Plumery has selected Sumsub as its technological partner to bring a new generation of digital onboarding solution to market. Specifically, Plumery has integrated Sumsub’s capabilities into its new-generation ‘Headless’ digital banking engagement platform. It is launching first with Sumsub’s Know Your Customer (KYC) suite.

The combined solution will enable both traditional and challenger banks to create highly customisable onboarding flows using Plumery’s serverless onboarding orchestration and Sumsub’s fully compliant KYC flows. The companies claim this will save clients up to 80% on implementation costs and over 50% of onboarding costs.

Plumery’s ‘Headless’ platform allows banks, fintechs and other financial institutions to build applications on-top of its APIs. The solution does not require to compromise their applications’ user interface (UI) or core banking solution. This ensures highly tailored onboarding journeys for their private and business banking customers.

Sumsub’s pre-integrated KYC and anti-money laundering solutions verify new customers through a number of factors. These include email addresses, tax residency and proof of address.

“We’re super-excited to become a technology partner with Sumsub,” said Ben Goldin, CEO at Plumery. “Their focus on both frictionless and compliant customer experiences, as well as excellent developer experience means solutions can be delivered faster than ever. Digital and mobile onboarding has become an essential part of any digital banking experience in the last five years. Now, together with Sumsub, our joint customers can integrate this capability faster and more cheaply than ever before, to launch new propositions and whole banks in record time.

Plans to add KYB and SME-focused functionality

“Our first release has focused on onboarding natural persons. We plan to add KYB and wider SME-focused functionality together in the coming months. Customers will be able to leverage not just our technologies, but also our expertise in building digital banking platforms, and Sumsub’s expertise in compliance onboarding. The synergy is perfect.”

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Andrew Sever, co-founder and CEO of Sumsub, added: “Using our APIs, Plumery has been able to create a completely seamless end-to-end onboarding journey for its users. Through this partnership, we can now combine their innovation-focused digital experience building, with the highest levels of compliance and fraud protection, provided by our platform.”