Case Study: Bake boosts approval rates and detects more fraudsters with Sumsub

Bake Boosts Approval Rate by 80% and Detects 20x More Fraudsters

Bake, a Singapore-based crypto-finance platform with around 1 million users, needed to scale its compliance operations as user checks surged from 1,000 to 3,000 per day. To meet KYC and AML requirements while fighting fake proof-of-address documents and other fraud, Bake looked for a provider that could automate ID, selfie/liveness, PoA, sanctions screening, and blocklisting.

Bake implemented Sumsub’s Mobile and Web SDKs for automated ID verification, liveness, face match, proof of address checks, and AML screening. With Sumsub, Bake increased approval rates by 80%, cut average verification time to 2 minutes 31 seconds, and boosted fraud detection to 20x more blocklisted cases, all within the first week of use.

Bake