Sumsub introduces Local Data Processing (LDP) for APAC

What does LDP mean for the privacy regulations?

The new LDP feature will assist APAC companies in complying with local data privacy regulations, ensuring more secure data storage within regional markets. The data privacy landscape in the APAC is changing as economies grow and digital transformation speeds up. There has been an increase in strict data protection regulations in recent years due to greater awareness of privacy issues and the growing need for control over personal data. According to a study by Ipsos, 81% of APAC end-users believe that the loss of privacy is inevitable due to technological advancements. Countries such as Singapore and Hong Kong have implemented stringent local data processing requirements, and Indonesia and the Philippines are also updating their regulatory frameworks. This regulatory momentum reflects a broader global trend where data privacy concerns are becoming increasingly important.

Regulated companies can now protect themselves and end-users using Sumsub's full suite of verification, anti-fraud, and compliance products, including AML screening, KYC and KYB processes, and ongoing transaction monitoring and fraud prevention capabilities.

Key benefits of the LDP infrastructure

1. Regional compliance: LDP simplifies compliance with local data privacy regulations across APAC. For example, it helps companies meet Singapore’s vendor requirements to store and process data locally. 
2. Seamless user experience: automatic domain redirection eliminates the need for manual navigation, ensuring that data is stored and processed locally, regardless of the company's headquarters. 
3. Centralised access: firms can access all their applicant-related analytics, statistics, and billing information from any region. 
4. Global reach: LDP instils confidence in expanding business operations to new markets in full compliance.

To support businesses and navigate APAC's data privacy landscape, Sumsub partnered with Nexus Technology in the Philippines, PT Ogya Tekno Nusantara, and PT Secure Pasifik Teknologi in Indonesia.