Latest news with #Sumsub
Finextra
09-07-2025
- Business
- Finextra
Sumsub and Linea showcase new on-chain identity attestations via Verax
Sumsub, a global leader in verification, announced its integration with Verax, the attestation service built on Linea, the Ethereum Layer 2 network developed by Consensys. 0 During the week of the EthCC in Cannes, Sumsub demonstrated how the companies are launching a streamlined way to issue on-chain identity attestations, giving Web3 users a fast and secure method to prove they are verified, and eligible for rewards or services - without compromising privacy. This marks the second public rollout of Sumsub's on-chain attestation capabilities, following the successful debut of the Sumsub ID integration with Solana's Attestation Service at Accelerate New York in May 2025. Sumsub ID is part of the company's Reusable Digital Identity product suite, launched in March 2025. The product enables end-users to pre-verify themselves and securely store and reuse their documents for multiple verifications across Sumsub client platforms, simplifying compliance and improving end user experience. Users begin on the Linea Hub and they are then redirected to Sumsub to create a Sumsub ID, undergoing a fast and secure Liveness check to confirm they are a real human. After connecting their MetaMask wallet, an AML check is performed on the wallet address in the background, to ensure that sanctioned wallets are not able to use the service. Once verified, Sumsub issues an on-chain attestation to the user's wallet using the Verax Attestation Service. This credential is recorded on the Linea blockchain and visible on its explorer. Users are then prompted to explore the Linea ecosystem of dApps using their newly verified wallet, with gas fee refunds processed according to offer terms. Linea is supporting the initiative through ensuring every user who creates an attestation will receive twenty free transactions on Linea. This new flow highlights how on-chain credentials, such as attestations confirming a user is a real human, can enhance Web3 experience and trust, by allowing to programmatically verify humanity and uniqueness in a web3-native programmatic way, while preserving privacy. As these credentials are recorded publicly on-chain, they can be reused by any dApp within the Linea ecosystem, helping drive seamless interoperability and a more connected user journey. The integration also aligns with the growing trend toward reusable digital identity, enabling frictionless access to multiple services while helping ecosystems scale securely. Verax attestations are issued gas-free and require no document uploads unless specified. For future use cases requiring more stringent KYC, Sumsub ID supports pre-verification and optional storage of user identity documents to fast-track future onboarding. 'Our integration with Linea marks a powerful next step in our mission to bring reusable, privacy-first identity to every corner of Web3,' said Ilya Brovin, Chief Growth Officer at Sumsub. 'As more ecosystems adopt on-chain credentials, we're building the infrastructure needed for users to verify once and remove unnecessary repetition and friction - without compromising on high security standards. By combining gasless attestations with Layer 2 scalability, this rollout integration helps to ensure a more user-centric, secure, and interconnected Web3.' Sumsub ID allows individuals to pre-verify once and reuse their identity data across multiple services. It can reduce onboarding time by up to 50% and boost conversion rates by 30%, offering businesses a more efficient route to compliance while improving user experience.
Finextra
08-07-2025
- Business
- Finextra
Next Generation taps Sumsub for fraud protection and KYC compliance
A global leader in verification and anti-fraud Sumsub has been selected by France-based fintech platform Next Generation NGPES to provide advanced fraud protection, identity verification and AML regulation compliance as it launches an innovative payment ecosystem, including an EUR-backed stablecoin. 0 The Next Generation Payment Ecosystem (NGPES) is designed to bridge traditional finance (TradFi) and digital assets within a unified solution. This will encompass everything from digital asset custody and settlements to regulatory compliance, as well as integrating IBAN transactions into a digital wallet for near-instant financial transactions. Sumsub's cutting-edge verification solutions, which combine traditional KYC checks with Liveness detection, transaction monitoring, and other fraud prevention capabilities, will ensure the platform will deliver unparalleled security and compliance. Next Generation's launch of a stablecoin, set to become a core component of the NGPES, makes security and compliance even more important as the crypocurrency industry tries to stay ahead of fast-moving regulations and high fraud rates. Sumsub's data shows that fraud in the crypto industry soared by 48% in 2024. Furthermore, 60% of crypto companies foresee stricter regulations - which are not easy to abide by, as highlighted by the fact that only 29% fully comply with the Travel Rule. 'We're thrilled to be selected by Next Generation as its verification and anti-fraud partner. Payments, particularly when it involves cryptocurrency, is a sector increasingly targeted by fraudsters, who themselves are becoming more numerous and better organised', says Ilya Brovin, CGO at Sumsub. 'Whether by forged documents or AI-generated videos, new tech - particularly AI - is making fraud more sophisticated, and so innovative companies like Next Generation need partners who can keep up with the fraudsters. This must mean full-cycle, AI-augmented fraud detection and verification - as our data shows over three-quarters of fraud happens after initial KYC checks.' "Next Generation has been rapidly building up NGPES. The past six months have marked important milestones in the history of our ecosystem. We have achieved DASP registration in France, secured $5 million in an international seed funding round, and diligently expanded our network of launch partners—including some major industry names," said Frank Cambay, COO of Next Generation NGPES. "We are entering the market with a commitment to leveraging cutting-edge technology across all aspects of our operations. The DASP registration and the trust of our investors come with strict compliance obligations, making KYC/AML and fraud prevention critical. We're thrilled to partner with Sumsub in this key area of development. Their deep expertise in digital assets, proven track record across numerous projects, and global reach make them the ideal partner to help us scale new heights."
