Sumsub, a global verification provider, has announced strategic partnerships with several resellers in Southeast Asia including Nexus Technologies in the Philippines, PT Secure Pasifik Teknologi in Indonesia, and Spectrum Edge in Malaysia.

These partnerships aim to enhance fraud prevention efforts and strengthen the business environment in the region.

As Southeast Asia’s digital economy continues to grow, so do opportunities for fraudsters.

Sumsub reports significant increases in fraud, particularly in deepfakes, across the Philippines, Indonesia, and Malaysia.

Governments in these countries have responded by tightening regulations in the KYC (know-your-customer) and AML (anti-money laundering) sectors.

By partnering with local resellers, Sumsub aims to provide robust verification solutions to businesses in these key markets, helping them meet compliance standards and combat fraud and identity theft effectively.

Sumsub established its first APAC headquarters in Singapore in July 2023. Penny Chai, appointed Vice President of Business Development, has been leading operations and driving growth in Asia from Singapore.

“We thank our partners – Nexus Technologies, PT Secure Pasifik Teknologi and Spectrum Edge – for trusting us. With rising fraud and the growing accessibility of AI tools, the demand for our verification and compliance solutions has never been higher.

 

Over the past year, Sumsub has achieved significant milestones in Asia, and we aim to continue this momentum through working with our partners to build a safer and more digitally inclusive future for businesses and consumers in Asia,”

said Penny Chai, VP of Business Development at Sumsub.

Sumsub will host a roadshow, “Comply to Fortify: APAC Anti-Fraud Roadshow,” across key cities in the Philippines, Malaysia, and Indonesia to showcase its solutions and their benefits for businesses.

This article first appeared on fintechnews.sg