Case Study: Paysend Achieves 95% Verification Pass Rate with Sumsub

Paysend Streamlines Onboarding and Achieves 95% Pass Rate with Sumsub

Paysend, a global payment platform, faced limitations with its previous automated verification provider, including poor multilingual document support, weak fraud prevention, and an inability to keep up with changing regulations. To support its global operations, Paysend needed a more flexible solution and partnered with Sumsub for its identity verification and KYC services.

By implementing Sumsub's fully automated verification solution, Paysend streamlined its onboarding process. This integration resulted in a 95% pass rate, a 10% increase in approval rates, a 20% reduction in fraud cases, and a median verification time of under 10 seconds. Sumsub's platform also provided cost efficiencies and greater autonomy for Paysend's teams.

Paysend