Techday NZ
26-06-2025
- Business
- Techday NZ
Sumsub & Data Zoo partner to boost global fraud prevention
Sumsub has entered into a partnership with Data Zoo to offer improved compliance and fraud prevention solutions aimed at supporting financial institutions worldwide. The partnership is designed to bring together Sumsub's full compliance suite, which includes verification and anti-fraud tools, with Data Zoo's array of identity verification data sources across multiple global markets. Global compliance Financial entities are under increasing pressure as regulatory requirements become more demanding and fraud attempts grow in sophistication. Access to reliable, authoritative data has become essential for institutions to ensure regulatory compliance and mitigate fraud risks. However, many companies in the sector face challenges managing data that is often dispersed across disconnected systems and geographies. By collaborating, Sumsub and Data Zoo aim to provide a comprehensive solution that will enable institutions and businesses to streamline onboarding and authentication processes, thereby reducing operational inefficiencies and supporting regulatory compliance across jurisdictions. Combined technology and data Sumsub's platform will allow clients to onboard users efficiently, conduct anti-money laundering (AML) checks, verify business customers, and monitor transactions for suspicious activity. All these features can be managed from a single platform. Data Zoo will extend the reach of Sumsub's verification and monitoring capabilities by providing direct data checks. These checks are intended to help distinguish legitimate customer behaviour, prevent fraudulent account access, and ensure more reliable identification. By combining Data Zoo's data source network with Sumsub's compliance tools, the partnership is aimed at delivering end-to-end KYC (Know Your Customer) and KYB (Know Your Business) solutions. This integration is also expected to support banks, financial institutions, and fintech companies in upholding their reputations while reducing vulnerability to security breaches and fraud-related losses. Industry perspectives Andrew Wilson, Chief Executive Officer at Data Zoo, commented on the increasing demand for reliable verification and orchestration technologies, saying: "Customers are increasingly seeking authoritative identity verification data combined with leading edge orchestration technology to verify customers in real-time. We are pleased to partner with Sumsub who are a recognized industry leader in innovation, bringing the latest technological advances to the market". Chris Manson, who leads Strategic Partnerships at Sumsub, highlighted the evolving fraud landscape, with new threats such as deepfake attacks emerging rapidly. Manson noted the importance of a multi-layered strategy for fraud prevention, stating: "Partnering with Data Zoo enables us to continue helping businesses verify users and clients smoothly, while continually mitigating fraud threats. Our recent internal findings show that deepfake fraud, among other emerging AI-driven techniques, surged fourfold globally last year. While robust KYC remains essential, we see that three quarters of fraud actually occurs post-onboarding – reaffirming the need for a multi-layered approach that includes ongoing monitoring. Together with Data Zoo, we're expanding our ability to help businesses stay compliant, fight fraud, and protect their users at each step of their journey." Onboarding and fraud mitigation The set of solutions made possible by the partnership is intended not only to help with compliance, but also to streamline the onboarding of new customers for financial services companies. By integrating Sumsub's platform, organisations may be able to adopt identity verification, AML screening, and transaction monitoring processes with less complexity and improved operational speed. Sumsub's recent findings indicate a rising trend in sophisticated digital fraud, driven by the adoption of new technologies such as AI-based deepfakes. The company maintains that ongoing customer monitoring, beyond the initial onboarding, is essential to reduce exposure to such risks. With coverage spanning over 170 jurisdictions, Data Zoo provides access to a wide variety of independent data sources. By integrating with Sumsub's technology, clients will be able to develop a risk-based approach to compliance and identity verification that is scalable and adaptable to multiple regulatory environments. Both companies have said that, through their joint offering, banks, fintechs, and other financial institutions can expect enhanced fraud prevention, improved operational efficiency, and better protection for their end users during each stage of the customer life cycle.
