Jeton enables users to deposit and withdraw funds with country-specific payment options, easily making online payments using over 70 payment methods in 50 currencies. Through this partnership, Jeton will leverage Sumsub’s all-in-one verification platform, which includes identity verification, AML screening, and ongoing monitoring. Officials from Jeton have stated in the company press release that they were looking for a document verification solution to scale up to new markets while staying compliant.
They chose to partner with Sumsub because their solution incorporates machine learning and AI technology to automate and accelerate the verification process while remaining compliant with KYC requirements worldwide.
According to Sumsub, their AI-driven anti-fraud tools make user onboarding fast and secure, while helping businesses scale to international markets. The company has more than 2,000 clients across the fintech, crypto, transportation, gaming, and trading industries, and it has previously partnered with entities such as Mercuryo, Binance, and Moonpay.
The company’s identity verification solution verifies users by checking their IDs and live presence, and it also screens global sanctions, watchlists, PEPs, and adverse media. In order to combat fraud, the system ensures user documents are authentic by checking security features and traces of photoshop. It also reveals risky clients by assigning behavioural risk scores and checking an internal list of more than 1 million fraudsters.
In August 2022, Sumsub has announced its expansion in the United States, following the opening of its first office in Miami, Florida. As it enters the US market, the regtech company will launch a series of new services exclusively available for US customers, while helping businesses stay compliant and fighting digital fraud.
In the same month, Sumsub announced its first KYC guide for the gaming industry. The guide details the primary challenges that the gaming industry is facing, including staying compliant with the latest KYC/ AML regulations that vary from market to market. Furthermore, it provides advice on how to maintain a high level of fraud prevention while still promoting a user-friendly and seamless online gaming experience.
In July 2022, Sumsub published a Know Your Customer (KYC) guide to help trading platforms remain compliant, increase pass rates, and efficiently deter fraud alerts.
The guide offers actionable solutions for three main challenges regarding trading companies, namely compliance with KYC/ AML regulations, creating a quick onboarding process to verify users, and keeping up with the latest in terms of fraud prevention.
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