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FOMO Pay Taps Sumsub to Support Compliance Across Markets

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FOMO Pay Taps Sumsub to Support Compliance Across Markets

FOMO Pay is adding Sumsub’s verification tools to its existing infrastructure to support compliance across its international operations.

The Singapore-headquartered payment institution operates across Southeast Asia, the Greater Bay Area, and the Middle East and North Africa, where regulatory requirements vary between markets.

Sumsub’s platform supports identity and business verification, ownership checks and anti-money laundering screening within FOMO Pay’s onboarding and compliance workflows.

FOMO Pay also uses Sumsub’s transaction monitoring tools to review customer transactions and account activity for potential risks.

“At FOMO Pay, we continuously develop our processes and technology to support our expanding footprint and changing regulatory requirements.

Our partnership with Sumsub adds further capabilities to our verification and compliance workflows, complementing the broader infrastructure we have in place as we scale across markets.”

Sumsub supports more than 14,000 identity document types from over 220 countries and territories.

Its platform also includes liveness detection technology designed to identify deepfake attempts during verification.

“For highly regulated sectors like financial services, trust and compliance must keep pace with these developments.

Our partnership with FOMO Pay reflects the growing need for scalable compliance operations, enabled by trust infrastructure that can adapt to evolving regulations and emerging fraud risks as financial services become more interconnected.”

FOMO Pay plans to continue developing its global payments, global business accounts and digital asset services while exploring wider use of AI and automation.

Featured image: Edited by Fintech News Singapore, based on image by Who is Danny via Magnific



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