Sumsub (short for Sum & Substance) is a global identity verification platform used by financial institutions and crypto platforms to perform secure KYC (Know Your Customer) and AML (Anti-Money Laundering) checks.
At HODL OTC, Sumsub helps verify client identities quickly while ensuring compliance with financial regulations such as the Financial Intelligence Centre Act and oversight requirements from the Financial Sector Conduct Authority.
How the Verification Process Works
1. Upload Your Identification
You will be asked to upload a valid government-issued ID such as a passport, national ID card, or driver’s license.2. Complete a Liveness Check
A short facial recognition check is performed to confirm that the person submitting the ID is physically present and matches the document.3. Verify Your Phone Number
You will receive a One-Time Password (OTP) via SMS to confirm that your phone number belongs to you.4. Automated Security Checks
Sumsub runs automated checks including identity verification, fraud prevention screening, and sanctions monitoring to ensure regulatory compliance.Faster Onboarding for Returning Users
If you have previously completed verification through Sumsub on another platform that uses the same system, your ID information may already be securely stored.
This means you may not need to resubmit your identification documents, making the onboarding process significantly faster and more efficient.
Why We Use Sumsub
Secure and encrypted identity verification
Faster onboarding for clients
Compliance with global AML/KYC standards
Protection against fraud and identity theft