Today Sumsub, a global full-cycle verification platform, is launching its Reusable Digital Identity product suite.
It aims to effectively mitigate repetitive verification and redundant Know Your Customer (KYC) checks that negatively impact user experience and conversion rates for businesses. The new offerings are set to reduce applicant onboarding times by 50% and boost conversion rates by 30%, on average.
KYC is essential for security, fraud prevention and compliance. However, when users need to verify their identity repeatedly across multiple services – especially when seeking critical access to financial or transportation apps – it creates friction and frustration. This repetitive process often leads to high drop-off rates and less user interest, impacting both user experience and business conversion rates. At the same time, all of the checks required for ensuring a compliant verification must still take place.
Sumsub…
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