The essence of this partnership lies in its potential to redefine digital banking landscapes. By integrating Sumsub’s robust KYC suite into Plumery’s novel ‘Headless’ digital banking engagement platform, the alliance is poised to offer highly customizable and efficient onboarding processes to both traditional and challenger banks.
Plumery distinguishes itself in the FinTech sector through its innovative ‘Headless’ platform, which empowers financial entities to construct versatile applications atop its seamless APIs. This platform meticulously preserves the integrity of user interfaces and core banking functionalities, thereby ensuring bespoke onboarding experiences for clients.
Conversely, Sumsub stands out with its comprehensive KYC and anti-money laundering solutions, meticulously verifying new customers through various checks while ensuring compliance and security.
The synergy between Plumery and Sumsub is set to revolutionize the digital banking experience. With a focus on creating frictionless yet compliant customer journeys, the partnership is geared to reduce implementation costs by up to 80%, onboarding costs by over 50% per customer, and significantly accelerate the launch of new banking propositions.
The strategic alliance is not just about technological integration; it’s a fusion of expertise and innovation. While the initial rollout focuses on onboarding natural persons, plans are afoot to expand the functionality to include KYB and broader SME-oriented features, leveraging the combined technological prowess and sectoral expertise of both Plumery and Sumsub.
Plumery CEO Ben Goldin said, “We’re super-excited to become a technology partner with Sumsub. Their focus on both frictionless and compliant customer experiences, as well as excellent developer experience means solutions can be delivered faster than ever. Digital and mobile onboarding has become an essential part of any digital banking experience in the last 5 years. Now, together with Sumsub, our joint customers can integrate this capability faster and more cheaply than ever before, to launch new propositions and whole banks in record time.”
Sumsub co-founder and CEO Andrew Sever adds, “We are pleased to announce the technological partnership with Plumery. Using our APIs, Plumery has been able to create a completely seamless end-to-end onboarding journey for its users. Through this partnership, we can now combine their innovation-focussed digital experience building, with the highest levels of compliance and fraud protection, provided by our platform.”
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