Sumsub: Releases GPS-based Proof of Address verification
- Sumsub is an all-in-one suite for identity verification, fraud prevention, and KYC/AML compliance
- Recently added GPS-based verification to its Proof of Address solution
- This new feature is primarily aimed at the fintech market, where companies are often obliged to verify user residence
- By opting for GPS-based technology, rather than combing through physical documents
- Traditionally, PoA is confirmed by submitting documents such as bank statements, utility bills, voter registration
- Using geolocation for PoA verification dramatically increases conversion rates since this step can be passed in just a few clicks
