Plumery partners with Sumsub

As per the information detailed in the press release, Plumery’s Headless platform focuses on enabling banks, fintechs, and other financial institutions to develop applications on top of its APIs, with the solution not requiring compromising the user interface (UI) or core banking solution. This ensures a customisable onboarding journey for private and business banking customers. Sumsub’s pre-integrated KYC and anti-money laundering (AML) solutions support the verification of new customers via several factors, including email addresses, tax residency, and proof of address (PoA), while also screening identity documents and ensuring new users pass liveness checks.

According to Plumery’s officials, Sumsub focuses on efficient and compliant customer experiences, while the enhanced developer experience supports the delivery of applications. Considering that digital and mobile onboarding has become an integral part of the digital banking experience, the two companies plan to allow joint customers to incorporate this capability faster and cost-effectively while launching new propositions and banks more time-efficiently. The first release was focused on onboarding natural individuals, however, Sumsub and Plumery intend to add Know Your Business (KYB) and wider SME-based functionality in the upcoming period. Plumery also underlined that customers can leverage both the two companies’ technologies, as well as their knowledge in building digital banking platforms and compliance onboarding.

Furthermore, representatives from Sumsub highlighted that, by leveraging its APIs, Plumery can create a simplified end-to-end onboarding journey for its users. The collaboration allows the two companies to merge their digital experience building with increased levels of compliance and fraud protection, offered by Sumsub’s platform. By working together, Plumery and Sumsub plan to advance their development strategies and continue to improve the digital banking landscape, while increasing its security.

 As a full-cycle verification platform, Sumsub focuses on securing the entire user journey with its customisable KYC, KYB, transaction monitoring, and fraud prevention solutions. The company allows its customers to orchestrate their verification process, increase their user base, meet compliance requirements, minimise costs, and safeguard their business. Currently, Sumsub has more than 2,000 customers across the fintech and Embedded Finance industries, including Binance, Mercuryo, Bybit, Huobi, Unlimit, DiDi, Poppy, and TransferGo. 

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