Advapay, Sumsub to deliver automated KYC and AML solution

Thursday 15 October 2020 14:08 CET | News

Estonia-based digital core banking platform Advapay has partnered with Sumsub, a UK-based identity verification platform, to deliver a KYC and AML solution to digital banks and fintech.

Sumsub is going to provide all the businesses that use Advapay with an identity verification solution powered by face recognition and matching technology for biometric identity proofing and liveness check, document screening, and background checks. The company will ensure the verification of 6500+ types of local documents from 220+ countries and territories. It will assist Advapay’s fintech clients to comply with regulators and their requirements, provide a digital experience for their end-users, and reduce the time spent on identity verification to minutes.

Advapay’s services range from professional fintech advisory and licensing services to the provision and implementation of the necessary customised IT infrastructure. The integration with Sumsub will broaden the scope of Advapay’s core banking platform and provide automated onboarding and KYC/AML functionalities. The integration will be available to all Advapay’s clients from the list of ready-to-use integrations.

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Keywords: Advapay, Sumsub, KYC, AML, identity verification, screening, compliance
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime