Jeton Wallet has formed a partnership with Sumsub in order to offer its consumers a platform for managing their finances that is both secure and effective. A major identity verification platform known as Sumsub has just recently published a case study that discusses the productive relationship between the two companies. Jeton Wallet desired to use automated processes to make their user verification process quicker, simpler, and less time-consuming while still complying with regulatory requirements such as KYC and AML regulations. Specifically, Jeton Wallet aimed to achieve this goal by implementing automated procedures. Jeton Wallet was able to comply with regulations, improve customer experience, decrease expenses, and accelerate onboarding thanks to the solution that was competitively priced and offered by Sumsub.
Jeton Wallet Grows Pass Rates in Asia by 50%
Sumsub, an identity verification platform, has recently published a case study highlighting its successful relationship with Jeton Wallet. According to the study, Jeton’s pass rates in Asia increased by 50% when it implemented Sumsub’s automated verification solutions. Jeton aims to streamline the user verification process while adhering to legal standards such as KYC and AML rules. Jeton was able to create quick matches between users’ faces and identities thanks to Sumsub’s facial recognition technology, resulting in a 30% increase in their total pass rate. Sumsub’s solution enabled Jeton to improve user experience, save expenses, and accelerate onboarding while maintaining compliance and safety standards.
What is Sumsub?
Sumsub is an all-in-one verification platform that secures every step of the user lifecycle with customizable KYC, KYB, KYT, and AML solutions. In the preceding case study, Sumsub collaborated with Jeton Wallet, a UK-based digital wallet provider, to streamline user verification and assure compliance with regulatory requirements such as KYC and AML legislation. Sumsub provides a number of tools to detect high-risk users, including ID verification, liveness and face match, AML screening, and ongoing monitoring across global watchlists, sanctions, PEPs, and adverse media. Sumsub’s facial recognition technology is AI-powered, allowing for instant matches between users’ faces and identities. Sumsub also offers clever and scalable solutions to assist firms stay compliant in new markets. Sumsub is well-known for providing high-quality services and ensuring its clients’ complete happiness.
Jeton Wallet’s Partnership with Sumsub
In order to accomplish this objective, Jeton entered into a partnership with Sumsub, a provider of automated verification solutions, in order to simplify the process of user verification. Sumsub provides an amazing level of customer and technical assistance in addition to providing a solution that is both competitive and cheap. Jeton is able to avoid fraud by validating the authenticity of users’ documents thanks to Sumsub, which also enables the company to comply with regulatory requirements, speed up the verification process, and save expenditures on human verification procedures.
Jeton is now in compliance with regulations thanks to Sumsub’s ID verification, Liveness and Face Match, and AML Screening features. These tools allow Jeton to improve the user experience, cut costs, and speed up onboarding. Sumsub’s facial recognition technology, which is driven by AI, is able to make immediate matches between users’ faces and their Identities. What’s more, the system’s ongoing monitoring across worldwide watchlists, sanctions, PEPs, and adverse media helps detect high-risk users.
Since Sumsub’s live tech support team was there to assist throughout the whole process, it only took Jeton a month to go live with the solution that Sumsub had put forth. Jeton was able to achieve a 30% boost in their total pass rate, bringing it up to 71%, and a 50% increase in pass rates in Asia as a direct result of these efforts. These enhancements are evidence of Jeton’s dedication to making their onboarding procedure more efficient, which is reflected in their decision to make them.
With Sumsub, Jeton is now able to prevent fraudulent activity and money laundering by making use of data such as IP addresses, duplicate accounts, and plenty more. Thanks to Sumsub’s solution, Jeton was able to considerably accelerate their verification processes, hence increasing their conversion rates while also reducing their costs. Sumsub offers a solution that is smart and scalable, which helps Jeton remain compliant in new markets. This solution is provided through full integration with Jeton’s AML and KYC standards.
Jeton’s collaboration with Sumsub has been effective, and the company has nothing but praise for the solution provided by Sumsub to other businesses operating in the fintech sector. Jeton’s choice of Sumsub as their document verification solution was strongly influenced by the company’s well-established reputation for providing services of the highest possible quality and ensuring the complete satisfaction of its clients. Jeton is able to continue to provide customers with an easy-to-use and convenient alternative to conventional banks and other financial institutions by utilising Sumsub, all while adhering to the highest possible compliance and safety standards.