Thu Sep 12 00:36:00 UTC 2024: ## Sumsub’s Non-Doc Verification Solution Expands to 10 New Markets

**Amsterdam, Netherlands** – Sumsub, a leading provider of identity verification solutions, is expanding the reach of its innovative Non-Doc Verification solution to ten new markets, including Australia, Canada, Hong Kong, and the UAE. This move comes after successful implementation and regulatory compliance validation in 18 countries, with the solution demonstrating its effectiveness as a Know Your Customer (KYC) method.

Non-Doc verification allows for seamless customer onboarding without requiring ID submission. Instead, it relies on securely cross-referencing essential personal information, such as identification numbers, with trusted government databases. This approach offers numerous benefits:

* **Faster onboarding:** Verification times are reduced from 30 seconds to just 4.5 seconds.
* **Increased customer pass rates:** Companies experience a 35% growth in pass rates, with some seeing a twofold increase.
* **Enhanced business growth:** The solution enables expansion into emerging markets with over 95% population coverage.
* **Improved efficiency:** Automated user data extraction and real-time updates streamline case management, reducing processing time by 53%.

FINTRAIL, a global consultancy specializing in financial crime risk management and regulatory compliance, has rigorously tested Sumsub’s Non-Doc solution. They assessed regulatory compliance across various jurisdictions and technical efficiency, ensuring alignment with local requirements.

The solution has achieved top scores in its implemented regions, demonstrating its adherence to AML/CTF legislation, cryptocurrency and trading regulations, and other industry standards.

This expansion signifies a shift towards more efficient and user-friendly identity verification methods. Sumsub’s Non-Doc solution promises to revolutionize customer onboarding by providing a faster, more secure, and compliant alternative to traditional document-based verification.

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