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Integrated KYC/AML Compliance with Sumsub & Scalable

Jan 20, 2021
Sumsub Scalable Integration

White label exchange software provider Scalable Solutions has integrated Sumsub, an all-inclusive KYC/AML compliance platform. 

As regulation around digital asset management and services is becoming clearer and more demanding, compliance is top of mind for exchanges, institutions and other financial services providers. Having access to a one-stop-shop for all compliance needs can significantly lower the costs usually associated with KYC/AML compliance procedures, such as technology integration and operations, human resources and maintenance costs. 

Sumsub tackles all onboarding and compliance challenges that come with identity verification. It optimizes KYC and AML procedures by converting existing policies into automated digital processes that allow faster and safer customer onboarding. 

Scalable Solutions and Sumsub have partnered to further offer clarity and ease of compliance integration to their clients, which range from exchanges, brokerages, wallet providers, institutional players, fintech companies and more. Hence, the integration is able to:

  • Drive conversion of customers – identity verification becomes a smooth process and no longer a bottleneck in the onboarding procedure. This eliminates user frustration and saves time for financial services providers, creating an overall better customer experience. 
  • Optimize costs – having to coordinate verification with multiple providers is not only time consuming and costly, but also oftentimes inefficient. Sumsub’s user-friendly interface allows transparent checks, improved workflows and customizability, all from one monitor and source. 
  • Champion compliance and prevent fraud – compliance with local and international legal frameworks and regulations (think FATF, FINMA, FCA, CySEC, MAS) is integrated. Fraud recognition services and extensive legal expertise prevent the risk of unlawful activity taking place. 

Before the partnership, Scalable Solutions and Sumsub already had quite a few mutual clients, such as Bitcoin.com and Changelly, which further convinced the two companies to collaborate.

Mark Berger, founder of Scalable Solutions, added: 

“As a company that values security and knows its importance for our clients, we’re glad to have integrated with Sumsub to provide KYC and AML compliance services that are transparent, easy to navigate and a pleasure to work with.” 

Jacob Sever, Co-founder of Sumsub, said:

“If trading businesses want to avoid fines and keep their platforms out of trouble, compliance with regulatory demands is vital. We’re happy to supply Scalable Solutions with a secure and user-friendly tool. Now their clients can stop worrying about complicated regulations and onboard more efficiently.”

 

 

 

About Sumsub 

Sumsub is an identity verification platform that provides an all-in-one technical and legal toolkit to cover KYC/KYB/AML needs. The company focuses on accelerated ID verification, digital fraud detection, and compliance in over 200 international markets. Sumsub combines top technologies with legal expertise and assistance with financial requirements (FCA, CySEC, MAS, FINMA, BAFIN, etc). Clients include BlaBlaCar, Gett, ESL Gaming, JobToday, Wheely, Bitcoin.com, Changelly, Decta, Exness, HRS Group.

Awards: Benzinga Global Fintech Awards 2018, The UK Startups 100 2020, PwC nomination for ‘The best use of tech award’.

Sumsub Contacts

Olya Laktyushina 

olya.l@sumsub.com

About Scalable Solutions

Scalable Solutions is a global technology and service company that focuses on developing state-of-art white-label blockchain solutions for our clients. The institutional-grade trading software which serves as a B2B solution for exchanges and brokers has never been compromised. Besides innovative technology, the security of exchange systems is a significant area of value and pain-point the company is solving for its clients. 

Contact us at sales@scalablesolutions.io

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