Inquiry about data provided post verification to Sumsub clients
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Sumsub, a leading identity verification provider, has launched a bi-weekly Q&A series on its social media platforms (Instagram and LinkedIn) to shed light on its innovative solutions. Eddie Moxon-Garcia, the product marketing lead at Sumsub, will be the host of the series.
Sumsub offers a scalable User Verification solution designed to facilitate global expansion. Its solution includes a Know Your Customer (KYC) process, Address Verification, Proof of Address (POA), and Non-Doc Verification. The Non-Doc Verification process involves high-quality images of submitted documents and selfies, video recordings, and questionnaire answers.
The identity verification process is robust and comprehensive, incorporating multiple layers of checks and screenings. It begins with validating official documents such as passports and ID cards, along with biometric data. Sumsub cross-checks users against global sanctions lists and Politically Exposed Person (PEP) registries to ensure compliance with Anti-Money Laundering (AML) regulations.
To prevent fraud, Sumsub uses device behavioral data, such as mouse movement, device fingerprint, and battery usage patterns, to detect emulators or automated attacks. The platform also includes transaction monitoring for clients utilizing Sumsub’s Transaction Monitoring solutions, enabling real-time risk detection and ongoing monitoring of transactions across fiat and stablecoin payments.
Sumsub's platform is customizable and dynamic, allowing clients to adapt verification flows according to compliance requirements and audit recommendations. It covers a wide range of document types and ensures GDPR compliance and data security throughout the verification process, giving users control over their personal data and the option to reuse verified identity data for faster future onboarding.
After the verification process, Sumsub's clients receive detailed information about the user's verified identity, including full name, national identity number, date/place of birth, customer ID, and confirmation of document authenticity. The information also includes risk-related insights like the user's status as a PEP or presence on sanctions lists. The data collected during verification, such as technical and behavioral data, helps detect fraud patterns.
In summary, Sumsub's comprehensive identity and risk data go beyond mere document verification, incorporating behavioral and transaction monitoring to support compliance, fraud prevention, and risk management during and after the verification process. The Q&A series will be posted every other Thursday, providing valuable insights into Sumsub's innovative solutions and the future of identity verification.
[1] Source: Sumsub's official website [2] Source: Sumsub's Transaction Monitoring product page [3] Source: Sumsub's GDPR Compliance statement [4] Source: Sumsub's Document Verification product page [5] Source: Sumsub's Customizable Verification Flows page
Technology plays a crucial role in Sumsub's innovative identity verification solutions, incorporating device behavioral data and transaction monitoring to prevent fraud and ensure compliance with regulations. Finance, being the sector where these solutions are mainly applied, benefits greatly from Sumsub's advanced technology in streamlining verification processes and enhancing risk management.
