Following this announcement, the new offerings include Sumsub ID and Reusable KYC and it aims to enable secure and efficient identity verification across multiple Sumsub client platforms, while also focusing on protecting user data and ensuring compliance.
The Reusable Digital Identity product suite is expected to effectively mitigate repetitive verification and redundant Know Your Customer (KYC) checks that negatively impact user experience and conversion rates for businesses and clients. In addition, the new offerings will focus on reducing applicant onboarding times and boosting conversion rates.
Sumsub has launched the combined product in order to optimise the manner in which both individuals and companies alike avoid repetitive verification steps, while also ensuring full compliance and security.
The Reusable Digital Identity suite includes two services, the Sumsub ID and Reusable KYC, both of which enable end-users to skip verification steps, such as document uploads. This procedure takes place while ensuring that all checks required for regulatory adherence for businesses still take place.
Sumsub ID was developed in order to enable end-customers to securely store and reuse their verified documents for multiple verifications across Sumsub client platforms, while the Reusable KYC tool allows companies and institutions to agree to share applicants’ data upon receiving their consent. Sumsub launched both features in order to further enhance customer experience, while also ensuring full compliance and adding an extra layer of protection. At the same time, by offering faster and more efficient ways to verify identities, the Reusable Digital Identity platform aims to help users speed up applicant onboarding and improve conversion rates for firms.
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