Sumsub is launching a new set of services to give small and medium-sized businesses an easy way to embrace selfie biometrics for remote identity verification. Meanwhile, announcements continue to pour in from across the market segment, with Onfido signing a DeFi platform and new honors for Socure and Shufti Pro.
Sumsub for SMEs
Sumsub launched an auto-start service to allow small businesses to use its selfie biometrics and liveliness detection for identity verification processes.
The service already has more than 100 companies registered at launch, and Sumsub has announced its intention to eventually reach 100,000 small businesses worldwide. These companies can perform Know Your Customer (KYC) and Anti-Money Laundering (AML) checks for remote customer onboarding with fraud protection.
Three plans are offered as part of the service, each including 50 free background checks.
âSmall and medium-sized businesses are constantly exposed to attempted fraud. Identity verification is a service offered by many companies, âsays Andrew Novoselsky, Sumsub Product Manager. âHowever, choosing a reliable partner with flexible terms and conditions that can be adapted to the customer is not an easy task. We give our potential clients the choice to try our platform and decide how to invest their budget in the fight against fraud.
Sumsub’s passcode-less anti-fraud platform can be configured manually and provides a range of solutions for fully automated, agent-assisted identity verification, the company said.
Winning Onfido client
Network security provider Algorand blockchain Vendible has selected Onfido’s identity document and selfie biometrics for identity verification.
Vendible provides a secure data storage layer and general ledger for Decentralized Financial Transactions (DeFi).
âWith the ability to safely integrate board members around the world with as little friction as possible, Onfido was the obvious choice for us to integrate,â said Doug Broughton, CEO of Vendible.
âWe are thrilled to partner with Vendible as it continues to power payment technologies by putting trust, privacy and security at the forefront,â said Alex Valle, CPO at Onfido. Valle says Onfido will help “Vendible to evolve and expand its use cases to new geographies.”
Awards for Socure, Shufti Pro
Socure was named ‘Best in Class’ out of eight competitors, based on high scores for strength and customer service, in Aite’s ‘Document Identification and Verification Global Impact Report’ Novarica Group.
The report credits Socure’s predictive document verification (DocV) product with bringing innovative technologies to market, including computer vision age estimation, according to the announcement.
âExisting solutions cannot accurately predict whether or not it is safe to allow a user to enter a business ecosystem. This is a critical part of doing business that now goes beyond financial services, supported by Aite-Novarica, claiming that 74% of clients in industries such as products subject to age restrictions , automotive, cryptocurrency, entertainment, gaming, concert economics, healthcare, transportation, hospitality and utilities are now investing in this technology, âsays Johnny Ayers, Founder and CEO of Socure.
Shufti Pro won the Regulation Asia Awards for Excellence 2021 in the Best Solution – KYC and Integration category for its biometric alertness detection and real-time identity verification technology.
âThe global digital KYC market size is expected to reach $ 1,015.36 million by the end of 2026,â said Victor Fredung, CEO of shufti Pro. âThe Shufti Pro ‘Best Solution’ award in Regulatory Asia validates our efforts to deliver effective KYC solutions that benefit businesses by improving operational efficiency, regulatory compliance and customer experience. We are honored to provide configurable KYC / AML solutions in accordance with global compliance regulations. “
LAM | biometric alertness detection | biometrics | document verification | facial biometrics | identity verification | KYC | without code | integration | Onfido | Shufti Pro | Socur | Sumsub