Sumsub offers expertise on how to avoid a conversion killer with video identification

BERLIN–(BUSINESS WIRE)–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 a.m. CET. This webinar is useful for fintech and banking companies operating in countries with new video verification laws, as well as for companies looking to operate in those countries.

Earlier this year, Sumsub announced that its revamped video identification solution meets the German KYC/AML regulations set by BaFin. This means Germany-based fintech, crypto, trading and gaming companies onboard clients safely and securely – either by using the Sumsub platform and interview scripts for video KYC, or by outsourcing the entire KYC process and Interviews conducted by Sumsub’s internally trained staff (in English or German).

BaFin, or Bundesanstalt für Finanzdienstleistungsaufsicht, is the German financial regulator that requires companies to conduct video interviews during remote screening as part of AML obligations. Germany is just one of several EU countries where video interviews are mandatory. While this process helps companies remain BaFin compliant, it is not conducive to a satisfying user experience and results in lower conversion and lost revenue.

The upcoming webinar aims to show the right technology to take the hassle out. Online participants will learn how to comply with BaFin regulations while maintaining a smooth onboarding process.

Webinar speakers will include KYC and compliance experts with global expertise: Alexandra LloydRisk & Compliance Officer at YouHodler; Julia BondaHead of Business Development at Sumsub, and Simon Collin, head of video identification at Sumsub. The lecture lasts about 60 minutes and is moderated by Luke NeumanBusiness Development Manager at Sumsub.

Online participation is free. To secure your place, please register using this link: https://sumsub.link/bafin_webinar

Around sumsub

Sumsub is an all-in-one verification platform that secures every step of the customer journey. Orchestrate your verification process, welcome more customers worldwide, speed up onboarding, reduce costs and avoid digital fraud with Sumsub’s customizable KYC, KYB, KYT and AML solutions.

Sumsub achieves the highest conversion rates in the industry – 91.64% in the US, 95.86% in the UK and 90.98% in Brazil – and verifies users in less than 50 seconds on average.

Sumsub’s methodology follows the recommendations of the FATF, 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 advise on regulatory specifics worldwide.

With over 2,000 clients from the fintech, crypto, transport, trading and gaming industries, Sumsub works with companies such as Binance, Mercuryo, Bybit, Huobi, Unlimitt, DiDi, Poppy and TransferGo.

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