Since I value your time, if you don’t want to read the entire article and technical discussions aren’t important to you, I’ll summarize it briefly:
As someone who has been in contact with many Forex brokers and traders, Sumsub has not had any major issues up to the date of this post. The main problem most people face is the difficulty of setting up the infrastructure to connect brokers to Sumsub. I should also mention that I’ve even seen it support some of the most unknown countries. Also i Mentioned a Critical Problem about this type of companies at the end.

Here’s a breakdown of how Sumsub aligns with the key parameters I mentioned earlier for choosing a verification platform:

1. Compliance & Regulatory Requirements

• Global Coverage: Sumsub supports ID verification across 220+ countries and regions, making it suitable for businesses operating globally.
• KYC/AML Compliance: Sumsub adheres to global KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations, including FATF (Financial Action Task Force) guidelines, ensuring compliance with various regulatory environments.
• GDPR/Privacy Compliance: Sumsub is fully compliant with the GDPR, ensuring that user data is handled in accordance with European data protection standards.
• Industry-Specific Compliance: Sumsub serves multiple industries, including finance, gaming, crypto, and insurance, so it tailors its verification processes to industry-specific regulatory requirements.

2. Security & Data Protection

• Data Encryption: Sumsub uses encryption to protect sensitive data both in transit and at rest, ensuring secure handling of user information.
• Fraud Detection & Risk Management: The platform provides AI-powered fraud detection with liveness checks and document forensics, allowing detection of fake or altered documents, biometric spoofing, and other fraudulent activities.
• Data Retention & Deletion Policies: Sumsub allows businesses to comply with data retention and deletion rules based on the specific legal and regulatory framework of their region.

3. Verification Methods & Accuracy

• ID Document Verification: Sumsub supports a wide range of government-issued ID documents, including passports, national ID cards, driver’s licenses, and residence permits, across different jurisdictions.
• Facial Recognition & Liveness Detection: The platform offers advanced biometric solutions, including facial recognition and liveness checks, to confirm that users are present during the verification process and not using manipulated images.
• Additional Verification Options: Sumsub can perform background checks, screen users against sanction lists, and verify additional user data like addresses, phone numbers, and emails.
• Accuracy and Success Rate: Sumsub is known for its high accuracy in verifying identities, with flexible verification flows and fallback manual review for edge cases.

4. Integration & API Support

• Ease of Integration: Sumsub offers easy-to-use APIs and SDKs for seamless integration into web and mobile applications. Their API is well-documented, enabling developers to quickly embed verification processes.
• Customization Options: The platform allows businesses to customize the user verification flow, including branding and additional checks.
• Developer Support: Sumsub provides comprehensive API documentation and dedicated developer support to assist with integration.

5. User Experience

• Onboarding Speed: Sumsub’s verification process is fast, typically taking just a few minutes for users to complete identity verification, providing a smooth onboarding experience.
• Mobile & Web Compatibility: The platform is compatible with both mobile and web applications, making it easy for users to verify their identity regardless of device.
• Localization: Sumsub supports multiple languages and can be localized for different regions, making it adaptable to a diverse user base.

6. Scalability & Performance

• Handling High Volume: Sumsub is designed to handle a large volume of verifications, making it scalable for businesses experiencing rapid growth or high onboarding demands.
• Performance Metrics: The platform offers a fast average verification time and provides real-time feedback, ensuring that verifications don’t slow down the user flow.

7. Pricing Model

• Cost per Verification: Sumsub offers flexible pricing models, including pay-per-verification and subscription options, allowing businesses to choose what best fits their needs.
• Hidden Fees: Pricing is transparent, and additional costs may include document re-verification or manual review, depending on your service level.
• Trial Period or Free Tier: Sumsub offers a free trial, allowing businesses to test the service before committing to a plan.

8. Support & Customer Service

• Availability: Sumsub offers 24/7 customer support, ensuring that any issues or concerns can be resolved promptly, regardless of time zones.
• Quality of Service: The platform provides dedicated account managers for large clients and specialized support teams to handle technical issues.
• Response Time: Sumsub is known for its prompt customer service, particularly in resolving integration or user verification issues.

9. Reporting & Analytics

• Real-time Monitoring: Sumsub provides real-time reporting and dashboards, enabling businesses to track verification progress, completion rates, and failure causes.
• Audit Trails: The platform offers audit logs, allowing businesses to keep track of user verification details for compliance and internal analysis.

10. Reputation & Reviews

• Market Reputation: Sumsub is highly regarded in the identity verification market and has a strong reputation for serving companies in fintech, crypto, and other regulated industries.
• Track Record: The platform is trusted by well-known companies for its uptime reliability and robust fraud detection features.

Summary

Sumsub is a strong candidate for businesses looking for a global, compliant, and scalable identity verification solution. Its ease of integration, fast verification process, and broad industry compliance make it suitable for industries like fintech, crypto, and e-commerce. However, comparing it against competitors like Jumio, Onfido, or Veriff, based on your specific needs and budget, can help ensure you’re making the best choice.

The Most Important Problem is to Remember these companies can make mistake about professional Forgers of documents because they are doing this in a automation way.

Remember Make Your Own Choice and Take The Risk , Global FXS is here to save your time not to give you advice