As part of this partnership, Seracle aims to complete verification processes for more than one million businesses and individuals combined in the next year.
“As for Sumsub, one of the things we really like is that it’s smooth. The second is that it has a custom workflow that no other provider offers. And the third is that we do both KYB and KYC, as well as risk classification to support AML teams, it’s easy to get an idea of what to report and the level of risk. multilingual support and other great features make Sumsub a great partner for us,” said Shrikant Bhalerao, CEO of Seracle Infrastructures.
Seracle will integrate Sumsub’s KYC system, which uses advanced artificial intelligence technology to detect and prevent potential cybercrime in more than 136 countries, it said in a statement.
The partnership will allow Seracle to extend verification solutions to projects hosted on its infrastructure and support their verification and compliance needs.
“Providing KYC for such an innovative and rapidly growing web3 company is a critical step for us. Seracle provides top-notch service in the block chain industry and we are honored to be part of its infrastructure. We are committed to ensuring a seamless and compliant user onboarding process for Seracle customers and together we will drive the development of Web 3.0 solutions,” said Denis Urazbakhtin, Head of Partnerships at Sumsub.
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Sumsub will add an extra layer of protection for Seracle at a time when losses from cryptocurrency hacks jumped nearly 60% to $1.9 billion this year.