Sumsub invests USD 1 mln in software development

Wednesday 31 March 2021 10:45 CET | News

Sumsub, a startup that helps companies fight money laundering and online fraud, has invested over USD 1 million in software development.

Its latest feature is ‘Prooface’, a solution for ID verification and onboarding that is commonly used in digital banking industry. It should also provide iBeta compliant protection against the fraud vectors — presentation attacks, replay attacks, API injection, and deep fakes.

For this onboarding process, users are asked to turn their head in a small circle, enabling swift biometric analysis of facial characteristics. Prooface takes live selfies from different angles, collecting biometric data, encrypting it, and sending it back for analysis. 

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Keywords: digital onboarding, product launch, startup, money laundering, online fraud, identity verification, digital banking, API, deep fake, biometrics
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime