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Sumsub: Releases GPS-based Proof of Address verification | Fintech InShorts: Latest fintech news, analysis by experts

Sumsub: Expands to the US, bringing new services to local customers

Less than 1 min.Read

Sumsub: Releases GPS-based Proof of Address verification

By Laura M

June 16, 2022

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