Sumsub and NiceHash share the results of their partnership.

Sumsub, a global identity verification and KYC/AML compliance provider, is sharing the results of their partnership with NiceHash, the world’s leading cryptocurrency mining platform with 2.5 million users worldwide.

NiceHash operates in 190 countries, all of which have different crypto regulations. Needless to say, this created significant compliance challenges for the company. To meet this challenge, NiceHash needed an all-in-one solution to handle all the regulatory specifics. Plus, they wanted the ability to customize user verification flows to fit their various product offerings.

After conducting in-depth research on different KYC providers, NiceHash ultimately decided to go with Sumsub. They were hooked on the short processing time and high verification speed of Sumsub’s solution, along with its user-friendly interface and high level of customer support.

NiceHash started working with Sumsub in January 2020. The whole integration process took less than 2 months. Since then, they’ve checked about half a million users.

“Sumsub helped us a lot with their highly sophisticated KYC/AML solutions. We wanted user onboarding to be as straightforward and as clear as possible” – says Nikolina Travner, CCO at NiceHash.

Replacing manual review with Sumsub’s automated solution enhanced user onboarding profoundly. NiceHash has been able to lower security incidents and fraud attempts by as much as 80% with the help of KYC features such as liveness detection and watchlist screening.

NiceHash continues to innovate in the crypto mining space, and has some big product launches coming to their global customer base. In addition, they are going to bring NiceX, their crypto exchange service, to the US market.