The solution optimizes the Know Your Customer (KYC) phase, helping to prevent fraud and illegal activities by retrieving documents already verified by the platform, thus reducing the need for repeated uploads.
The Reusable Digital Identity package includes two main features. Sumsub ID allows users to store and reuse their verification documents for new access within the Sumsub ecosystem, which includes more than 4,000 companies.
Meanwhile, Reusable KYC enables corporations to share user verification information among themselves with consent. According to Sumsub data, one in three people undergoing a verification process had already been previously authenticated by the company.
This capability can reduce the average onboarding time by 50%, enhancing the user experience. For companies, adopting these features increases conversion rates for new access by 30%, while ensuring all necessary compliance checks are performed.
Additionally, personal data stored or shared with third parties for verification is fully protected and compliant with the General Data Protection Law (LGPD).
The adoption of technologies for more integrated and secure identification is gaining traction in Brazil, as demonstrated by the widespread issuance of the new National Identity Card (CIN). So far, more than 21.5 million of these documents have been issued, modernizing the identification process by integrating facial biometrics and fingerprints, along with a QR code for instant validation via gov.br.
A study by Serasa Experian also revealed that the CIN has only a 0.08% chance of being used in fraud, a rate nearly 98% lower compared to the old RG and CNH. With the new documentation linked to Sumsub’s database, Brazilian users benefit from enhanced security, reduced fraud, and an improved user experience.
“With a decade of experience in the market, our vision remains clear: to provide digital identity verification for global companies with the same speed and convenience as payments, without compromising compliance and security,” says Vyacheslav Zholudev, CTO and co-founder of Sumsub.
“With Sumsub ID and Reusable KYC, we are redefining digital identity verification, helping companies make their onboarding process more efficient while giving users full control over their documents and data. This is a major milestone in our mission to make identity verification faster, safer, and more reliable for everyone.”
Sumsub’s Reusable Digital Identity package includes two solutions designed for both businesses and users. Sumsub ID is available to any user, offering a faster verification and onboarding process across sectors such as crypto, fintech, banking, e-commerce, traditional finance, security, regtech, and fraud prevention.
Sumsub is a full-cycle verification and continuous monitoring platform that protects the entire user journey.
With customizable solutions for KYC (Know Your Customer), KYB (Know Your Business), Transaction Monitoring, Fraud Prevention, and the Travel Rule, Sumsub enables businesses to orchestrate the verification process, expand global customer reach, meet compliance requirements, reduce costs, and protect their operations.
The company serves over 4,000 clients across sectors such as fintech, cryptocurrency, transportation, trading, edtech, e-commerce, and gaming, including companies like Duolingo, Bitpanda, Wirex, Avis, Bybit, Vodafone, Kaizen Gaming, and TransferGo.
Source: GMB
