Is the practice of verifying users without official documentation considered a compliant approach for onboarding process?
Sumsub, a leading platform for regulatory compliance solutions, has announced that its Non-Doc Verification solution is compliant in nine countries: Argentina, Bangladesh, Brazil, Ghana, India, Indonesia, the Netherlands, Nigeria, and the UK. This solution allows for near-instant identity verification using ID numbers or official bank records, providing compliance while enabling access for approximately 2 billion people worldwide.
The Non-Doc Verification solution is a user onboarding solution designed to ensure full regulatory compliance on a global level. It is particularly useful in regions where traditional document-based verification methods may be less accessible or practical. Sumsub provides guidance on the legitimacy of Non-Doc Verification in various countries on their Legal Substantiation and Limitations page.
In addition to these nine countries, Sumsub supports secure onboarding from over 220 countries and territories, although the availability of Non-Doc Verification may vary by jurisdiction based on local regulatory requirements and where it is allowed. For instance, in the EU and many countries, Non-Doc Verification is integrated into workflows with compliance tailored per country-specific rules.
Achieving full regulatory compliance in unlisted jurisdictions can be achieved by integrating Non-Doc Verification with other services on Sumsub's all-in-one verification platform, such as Transaction Monitoring and Document Verification.
To delve deeper into the compliance of Sumsub's Non-Doc solution, the Head of Data Intelligence at Sumsub, Vainius Fedotovas, will discuss the topic in the upcoming Q&A series. The Q&A series, launched bi-weekly by Sumsub, features experts from legal, tech, and other fields and offers an opportunity for the public to submit questions on Instagram and LinkedIn.
Sumsub's Non-Doc Compliance Guide is also available to understand where non-documentary verification serves as a compliant user onboarding method and how it works. The list of compliant countries is updated regularly following global legal investigations.
By offering tailor-made solutions to ensure 100% AML compliance and security, even in high-risk cases, Sumsub continues to push the boundaries of digital identity verification, making it easier for businesses to onboard customers while maintaining strict adherence to regulatory requirements.
[1] Sumsub. (2021). Non-Doc Compliance Guide. Retrieved from https://sumsub.com/resources/non-doc-compliance-guide
[2] Sumsub. (2021). Legal Substantiation and Limitations. Retrieved from https://sumsub.com/resources/legal-substantiation-limitations
- As Sumsub continues to expand its services, the all-in-one verification platform will integrated technology to support business operations in numerous countries, including those beyond the nine currently compliant with Non-Doc Verification, ensuring regulatory compliance in unlisted jurisdictions.
- With the Non-Doc Verification solution, Sumsub boosts its capacity to assist businesses in regions where traditional verification methods may be impractical, utilizing technology to verify identities in a near-instant manner, while maintaining adherence to financial regulations in the business sector.
