Plumery partners with Sumsub to bring digital onboarding to 'Headless' digital banking platform

Plumery has chosen Sumsub as its technological partner to bring a new generation of digital onboarding solutions to market

LONDON and AMSTERDAM, Jan. 31, 2024 /PRNewswire/ -- Today Plumery, a leader in mobile and digital banking technology, and Sumsub, a global full-cycle verification platform, are pleased to announce their technological partnership. Within the partnership, Plumery has integrated Sumsub's capabilities into its new-generation 'Headless' digital banking engagement platform, launching first with Sumsub's Know Your Customer (KYC) suite.

The combined solution will enable both traditional and challenger banks to create highly customizable onboarding flows using Plumery's serverless onboarding orchestration, and Sumsub's fully compliant KYC flows, saving them up to 80% on implementation costs and time, as well as over 50% of onboarding costs for each customer.

Plumery's 'Headless' platform allows banks, fintechs and other financial institutions to build applications on top of its APIs. The solution does not require compromising their applications' user interface (UI) or core banking solution, ensuring highly-tailored onboarding journeys for their private and business banking customers. Sumsub's pre-integrated KYC and anti-money laundering solutions verify new customers through a number of factors, including email addresses, tax residency and proof of address (PoA), as well as screen identity documents and ensure new users pass liveness checks.

"We're super-excited to become a technology partner with Sumsub," said Ben Goldin, CEO at Plumery. "Their focus on both frictionless and compliant customer experiences, as well as excellent developer experience means solutions can be delivered faster than ever. Digital and mobile onboarding has become an essential part of any digital banking experience in the last 5 years. Now, together with Sumsub, our joint customers can integrate this capability faster and more cheaply than ever before, to launch new propositions and whole banks in record time.

"Our first release has focussed on onboarding natural persons, but we plan to add KYB and wider SME-focussed functionality together in the coming months. Customers will be able to leverage not just our technologies, but also our expertise in building digital banking platforms, and Sumsub's expertise in compliance onboarding - the synergy is perfect."

"We are pleased to announce the technological partnership with Plumery," adds Andrew Sever, co-founder and CEO of Sumsub. Using our APIs, Plumery has been able to create a completely seamless end-to-end onboarding journey for its users. Through this partnership, we can now combine their innovation-focussed digital experience building, with the highest levels of compliance and fraud protection, provided by our platform."

About Plumery

Plumery is a new, 3rd generation digital engagement platform for digital banking solutions. Plumery's MACH (Microservices, API-first, Cloud-native, Headless) approach to building front-end experiences provides the flexibility for organizations that want to build and own a completely unique UI / mobile app, but also leverage pre-built capabilities to launch quickly and at lower cost.

Plumery's mission is to bring a digital engagement layer and help anyone building financial experiences deliver superior results faster without the need to choose between 'buy vs build.' Instead, Plumery's customers can leverage both approaches - buying for parity and building for a competitive edge.

About Sumsub

Sumsub is a full-cycle verification platform that secures the whole user journey. With Sumsub's customizable KYC, KYB, transaction monitoring and fraud prevention solutions, their customers can orchestrate their verification process, welcome more clients worldwide, meet compliance requirements, reduce costs and protect their business.

Sumsub has over 2,000 customers across the broader fintech and embedded finance industries, including Binance, Mercuryo, Bybit, Huobi, Unlimit, DiDi, Poppy and TransferGo.

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