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Sum & Substance partnership

September 29, 2020

DAOWallet uses the most popular KYC provider

DAOWallet strengthens AML/KYC compliance with Sumsub integration

DAOWallet has signed a service provider agreement with fraud software specialist Sumsub to improve its KYC and AML compliance, delivering better value to partners in the process.

The integration will benefit DAOWallet users by reducing costs and cutting time during front and back end fraud prevention processes, which in turn keeps licensing fees low and allows for a better user experience for both business and individual partners.

Using Sumsub over internal, more manual processes is proven to improve onboarding rates by keeping identity checks painless and efficient, while the DAOWallet team can now utilise previously tied up resources to continue improving the wider payments platform and to service partners better.

Sumsub has partnered with several major global brands previously, including Uber and Gett, while they are also adept with dealing with cryptocurrency as a payment method and are fully compliant with FATF and FinCen requirements.

Artjoms Spiridonovs CEO at DAOWallet:

Having the support of Sumsub is another step towards creating the ultimate seamless crypto payment solution for gaming companies.

We appreciate that some partners have concerns over the relationship between cryptocurrency and AML procedures, and hopefully this integration will give them the peace of mind that we are dealing with the latest technology, legal advice and best practice in compliance procedures.