Sumsub offers expertise on how to avoid a conversion-killer with video identification
All-in-one verification provider holds a webinar for fintech companies in Germany to advise on enhancing pass rates and ensuring full compliance with BaFin’s KYC requirements.
BERLIN–(BUSINESS WIRE)–#KYC–Sumsub, a global regtech company that helps businesses stay compliant and fight digital fraud, today announced a free webinar “BaFin-compliant video identification: how to avoid a conversion-killer” which will take place on November 29, 2022 at 11 AM CET. This webinar will be useful for fintech and banking companies working in countries with emerging video verification laws, as well as for businesses looking to work in these countries.
Earlier this year, Sumsub announced its revamped Video Identification solution is compliant with German KYC/AML regulatory requirements set by BaFin. This means fintech, crypto, trading and gaming businesses located in Germany onboard customers safely and securely – either by using the Sumsub platform and interview scripts for video KYC, or by outsourcing the whole KYC process and letting Sumsub’s in-house trained operators conduct the interviews (in English or German).
BaFin, or the Federal Financial Supervisory Authority, is Germany’s financial regulator that requires сompanies to conduct video interviews during remote verification as a part of AML obligations. Germany is just one of several EU countries where video interviews are required. But while this procedure helps companies stay BaFin compliant, it’s not conducive to a satisfying user experience and results in lower conversion and loss of revenue.
The upcoming webinar is aimed at revealing the right technology to eliminate the hassle. Online participants will learn how to stay compliant with BaFin’s regulations while maintaining a smooth onboarding process.
Speakers of the webinar include experts on KYC and compliance with global expertise: Alexandra Lloyd, risk & compliance officer at YouHodler; Julia Bonda, Head of Business Development at Sumsub, and Simon Collins, Head of Videoident at Sumsub. The talk will last approximately 60 minutes and will be moderated by Lucas Newman, Business Development Manager at Sumsub.
Online participation is free of charge. To save your seat, please register at this link: https://sumsub.link/bafin_webinar
Sumsub is an all-in-one verification platform that secures every step of the customer journey. With Sumsub’s customizable KYC, KYB, KYT, and AML solutions, you can orchestrate your verification process, welcome more customers worldwide, speed up onboarding, reduce costs and steer clear of digital fraud.
Sumsub achieves the highest conversion rates in the industry—91.64% in the US, 95.86% in the UK, and 90.98% in Brazil—while verifying users in less than 50 seconds on average.
Sumsub’s methodology follows FATF recommendations, the international standard for AML/CTF rules and local regulatory requirements (FINMA, FCA, CySEC, MAS, BaFin). As the first regulated compliance-as-a-service provider, Sumsub has a team of compliance experts ready to consult on regulatory specifics worldwide.
With over 2,000 clients across the fintech, crypto, transportation, trading and gaming industries, Sumsub partners with the likes of Binance, Mercuryo, Bybit, Huobi, Unlimint, DiDi, Poppy and TransferGo.