The repetition of identity verification processes across different services, such as financial or transportation apps, is one of the factors that lead users to lose interest and even give up on completing an access. To address this issue, the Sumsub, a global end-to-end verification platform, has announced the launch of its Reusable Digital Identity package developed for businesses and users. The solution optimizes the Know Your Customer (KYC) phase, which helps in preventing fraud and illegal activities, by retrieving documents already verified by the platform, thus reducing the repetition of the same uploads.
The Reusable Digital Identity package features two main components. The Sumsub ID allows users to store and reuse their verification documents for new accesses within the Sumsub ecosystem, which comprises over 4,000 companies. On the other hand, the Reusable KYC enables corporations to share user verification information among each other with consent. According to Sumsub data, one in every three individuals who undergo a verification process had previously been authenticated by the company.
This convenience can reduce the average onboarding time by 50%, enhancing the user experience. For companies, embracing the features increases conversion rates by 30% in new accesses, while conducting all necessary compliance checks. Furthermore, personal data stored or shared with third parties for verification is fully protected, compliant with LGPD regulations.
The adoption of technologies for more integrated and secure identification is gaining momentum in Brazil, as evidenced by the extensive issuance of the new National Identity Card (CIN). So far, more than 21.5 million of these documents have been issued, modernizing the identification process by integrating facial biometrics and fingerprints, as well as a QR Code for instant validation via gov.br.
A study by Serasa Experian also revealed that the CIN has a usage percentage of only 0.08% in scams, a rate nearly 98% lower compared to the old ID and driver’s license. With the new documentation linked to the Sumsub platform, Brazilian users ensure even more security, reduced fraud, and improved user experience.
“With a decade of experience in the market, our vision remains clear: to offer digital identity verifications for global companies with the same speed and convenience as payments, without compromising compliance and security,” says Vyacheslav Zholudev, CTO and co-founder of Sumsub. “With Sumsub ID and Reusable KYC, we are redefining digital identity verification, helping companies make their onboarding more efficient while giving users full control over their documents and data. This is a significant milestone in our mission to make identity verification faster, safer, and more reliable for everyone.”
