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Sumsub takes selfie biometrics to SMB market with new service

New honors for Socure and Shufti Pro, new client for Onfido
Sumsub takes selfie biometrics to SMB market with new service

Sumsub is launching a new set of services to give small and medium-sized businesses an easy way to adopt selfie biometrics for remote identity verification. Announcements continue to roll in from around the market segment, meanwhile, with Onfido signing up a DeFi platform, and new honors for Socure and Shufti Pro.

Sumsub for SMBs

Sumsub has launched a Self-Start Service to enable small businesses to make use of its selfie biometrics and liveness detection for identity verification processes.

The service has more than 100 companies already signed up at launch, and Sumsub says it plans to eventually reach 100,000 small businesses around the world. Those businesses can perform know your customer (KYC) and anti-money laundering (AML) checks for remote customer onboarding with protection against fraud.

Three plans are offered under the service, each including 50 free background checks.

“Small and medium businesses are constantly exposed to fraud attempts. Identity verification is a service offered by many companies,” says Sumsub Chief Product Officer Andrew Novoselsky. “However, choosing a reliable partner with flexible terms and conditions that can be tailored to the customer is not an easy task. We give our prospective clients the choice of trying our platform out and deciding how to invest their budget on fighting fraud.”

Sumsub’s no-code anti-fraud platform can be configured manually, and provides a range of solutions for fully-automated and agent-assisted identity verification, the company says.

Onfido customer win

Algorand blockchain network security provider Vendible has selected Onfido’s ID document and selfie biometrics for identity verification.

Vendible provides a secure data storage layer and ledger for decentralized finance (DeFi) transactions.

“With the ability to securely board members worldwide with as little friction as possible, Onfido was the clear choice for us to integrate,” states Doug Broughton, Vendible CEO.

“We’re pleased to partner with Vendible as it continues to power payment technologies with trust, privacy and security at the forefront,” says Alex Valle, CPO at Onfido. Valle says Onfido will help “Vendible scale and expand its use cases into new geographies.”

Recognitions for Socure, Shufti Pro

Socure has been named ‘Best-in-Class’ among eight competitors, based on high scores in client strength and service, in Aite Novarica Group’s ‘Global Document Identification and Verification Impact Report.’

The report credits Socure’s Predictive Document Verification (DocV) product for bringing innovative technologies to the market, including age estimation through computer vision, according to the announcement.

“Legacy solutions aren’t accurately predicting whether or not it is safe to allow a user to enter a company’s ecosystem. This is an essential part of doing business that now goes beyond financial services, supported by Aite-Novarica calling out that 74 percent of clients in industries such as age-restricted products, automotive, cryptocurrencies, entertainment, gaming, gig economy, healthcare, transportation, hospitality, and utilities are now investing in this technology,” states Johnny Ayers, founder and CEO of Socure.

Shufti Pro has won Regulation Asia Awards for Excellence 2021 in the Best Solution – KYC and Onboarding category for its biometric liveness detection and real-time identity verification technology.

“The global market size of digital KYC is expected to reach USD 1,015.36 million by the end of 2026,” says Victor Fredung, CEO of shufti Pro. “Shufti Pro’s “Best Solution” Regulation Asia Award win validates our efforts to provide effective KYC solutions that benefit businesses in enhancing operational efficiency, regulatory compliance, and client experience. We are honored to provide KYC/AML solutions that are configurable to global compliance regulations.”

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