Case Study: iFAST Global Bank Streamlines Onboarding and Cuts Fraud Risk with Sumsub

iFAST Global Bank Streamlines Onboarding and Combats Fraud with Sumsub

iFAST Global Bank, a UK-regulated bank serving personal and business customers worldwide, needed a faster, more scalable way to onboard international clients while staying compliant. Before working with Sumsub, the bank relied on manual reviews, which were slow, inconsistent, and hard to scale across multiple jurisdictions and document types.

Sumsub implemented a verification stack including ID Verification, Proof of Address, Liveness, Face Authentification, and Fraud Prevention tools such as Fraud Network Detection and Email and Phone Risk Scoring. As a result, iFAST Global Bank improved its ID verification pass rate to 97%, achieved a 73.5% final pass rate across all markets, and reduced verification time to under a minute while strengthening fraud detection and compliance.

iFAST Global Bank