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Sumsub brings biometric selfie and ID check to Polymath security token services marketplace

Biometric compliance-as-a-Service provider Sumsub has joined the Polymath Service Provider Marketplace to provide KYC and other regulatory checks to Polymath’s security token customers.

Sumsub enables security token issuers to apply selfie facial verification and ID document checks to determine who can access their tokens, performing AML and KYC checks for individual and corporate clients, along with accredited investor checks, according to the announcement.

“Ongoing compliance across multiple jurisdictions is vital for security tokens,” says Graeme Moore, head of tokenization at Polymath. “With professional legal expertise and bank-grade procedures, we are proud to be collaborating with a company on the front lines of this effort like Sumsub.”

The partnership gives Polymath security token offering (STO) customers bank-grade compliance services from Sumsub according to their jurisdictional requirements, the companies say.

“We are thrilled by the security tokenization market and see great potential in the industry,” comments Sumsub Co-founder Jakob Sever. “Polymath is the leading player on the market and we are very pleased to see how our accumulated expertise, experience and technology will assist in the development of such a project and the wider security token sector.” 

The mobile identity proofing field is becoming increasingly crowded, with Ipsidy joining the market earlier this year.

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