Crypto exchange EXMO integrates Sumsub for user onboarding and KYC

To achieve smooth onboarding while seamlessly fighting against fast-growing identity fraud, Exmo will join forces with Sumsub — providers of one gate to all onboarding and compliance challenges and legal expertise.

EXMO, a popular сryptocurrency exchange, announced today a partnership with Sumsub, experts in identity verification and compliance, to enhance digital identity verification and customer onboarding for their clients.

Sumsub’s AI-based solution automates identity verification and anti-fraud, providing compliance to relevant regulations and AML screening. New verification procedures enable a hassle-free online experience by asking users to submit a couple of pictures, reducing the review time to a few minutes.

The Sumsub solution comes with a dashboard, an all-in-one CRM system for compliance officers to manage, monitor and make the final decisions for each applicant. The dashboard will enable Exmo to generate automatic reports for their financial authorities, applicable laws and regulations.

“Integrating Sumsub will optimize the overall verification costs and improve our relationships with clients. The onboarding process time will be decreased to a couple of minutes while the security will become more robust. With Sumsub solution our compliance officers will manage their time effectively, brainstorming over important issues that conquer new heights in terms of company development. Not to forget about automatic reporting that will save us the nerves of worrying to miss out on regulatory demands.”
Sergey Zhdanov, CEO at EXMO

To further optimize the user-flow, Exmo will integrate the Telegram Passport with the identity verification support from Sumsub. The idea is that with the Telegram Passport you can register in any service that requests your ID data for verification with only one touch of the screen. It allows to save passport data and other documents to Telegram while the service itself will not have access to the data — they will be encrypted on the user’s device.

“We are thrilled to announce our partnership with EXMO. Sumsub swift, engaging identity verification and legal expertise perfectly corresponds with the EXMO exchange platform needs in absolute security and lightning-fast onboarding that drives conversion rates up, fostering the clients’ loyalty.”
– Jacob Sever, Co-founder at Sumsub

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