As a part of the partnership, Seracle aims to achieve verification processes for over a million businesses and individuals combined over the next one year.
“When it comes to Sumsub, one of the things that we really like about it is that it is smooth. The second is that it has a custom workflow that no other provider offers. And the third one is that we do both KYB and KYC, as well as the risk classification to support AML teams. It is easy to get an idea of what to flag and the risk level. Also, the multi-language support and other great features make Sumsub a great partner for us,” said Shrikant Bhalerao, CEO, Seracle Infrastructures.
Seracle will integrate Sumsub’s KYC system, which uses advanced AI technology to detect and prevent potential cybercrime in over 136 countries, it said in a statement.
The partnership will enable Seracle to extend verification solutions to the projects hosted on its infrastructure and take care of their verification and compliance needs.
“Providing KYC for such an innovative and fast-growing web3 company is a crucial step for us. Seracle offers top-notch service in the blockchain industry and we are honored to be part of its infrastructure. We are committed to ensure a seamless and compliant user onboarding process for Seracle’s clients and together, we’ll drive the development of Web 3.0 solutions,” said Denis Urazbakhtin, Sumsub’s Head of Partnerships.
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Sumsub will add an extra layer of protection for Seracle at a time when losses arising from cryptocurrency hacks have jumped nearly 60% to US$1.9 billion this year.
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