Identity verification is top of mind for many brands as we increasingly move to an online world. Identity verification from a user experience perspective has been painful and slow, including overall lack of information, poor global coverage, manual profile review, and low pass rates, Sumsub is here to change that.
Freshly armed with $6M in Series A they are bringing their suite of identity management solutions including and identity management workflow solution that allows businesses to built a custom verification process for their business.
Another new feature they recently launched is called “Liveness technology”. Using camera technology from your mobile phone, they can enable you to allow participants to take video and do a 3D scan of their face to verify their likeness live “Liveness” and verify their identity in second.
Sumsub’s identity technology has implications for e-commerce, fintech, trading and other transactional economies where fraud can an issue when conducting business in a digital world. Another potential impact will be in the hiring or distributed and remote employees in our new distributed working world. Sumsub’s employee identification tool will help employer more quickly and with greater accuracy ensure that they can verify the identity of new hires, even from across an ocean.
Identity verification has rapidly become a growing field as our world, and our financial transactions increasing are moving into a digital playing field. Hiring employees across country lines, large scale financial transactions in online marketplaces, and e-commerce are just a few of the industries that will be in-demand for new and easier to use identity verification technology and that demand will only increase over the next decade.