Stay compliant with MAS guidelines using KYC, Business Verification, Ongoing AML, Transaction Monitoring, and Travel Rule solutions to make verification easy for your users.
With an average pass rate of 86.08%, secure all your verification needs while staying compliant with MAS guidelines.
With short and clear user journeys, drop-off rates are minimized.
Provide your compliance and risk teams with a powerful tool to secure every transaction. Deter financial fraud, identify suspicious activity, and maintain impeccable compliance.
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Easily orchestrate the verification flow to suit your onboarding optimization efforts, risk levels, internal policies, and compliance requirements, code-free.
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.
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.
Tell us about your business goals and we’ll come back with a tailored solution. That's how we build solid compliance.
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.
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.
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.
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.