Mercuryo expands its global presence with Sumsub

Thursday 19 May 2022 12:41 CET | News

UK-based identity verification provider Sumsub has partnered with crypto payment solution Mercuryo to augment conversion in Nigeria and Japan.

Mercuryo started working with Sumsub in March 2018 and the entire integration process took a short period. At the time, Mercuryo sought to maximise customer pass rates in order to expand to new markets quickly. Sumsub had the expertise and global coverage to get the job done.

Sumsub has shouldered Mercuryo’s verification process since 2019. A range of Sumsub features are used for this, including KYC checks, liveness checks, Reusable KYC, and screening of crypto addresses. Recently, Mercuryo started using automated KYB checks to speed up onboarding for new business clients.

Thanks to Sumsub, Mercuryo complies with shifting regulations while quickly verifying users (the average onboarding procedure takes around 1.5 minutes). Meanwhile, fraud detection has gone up, since Sumsub rejects suspicious profiles right at the verification stage.

Mercuryo has also solved a number of language and document related challenges with Sumsub. The platform can now identify Nigeria’s unique NIN documents and transliterate Japanese characters into Latin ones. These new capabilities have boosted user conversion by 30% in Nigeria and by 78% in Japan, as per the press release.

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Keywords: cryptocurrency, partnership, KYC, identity verification, digital onboarding, KYB
Categories: DeFi & Crypto & Web3
Companies: Mercuryo, Sumsub
Countries: Japan, Nigeria
This article is part of category

DeFi & Crypto & Web3




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