Leverate and Sumsub to Reinforce Foreign Exchange Brokers With User-Friendly and Locally Compliant KYC Checks

  • Foreign Exchange , AML and KYC
  • 14.12.2020 03:45 pm

Leverate, an innovative software as a service provider for foreign exchange brokers, is today announcing its collaboration with Sumsub, an identity verification platform that covers KYC/KYB/AML needs. Both companies will work together to provide quick and reliable KYC and chargeback protection checks for Leverate’s SaaS based trading platforms worldwide.

Leverate is a leading Cyprus-based brokerage technology and services provider with over 10 years of experience, over 200 clients, and 65K traders who are using their solution. Spreading across Cyprus, the UK, China, Israel, Bulgaria, and Romania, Leverate provides their international Forex brokers and financial institutions with electronic trading platforms and back-office software, minimizing possible risks and accelerating growth. Their comprehensive solution provides everything, from a ready-to-use trading platform, to CRM and beyond, striving for transparency and a premium user experience. 

While producing software for regulated trading brokerages, Levarate reached out to Sumsub for a solution that would complement their product and remove the need for their clients to search for a KYC/AML provider elsewhere. Partnering up with Leverate, Sumsub was able to provide their clients with quick KYC checks and AML screening for their users, securing access in line with regulatory demands. Sumsub has also supplied Leverate’s clients with fraudulent chargeback protection mechanisms, defending their platforms from fraudulent attacks, which  have significantly increased since the start of the global COVID-19 pandemic.

"We were looking for a solution to go hand in hand with our platform, in addition to one that would remove the need for our clients to worry about identity verification and anti-fraud checks. Sumsub covered this need in full, providing our clients with fully automated, people-friendly onboarding mechanisms, a quick processing speed, and international document coverage. Our clients now don’t have to waste time on regulatory headaches and can focus on persistent growth, while Sumsub covers all of the necessary KYC/AML compliance demands for any region. Not to mention that traders will have a great time onboarding," said Tal Laitner, VP of Innovation at Leverate.

"Compliance is a vital aspect of the trading businesses—nobody wants to pay substantial fines for incomplete checks and risk their platform’s safety. For that, we are happy to supply Leverate’s clients with robust and friendly checks, built in line with regulatory requirements, and those that fulfill their need for a trustworthy ally. Leverate’s clients will be able to quickly onboard more happy traders, while we will be making  sure to double check their intentions," comments Jacob Sever, Co-founder of Sumsub.


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