Sumsub
Sumsub is a verification and fraud prevention platform for businesses that need to establish who their customers are. Financial services companies use Sumsub to check identity documents and compare those documents with a selfie or other verification evidence. These checks support remote customer onboarding without requiring an in-person meeting.
Sumsub also screens customer information and monitors transactions for suspicious activity. Businesses can configure verification steps and review the results in their own workflows. The platform helps compliance teams assess identity and financial crime risks when opening accounts and throughout a customer relationship.
Identity checks and transaction monitoring
Sumsub was founded in 2015 as a tool for spotting manipulated images and grew into what it calls "a full-cycle verification and compliance platform" that verifies more than 2 million people a day with adaptive AI. Sumsub supports more than 14,000 document types in over 50 languages. Sumsub's modules cover user and business verification, liveness and deepfake detection, reusable KYC through Sumsub ID, qualified electronic signatures, transaction monitoring, crypto monitoring and the Travel Rule.
Compliance teams configure which checks an applicant must pass. A flagged case can go to manual review, and the result is available in a dashboard or through an API or webhook. Sumsub also supports repeat verification for existing customers, including before higher-risk actions. Sumsub's verification documentation describes the available checks and how to combine them.
Video identification for Germany
BaFin sets strict rules for identifying a customer by video. Sumsub states that its video identification meets them: the video chat is end-to-end encrypted, a phone number is checked with a TAN during the call, and the data is kept for at least five years. A firm in Germany can run the interviews itself with Sumsub's software or let Sumsub's own trained operators run them in German or English (Sumsub). Video identification in Germany explains the BaFin procedure and its alternatives.
AML screening with ComplyAdvantage
For AML screening, Sumsub uses ComplyAdvantage's Mesh platform as the data layer for its checks in KYC, KYB and transaction monitoring, and a customer can connect its own Mesh credentials to Sumsub (ComplyAdvantage). In that announcement Sumsub gives its customer count as more than 4,000 companies. Transaction monitoring for AML covers what a bank must check after onboarding.
Upcoming events on KYC, AML and compliance
Risk & Compliance
What is Sumsub ID?
Sumsub's reusable identity. A person verified once can reuse the result with other companies that work with Sumsub.
Does Sumsub detect deepfakes?
Sumsub lists liveness and deepfake detection as a module of its verification. Deepfake onboarding attacks describes how fraudsters use synthetic faces against such checks.
Identity and compliance
Other compliance providers
Sumsub and Finance Loop
Finance Loop covers KYC, AML and digital identity in its Risk & Compliance track. Compliance officers, regtech providers and supervisors meet at Finance Loop events in Frankfurt and other German cities.
Finance Loop is a professional network supporting the institutional use of emerging technologies in finance, such as AI, digital payments, cloud and blockchain solutions. Finance Loop helps its members build skills and personal networks in these fields: Investment & Digital Assets, Payments & Digital Money, Digital Infrastructure & Sovereignty, and Risk & Compliance.