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November 9, 2022

Transferra taps Sumsub to support customer onboarding

UK-based payments firm Transferra has forged an alliance with verification platform Sumsub to enable secure onboarding for its customers.

This partnership will help Transferra provide fraud protection and improved KYC verification capabilities to its clients.

The company currently offers several financial services for businesses, such as UK international bank account numbers (UK IBANs) and sort codes as well as various EUR and GBP payment options in addition to an online platform.

Transferra head of products Alexey Reshko said: “We partnered with Sumsub as they are the only company providing a full KYB solution fully integrated with our company’s AML/KYC policies.

“Sumsub also enables us to build complete onboarding of corporate entities, which includes questionnaires, company registry checks, and establishing corporate structure.

“Plus, we can perform AML checks on each individual in the process including all sanctions lists and adverse media. Thanks to Sumsub’s solution, we have up-to-date data about our clients and quick notifications about changes.”

An all-in-one verification platform, Sumsub has a customer base of more than 2,000 across various sectors including crypto, transportation, trading, gaming, and fintech.

Its client list includes Binance, Mercuryo, TransferGo, Huobi, among others.

Sumsub co-founder and chief compliance officer Jacob Sever said: “Transferra aims to make business payments secure and simple while considering every client’s individual requirements.

“We believe this is another step toward an inclusive financial future for people, where payment companies are trustworthy partners in business endeavours.”

Last month, Sumsub rolled out Workflow Builder, a feature that allows businesses to build user verification workflows based on individual requirements and risk profiles.

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