FCA licensed Fintech Digital Solutions selects Sumsub as its partner of choice to manage global client onboarding, KYC, KYB, AML, and ATF compliance

Friday, 4 February 2022

As FintechCashier expands across the globe, the FCA licensed digital payments innovator selects Sumsub as its partner of choice to manage global client onboarding, Know Your Customer (KYC), Know Your Business (KYB), Anti-Money Laundering
(AML), and Anti-Terrorist Financing (ATF) compliance.

To protect businesses like FintechCashier and their clients, Sumsub performs various strict verification, including security features check, screenshot and screen recapture checks, detection of photoshop editing on documents, original photographs, stamps, holographic to ensure authenticity, as well as facial biometrics mapping. Their advanced behavioural risk score, employs device fingerprint analysis to track suspicious user configurations and location mismatches.

Paul Renner, Head of Compliance & Family Office at FintechCashier, states,
“FintechCashier is very pleased to announce this partnership as Sumsub is undoubtably the leader in the client authentication and verification industry and they will be integral to managing this part of our compliance process as we expand into the over 200 global territories they cover.”

Sumsub’s Co-founder & Chief Technical Officer, Vyacheslav Zholudev, explains in Sumsub’s 2021 Identity Fraud Study, that, at present, it’s very difficult for a person to create a high-quality deepfake but with the advancement of technology it will soon be possible to make a realistic version on a mobile phone in seconds. “Sumsub is very pleased to partner with FintechCashier to manage compliance at a time when identify fraud is on the increase. Sumsub is dedicated to being vigilant and works well ahead of fraudsters. I also expect that soon many documents will have chips that allow documents to be validated and governments themselves will provide ways to validate these too,” comments Zholudev. 

The credibility and transparency of UK-based Fintech Digital Solutions was further enhanced when they were granted a full license by the Financial Conduct Authority
(FCA) in 2021 as an Electronic Money Dealing (EMD) Agent. They are fully licensed under the Electronic Money Institution (EMI) to issue e-money and provide fully regulated payments services to its clients across the globe.

About Fintech Digital Solutions Ltd.
Fintech Digital Solutions recently launched FintechCashier, a payment gateway and solution provider, which guarantees a seamless, transparent, and fast portal for their clients to receive the transaction related funds of their customers, to manage their cash flow, and to make settlements. FintechCashier supports a wide spectrum of services, ranging from credit card processing, exchange, eCommerce and wire solutions. www.fintechcashier.com