Finextra
25-06-2025
- Business
- Finextra
Data Zoo to provide fraud support to Sumsub
Sumsub, a global verification leader, has partnered with Data Zoo, a global provider of authoritative business and customer identity verification data, to support financial institutions worldwide with their compliance processes. 0 Sumsub and Data Zoo will collaborate in multiple markets, offering Sumsub's full compliance suite of verification and anti-fraud solutions with Data Zoo's growing global data capabilities. As financial institutions face growing regulatory demands and increasingly sophisticated fraud, seamless access to reliable data is critical. Companies across various industries try to navigate stringent requirements, while simultaneously dealing with data spread across disconnected systems and locations. Together, Sumsub and Data Zoo will be able to offer a full end-to-end solution. Sumsub enables customers to onboard new users swiftly, perform anti-money laundering (AML) screening on customers, verify business clients, and monitor for fraud and suspicious transactions with the option to adopt and manage all features through a single platform. Data Zoo will extend Sumsub's data capability requirements, supplementing technology with data checks that will provide further capabilities to identify genuine customer behaviour, and halt bad actors from accessing customer systems. In addition to helping financial institutions comply with sector-wide regulations, the partnership helps banks, financial institutions and fintechs uphold their reputation, safeguard against security issues and reduce operational inefficiencies. The collaboration streamlines customer onboarding processes, ensuring efficiency, while Sumsub's solutions mitigate potential fraud expenses that might hinder their financial performance. 'Customers are increasingly seeking authoritative identity verification data combined with leading edge orchestration technology to verify customers in real-time' said Andrew Wilson, CEO at Data Zoo. 'We are pleased to partner with Sumsub who are a recognized industry leader in innovation, bringing the latest technological advances to the market'. 'Partnering with Data Zoo enables us to continue helping businesses verify users and clients smoothly, while continually mitigating fraud threats. Our recent internal findings show that deepfake fraud, among other emerging AI-driven techniques, surged fourfold globally last year, 'said Chris Manson, Strategic Partnerships at Sumsub. 'While robust KYC remains essential, we see that three quarters of fraud actually occurs post-onboarding - reaffirming the need for a multi-layered approach that includes ongoing monitoring. Together with Data Zoo, we're expanding our ability to help businesses stay compliant, fight fraud, and protect their users at each step of their journey.'
Arabian Post
23-06-2025
- Business
- Arabian Post
Rock-West broker 2025
When it comes to choosing a broker, it's essential to consider not only the trading conditions but also how convenient and safe it is to work with the platform every single day. After all, trading isn't just about placing orders—it's also about comfort, support, and confidence in tomorrow. That's exactly why more and more traders are choosing Rock-West. Every element of the service here is designed with client convenience in mind. Starting with 24/7 account access—you can manage your account anytime, day or night. Want to open a trade early in the morning or withdraw your profits late at night? No restrictions. The platform works around the clock, and the dedicated customer support team is always available. And it's not just chatbots or copy-paste responses—these are real specialists who genuinely help, know the products, and solve issues quickly. ADVERTISEMENT The safety of your funds and personal data is another critically important aspect. Rock-West operates under an FSA license (License No. SD044), confirming compliance with strict international standards. On top of that, the KYC process is handled through Sumsub, a globally trusted verification provider. This ensures automated, fast, and secure identity verification. No need to gather piles of documents—just upload a photo of your passport or ID, and the system will handle the rest. This approach is appreciated by both beginners and experienced traders who are used to working with transparent and legitimate platforms. When it comes to deposits and withdrawals, the platform offers numerous convenient methods, including popular options like SEPA and bank transfers. This is especially convenient for European traders who prefer traditional financial channels. All payments are processed through encrypted, secure channels, fully protecting your sensitive information. Moreover, deposit and withdrawal fees are minimal or even nonexistent, making this platform stand out from many others in the market. Now let's talk about the trading conditions, which truly deserve attention. For active traders who prefer scalping or intraday strategies, the Raw Account with zero spreads is ideal. It's a real tool for those who value precision and fast execution. Trading with zero spreads helps you save significantly on every transaction, which is crucial when working with high-frequency trading strategies. In addition, low commissions of just $8 per lot make trading cost-effective even when executing numerous trades. The platform supports a wide range of assets—from popular currency pairs like EUR/USD to gold, oil, and CFDs on cryptocurrencies. This selection allows you to build flexible strategies and respond to any market conditions. High execution speed and no slippage ensure that your trades are executed reliably, even during major economic announcements. Another important advantage is the modern trading platforms offered. Traders have access to MT5, the proprietary RW Mobile App, and RW Trade—giving you full access whether you trade from a desktop or mobile. The interface is simple and intuitive, while the functionality includes one-click order execution, detailed charts, and all the essential analytical tools you need. It's also worth mentioning the negative balance protection that's built into the system. Even if the market moves sharply against your position, you won't lose more than your deposited amount. This provides an extra layer of security, especially valuable for those who are just starting to explore trading. As a result, you get a full package of advantages: ✔ 24/7 access to your account, with the ability to trade anytime. ✔ Dedicated professional support available around the clock. ✔ FSA license and secure KYC process via Sumsub. ✔ Raw Account with zero spreads, perfect for active strategies. ✔ Low commissions and instant order execution. ✔ Convenient deposit and withdrawal options, including SEPA and bank transfers. ✔ Modern trading platforms and mobile apps. Rock-West is more than just a broker—it's a comprehensive trading environment where everything has been carefully designed, from regulation to the user interface. It's a platform built for those who value transparency, support, and real advantages. Also published on Medium. Notice an issue? Arabian Post strives to deliver the most accurate and reliable information to its readers. If you believe you have identified an error or inconsistency in this article, please don't hesitate to contact our editorial team at editor[at]thearabianpost[dot]com. We are committed to promptly addressing any concerns and ensuring the highest level of journalistic integrity.
