Sumsub partners with AML Incubator to simplify IDV

Friday 8 September 2023 11:25 CET | News

Full-cycle verification platform Sumsub has announced a partnership with Canada-based regulatory compliance outsourcing company AML Incubator to simplify identity verification.


A provider of solutions and consulting services across varied countries including the US, the EU, and Canada, AML Incubator selected Sumsub as its strategic partner for effective customer onboarding.

Identity verification and Sumsub – AML Incubator partnership details

Based on the press release information, the collaboration enables Sumsub to provide AML Incubator with onboarding and monitoring products as a simple integration within its platform, offering AML Incubator’s fintech clients enhanced user and legal entity verification capabilities. This is set to allow them to simplify the onboarding process and make verification flows increasingly efficient while simultaneously helping ensure anti-money laundering (AML) compliance with regulatory requirements.

Under the terms of the partnership, AML Incubator is going to integrate Sumsub’s verification platform into its existing systems, providing customers with a comprehensive onboarding solution including Know Your Business (KYB), Know Your Customer (KYC), AML checks, and transaction monitoring, amongst others. What is more, Sumsub is set to leverage AML Incubator’s expertise in regulatory compliance to improve its platform’s functionality and provide customers with additional value.

Sumsub partners with AML Incubator to simplify IDV

When commenting on the announcement, an AML Incubator representative advised that the strategic partnership with Sumsub brings a synergy of AML Incubator’s expertise and Sumsub’s verification platform. Per their statement, this is set to help them streamline the onboarding process for their clients, helping ensure compliance with evolving regulations and mitigate risks in an effective manner.

Further adding on this, Sumsub company officials said that becoming strategic partners with AML Incubator marks a milestone for Sumsub. As the enterprise's platform is designed to help simplify and streamline the onboarding process for businesses while ensuring an increased level of compliance, the spokesperson believes the collaboration with AML Incubator enables Sumsub to further enhance its product offering and enrich its compliance expertise in North America and beyond.

AML Incubator, Sumsub’s mission and offering

A fractional compliance outsourcing company, AML Incubator specialises in delivering compliance outsourcing services to fintech, MSBs, VASPs, and various other industries. The company helps assist in overcoming regulatory challenges to enable companies to focus on their core business.

A full-cycle verification platform securing the entire user journey, Sumsub provides customisable KYC, KYB, transaction monitoring, and fraud prevention solutions, helping companies orchestrate their verification processes, welcome more customers worldwide, meet compliance requirements, reduce costs, and protect their businesses. The company has more than 2,000 clients across the fintech, crypto, transportation, trading, ecommerce, and gaming industries, including Binance, Mercuryo, Bybit, Huobi, Unlimint, DiDi, Poppy, and TransferGo.

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Keywords: partnership, identity verification, digital onboarding, compliance, regulation, KYC, KYB, AML, fintech, transaction monitoring
Categories: Fraud & Financial Crime
Companies: AML Incubator, Sumsub
Countries: North America
This article is part of category

Fraud & Financial Crime

AML Incubator



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