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Sumsub is the first regulated Compliance-as-a-Service provider

Sumsub is the first regulated Compliance-as-a-Service provider

Sumsub, a global identity verification software provider, offers Compliance-as-a-Service for regulated businesses to help them fully adhere to KYC/AML regulations.

 Sumsub, a tech company that offers an all-in-one technical and legal toolkit to cover KYC/KYB and AML needs, has become the first regulated Compliance-as-a-Service provider for global businesses. Now companies can delegate their compliance and verification related issues to Sumsub and focus entirely on their core business goals.

Backed up by its powerful in-house team of experts, Sumsub is a proven leader in identity verification, KYC/KYB and AML compliance, helping businesses all around the world successfully verify users and comply with regulations. Today this leadership is proven once again, with the launch of Compliance-as-a-Service that can be adjusted to the specific needs of different customers.

Businesses can benefit from this service in two main ways. First, Sumsub offers consultation support, which means that our compliance experts will assist in drafting AML policies, consult on regulatory specifics and provide practical advice on building user verification processes in a fully compliant and efficient way.

Second, clients may outsource their compliance tasks to Sumsub, and take full advantage of the AI-powered antifraud software and full-time compliance assistance on offer. This means that Sumsub’s in-house compliance officers and AML analysts will handle the client’s KYC-related tasks—reviewing sensitive or complex cases, studying compliance regulations across different regions, monitoring user onboarding processes, handling suspicious transactions, etc.

“With Compliance-as-a-Service provided by Sumsub, companies can gain expert consultation support wherever they need it, or they can fully rely on our compliance officers team and outsource their verification-related projects and processes. Regulated businesses will get multiple benefits from such collaboration, since Sumsub’s experts are ready to get the job done—completing these KYC/AML tasks in accordance with specific needs and applicable regulations. Solving compliance issues timely will help companies minimize expenses, spare human resources and save millions on potential fines from regulators” – explains Tony Petrov, Chief Legal Officer.