By Andrei Skvarsky.
Australian multi-asset financial brokerage Ingot Brokers has drastically speeded up its client identity verification procedure and made it more accurate via an automated solution acquired from London-headquartered identity verifier Sumsub.
The solution, obtained by Ingot from Sumsub under a partnership agreement, cuts customer onboarding time “from 3 days to 3 minutes”, the two companies said in a joint statement.
The solution precludes mistakes possible in manual verifications and supports more than 6,500 document types from over 220 countries and territories. It easily detects fake documents and is an effective anti-money laundering device, according to the statement.
Ingot trades in financial instruments in eight asset classes, including stocks, indices, exchange-traded funds and cryptocurrencies.
Sumsub offers a range of verification services. It has offices in Berlin, St Petersburg, Nicosia and Hong Kong besides its London headquarters.
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