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Sumsub Strengthens Security and Verification in the Philippines Through New Local Partnership with Nexus Technologies

Sumsub Strengthens Security and Verification in the Philippines Through New Local Partnership with Nexus Technologies

Sumsub, a global full-cycle verification provider, has announced a strategic, reseller partnership with Nexus Technologies, as part of its expansion efforts in Southeast Asia. The partnership aims to bolster the region’s fraud prevention landscape and foster a more resilient business environment, empowering local businesses to navigate the evolving fraud landscape.

As Southeast Asia’s digital economy thrives, the surge in online activities has also provided opportunities for fraudsters, resulting in financial losses and diminishing customer trust. According to Sumsub, the Philippines is facing escalating fraud trends. Notably, the Philippines recorded the highest growth in deepfakes across APAC, with a staggering increase of 4500% from 2022 to 2023. As a result, several governments have also tightened regulations in the KYC (know-your-customer) and AML (Anti-Money Laundering) sectors.

By partnering with the local reseller, Sumsub extends access to its robust verification solutions across the Philippines, which is key. This strategic collaboration enables businesses in the country to implement Sumsub’s advanced technology, ensuring they meet stringent compliance standards and effectively combat the rising challenges posed by fraud and identity theft.

“We thank our Nexus Technologies 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 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 formally established its first APAC headquarters in Singapore in July 2023, leveraging the nation’s strategic position as a gateway to other Asian countries and its thriving ecosystem of digital assets and fintech businesses. Last April, Penny Chai was appointed as its Vice President of Business Development, where she’s been leading operations and driving business development in Asia from Singapore.  In recent years, Sumsub has partnered with well-known companies in the APAC region including ChainUp, a blockchain technology solutions provider and CODE, a South-Korean Travel Rule compliance solution. The company has also secured new clients since 2023 such as dtcpay, a leading Singapore-based payment service provider.

“Nexus Technologies proudly partners with Sumsub, leveraging our position as a premier IT reseller in the Philippines to enhance our business development strategies. Sumsub’s robust identity verification solutions, renowned for their accuracy and compliance, complement Nexus’s 30-year legacy of delivering global-leading IT solutions to our clients. Our partnership aims to meet the Philippine market’s evolving needs,” said Lionel K Ting, Senior Vice President for Business Development at Nexus Technologies.

To commemorate these partnerships and expand their presence in the region, Sumsub will be hosting its roadshow, “Comply to Fortify: APAC Anti-Fraud Roadshow” together with its new partners. The roadshow will span across key cities in the Philippines, Malaysia, and Indonesia, providing a platform to showcase Sumsub’s solutions and demonstrate how businesses can benefit from their solutions. To know more about the roadshow, visit:

https://sumsub.com/comply-to-fortify-apac-partner-roadshow/philippines/

 

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