According to the press release, through the partnership, Spoko.app will fortify fraud protection and reduce user verification time down to one minute – all in efforts to support the 1,7 billion adults worldwide with no access to bank accounts.
Spoko.app is a Poland-based global instant money transfers fintech that enables expats to send money to their home countries using local payment methods. Spoko.app already has 500.000 users who can receive money in 50.000 locations either through bank accounts, credit cards, ewallets, or in cash. Spoko.app works transparently, because its users immediately know the transaction costs. To make these transfers more accessible, Spoko.app doesn’t charge a commission fee for transfers to Nigeria, Ukraine, Brazil, and Turkey.
Furthermore, to avoid delaying transfers due to lengthy customer verification, fintech Spoko.app chose Sumsub for its quick and secure KYC service. Sumsub provides the right level of transparency and security for Spoko.app, singling out fraudsters and any money laundering attempts. Its checks consist of ID and biometric verification that usually takes around one minute to complete.
Besides, Sumsub ensures that Spoko.app’s onboarding routine is fully compliant with international standards, as well as with local regulations in the countries where they operate (and plan to operate).
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