Payment solutions provider PayPugs has announced that it has signed a partnership with identity verification platform company Sumsub, to create a better onboarding experience for its users.

As a Banking-as-a-Service platform, PayPugs allows individuals and companies to obtain trustworthy banking and payment solutions worldwide. Sumsub, a tech company that helps businesses easily verify clients and steer clear of fraud, is a trusted compliance-as-a-service provider with years of legal experience.

The need to keep customers safe and compliant in today’s digital world has never been more pressing, and this partnership aims to help PayPugs meet all the necessary regulatory requirements without consequences for the customer experience.

With Sumsub, PayPugs will be able to streamline verification for individuals and companies on an international level. From the moment this partnership began, PayPugs has been working closely with Sumsub to integrate their solution and make verification more effective and easy for customers. As a result, new and existing PayPugs clients can now expect faster and better onboarding procedures.

Alexander Zelinsky, Chairman of the Supervisory Board at PayPugs said:

“By integrating Sumsub, we’ll be able to reduce overall verification expenses while also improving our customer interactions. Ongoing compliance across multiple jurisdictions is vital for security. The time it takes to complete the onboarding process will be reduced, while security will be improved. This is a major step forward since it allows for more open and transparent contact with clients. Our compliance officers will be able to better organize their time with the Sumsub solution, discussing significant topics and reaching new heights in terms of corporate development.”

Jacob Sever, Co-Founder of Sumsub added:

“Partnering with PayPugs reaffirms that we’re working towards a common goal—to support transparent, trustworthy and personalised financial services around the globe and enabling people to do business in an atmosphere of earned trust.”

Founded in 2015, Sumsub is a leading identity verification platform providing an all-in-one technical and legal toolkit to cover KYC/AML needs. Sumsub helps businesses convert more customers, speed up verification, reduce costs, and fight digital fraud. Relying on machine learning and artificial intelligence, its solution works globally, with support for 6,500 document types from over 220 countries and territories.

PayPugs provides financial services through a partnership with multiple licensed entities equally committed to meeting the highest standards of verification and compliance. Different entities work in different regions for risk reduction and faster access to payment schemes. Operating internationally and providing clients with a one-stop-shop for all.