Case Study: Bybit fights fraud and speeds up user onboarding with Sumsub

How Bybit Fights Fraud and Quickly Onboards Users With Sumsub

Bybit, a global cryptocurrency exchange, needed an automated KYC solution to prevent fraud, ensure regulatory compliance, and streamline its user onboarding process. The challenge was to reduce manual resource usage while effectively detecting forged documents and duplicate accounts. They chose to partner with the vendor Sumsub after A-B testing showed its platform met key criteria like verification speed and user-friendliness.

Sumsub implemented a tiered verification system for Bybit, combining ID and biometric liveness checks with proof of address validation. This solution cut the average onboarding time to just one minute and achieved a pass rate of 78% for first-level checks. Most significantly, Sumsub now detects up to 99% of forgery attempts. The results eliminated previous complaints about delayed processing and provided a scalable framework for Bybit's future growth.

Bybit