Sumsub issues KYC guide for trading industry –

Sumsub, a technology company that helps businesses stay compliant and fight digital fraud, published its: “KYC guidance for the trading industry: balancing compliance and pass rates“.

The guide offers actionable solutions to three key challenges facing trading companies today: 1) compliance with KYC/AML regulations; 2) build on the onboarding process to quickly verify users and reduce churn; 3) maintaining a high level of fraud protection.

Compliance with local KYC/AML requirements is critical for trading companies as they are highly vulnerable to money laundering and terrorist financing, fraud and regulatory fines. Based on the expertise of Sumsub’s certified legal team, the guide dives into the regulatory specifications for trading platforms across different regions and countries, describing two different approaches to compliance for licensed and unlicensed brokers.

Another major challenge for trading platforms is building efficient KYC flows. If a broker is obliged to perform multi-user checks, it is important to do them as efficiently as possible to keep pass rates high. Sumsub’s guide shares best practices for building verification flows in trading with a close eye on implementation level-based verification.

Sumsub’s experience is based on years of close work with trading firms. The guide also shares real-life cases with Sumsub clients, including Exness, INGOT Brokers and Xena Exchange, which achieved 97% hit rates and a median boarding time of two minutes thanks to Sumsub’s level-based verification and strong legal support.

Apart from legal expertise the guide provides practical steps for building user verification levels for effective onboarding. To learn more about finding the perfect balance between compliance and pass rates in the trade sector, follow this link:

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Sumsub issues KYC guide for trading industry –

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