Advapay and Sumsub Collaborate to Automate KYC and AML

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Advapay and Sumsub Collaborate to Automate KYC and AML

By CFO Tech Outlook | Monday, November 16, 2020

Advapay and Sumsub are revolutionizing the financial services industry with automatic KYC and AML solutions.

FREMONT, CA: A digital banking platform for the fintech industry, Advapay, and an identity verification platform, Sumsub have partnered with each other to provide digital banks and fintech players with smartKYC and AML solutions. Advapay is a digital-first fintech advisory company that operates on Estonian technology and offers a complete suite of fintech solutions to regulated payment service providers, whereas Sumsub delivers KYC, KYB, and AML solutions. The partnership of the two companies would help in making the scope of high tech banking wider, along with automating KYC and AML functions.

As identity verification has become a mandatory requirement for all fintech businesses, Sumsub would be helping the businesses that would be the users of Advapay. The collaboration of the two companies would also help banking customers effortlessly avail access to identity verification solutions in order to take KYC and AML towards fidelity. The partnership would also make it easier for the clients of Advapay to leverage the integrations that are ready for use. Both the companies Advapay and Sumsub are excited to stay strategically committed.

A technology company providing the Digital Core Banking platform is Advapay that predominantly aims at empowering fintech clients and digital banks. The company looks to catalyze digital transformation in the realm of banking. Advapay’s platform provides all the essential functionalities from a back-to-front system and a set of tools to customizing and bringing in new integrations. With Advapay, the client ecosystems can connect with both cloud-based SaaS or on-premise software. The company also serves the function of business advisory and fintech licensing services.

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