Fintech platforms Sumsub and TrueNorth have partnered to assist financial services providers in the US and elsewhere in growing into international markets and digitising their services.
Under the alliance, the fintechs aim to offer banks, fintech platforms, payment companies, and neobanks digital solutions that meet legal requirements, boost productivity, and spur growth.
Sumsub offers configurable know-your-customer (KYC), know-your-business (KYB), know-your-transaction (KYT), and anti-money laundering (AML) solutions to aid businesses in managing the verification process.
TrueNorth is a fintech software developer that offers architectural frameworks for the development of bespoke solutions.
Sumsub co-founder and CEO Andrew Sever said: “We are glad to join forces with TrueNorth in our common mission of bringing digital transformation to the financial industry. Sumsub’s advanced KYC, KYB and transaction monitoring solutions will assist businesses in expanding internationally while complying with regulations.
“TrueNorth, meanwhile, will develop enhanced fintech products and solutions for companies ready for digitalised global growth”,
TrueNorth CEO and co-founder Alex Gonikman said: “We are excited to partner with Sumsub to further strengthen our ecosystem with top-notch verification, anti-money laundering and transaction monitoring tools. This partnership allows us to continue providing our clients in financial services with secure, reliable and sustainable solutions at scale.”
Last month, Sumsub collaborated with Geneva-based fintech Fluid Finance to streamline customer onboarding and provide fraud protection.
Blockchain-powered Fluid Finance offers remittance transfers, crypto, traditional banking services, and several savings and investment offerings.