Polymath is pleased to announce a collaboration with Sumsub, a global identity verification and compliance solutions provider. This partnership integrates Sumsub's robust verification services directly into the Polymath platform, creating a seamless, in-platform compliance solution tailored to the security token market.
Enhanced Compliance for Security Token Issuance
The partnership between Polymath and Sumsub represents a significant advancement in the security token industry. By integrating Sumsub's comprehensive compliance tools, which support Know Your Customer (KYC), Know Your Business (KYB), and Anti-Money Laundering (AML) processes, Polymath can now offer an all-in-one platform that simplifies the process of verifying investor and business identities, performing due diligence, and ensuring regulatory compliance. This integration is designed to streamline the security token issuance process, providing issuers and investors with a more efficient and secure experience.
Global Reach and Streamlined KYC/AML Processes
Sumsub’s technology supports compliance in over 220 countries and territories, providing automated KYC, KYB, and AML checks that are critical components of the compliance framework for security tokens. By embedding these capabilities into its platform, Polymath enables issuers to expedite smooth onboarding processes for both investors and businesses while maintaining the highest standards of regulatory compliance. This integration reduces the need for multiple third-party services, saving time and resources for all parties involved.
"We are excited to partner with Sumsub to enhance our platform's compliance capabilities," said Tony Lauriola, Head of Product at Polymath. "This integration allows us to offer our clients a more streamlined and efficient way to manage compliance, ultimately making it easier for issuers to launch and manage security tokens."
“We are thrilled to start our collaboration with Polymath, a comprehensive platform for the creation, issuance, and management of security tokens,” commented Jacob Sever, co-founder and Chief Innovation Officer at Sumsub. “Sumsub shares Polymath’s mission of making investment in tokenized securities accessible and inclusive to all types of investors, and we’re happy to support Polymath in building innovative and compliant security token technology powered by our KYC, KYB and AML compliance solutions”.
About Polymath
Polymath simplifies the complex challenges of creating and managing security tokens. With a focus on regulatory compliance, Polymath's technology provides a comprehensive platform for issuers, enabling the creation, issuance, and management of security tokens in a secure and compliant manner. For more information, visit www.polymath.network.
About Sumsub
Sumsub is a full-cycle verification platform that secures the whole user journey. With Sumsub’s customizable KYC, KYB, Transaction Monitoring and Fraud Prevention solutions, you can orchestrate your verification process, welcome more customers worldwide, meet compliance requirements, reduce costs, and protect your business.
Sumsub has over 2,500 clients across the fintech, crypto, transportation, trading, e-commerce and gaming industries including Bitpanda, Wirex, Avis, Bybit, Huobi, Kaizen Gaming, and TransferGo. For more information, visit https://sumsub.com.
