have to say
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.
See Sumsub in action
Tell us about your business goals and we’ll come back with a tailored solution. That's how we build solid compliance.
FAQ
Does Singapore require KYC?
Singapore’s financial institutions are required to conduct KYC/CFT/AML checks when onboarding Singapore customers. The requirements are set by the Monetary Authority of Singapore (MAS). For individual customers onboarded remotely, businesses typically must verify their full name, unique identification number, residential address, date of birth, and nationality.
What is KYC service?
KYC service is designed to perform identity verification, thus allowing your business (whether it be banks, applications or other companies) to meet compliance requirements and prevent fraud by identifying the person seeking to become your client.
How does AML software work?
KYC is one of the principles that must be followed in order to comply with the AML (anti-money laundering) rules. This involves screening users for suspicious activity that could indicate money laundering activity. AML software is most commonly used in the financial industry, mainly in banking.
What is transaction monitoring?
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.
Is there a data privacy law in Singapore?
Yes. Singapore’s Personal Data Protection Act (PDPA) demands that organizations obtain consent from the data subject, collect data for an appropriate purpose, and inform the data subject of the reason for data collection.
What is the difference between GDPR and PDPA?
While both the GDPR and PDPA define ‘personal data’, the GDPR offers a more comprehensive definition. Unlike the PDPA, the GDPR distinguishes between regular personal data and special categories of sensitive personal data.