Identity verification and compliance solutions services provider, Sumsub, has announced a technology partnership with FinTech Association of Nigeria (FintechNGR), the industry group of the local fintech community.
Richy Emah, Sumsub Business Development Manager says in a statement made available to Technology Times that the technology company’s partnership with FintechNGR aims to “provide advanced identity verification and compliance solutions tailored to the needs of Nigerian FinTech companies.”
“Sumsub’s industry-leading FinTech offerings are ideally suited for the Nigerian marketplace,” Dr Babatunde Obrimah, FintechNGR COO says adding that “Sumsubs cutting-edge innovation understanding of the African sector is unparalleled.”
FintechNGR: Sumsub identity verification technology suited for Nigerian marketplace
By combining forces, both organisations say that they “are poised to revolutionise the way FinTech companies approach compliance and innovation, ultimately driving greater financial inclusion and economic prosperity across Nigeria.”
Under the partnership, Sumsub will work closely with FintechNGR to provide advanced identity verification and compliance solutions tailored to the needs of Nigerian FinTech companies.
By adopting Sumsub’s technology, the company says that Fintech startups and established players alike will be equipped with tools to streamline customer onboarding processes while ensuring adherence to regulatory requirements.
“With the rapid evolution of regulatory landscapes globally,” the technology company says, “compliance has become a top priority for Fintech companies. Sumsub’s expertise in compliance automation and Know Your Customer (KYC) procedures will empower FintechNGR members to navigate complex regulatory frameworks with ease, fostering trust and confidence among customers and regulators alike.”
The Sumsub-FintechNGR partnership, they say, will serve as a catalyst for innovation within the Nigerian fintech ecosystem. “By providing access to state-of-the-art identity verification technologies and best practices, the collaboration aims to accelerate the development and deployment of innovative financial solutions that address the evolving needs of Nigerian consumers and businesses.”
In addition to offering cutting-edge solutions, Sumsub and FintechNGR plan to drive community engagement by collaborating on various initiatives that foster knowledge sharing and collaboration within the Nigerian fintech community. “Through workshops, webinars, and networking events, members will have the opportunity to exchange insights, learn from industry experts, and forge strategic partnerships to drive collective growth and impact.”
Sumsub claims it has over 2,000 clients across the fintech, crypto, transportation, trading, e-commerce and gaming industries including Binance, Mercuryo, Bybit, Huobi, Unlimit, DiDi, Poppy and TransferGo.
Editor’s Note: This article has been updated to reflect the correction of ‘Sumsub’ in the first paragraph.
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