By joining the SFA, Sumsub supports its dedication to increasing innovation, creating industry connections, and contributing to the Singaporean fintech sector. Moreover, the move also assists in the company’s involvement in the APAC market, as, in July 2023, it established its regional headquarters in Singapore. At that time, Sumsub intended to provide full-cycle verification services as part of its expansion strategy. The company entered the region due to the increasing threat posed by identity fraud as digital startups continued to expand, as well as to solidify its presence in the APAC region with partnerships and additional clients.
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