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Sumsub opens new APAC headquarters in Singapore

By Gloria Mathias

July 24, 2023

  • APAC
  • APAC headquarters
  • Binance
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Sumsub, verification, Fraud Management, Singapore, APAC, Hong kongSumsub, a Cypress-based verification provider, has announced making Singapore its APAC headquarters, forging vital partnerships, and serving new clients in Singapore, Hong Kong and beyond.

This strategic move comes in response to the escalating threat of identity fraud in the region with the rise in digital startups.

Singapore has seen a sharp rise in digital assets and FinTech businesses. By capitalizing on Singapore’s global financial stature and tapping into its startup space, Sumsub aims to establish partnerships and extend its reach in the wider region.

“The Asia-Pacific region is one of our top priorities for global expansion. Here, digital startups, especially FinTechs, are booming, and we see huge business opportunities in the APAC market since instant user onboarding and strong fraud protection are in high demand. Sumsub has already helped thousands of global Western and Eastern companies build high-conversion verification flows while keeping fraud at bay and ensuring regulatory compliance—and we’re ready to serve more customers and partners in the APAC region,” said Andrew Sever, Co-founder & CEO of Sumsub.

With years of international experience and Asian clients in its portfolio, Sumsub has developed a product that allows companies to maintain high fraud protection and stay compliant with various KYC, KYB and AML regulations.

Sumsub breaks down borders for businesses by offering the best customer experiences customized to different jurisdictions, all while providing the highest pass rates across both emerging and developed markets.

The platform has appointed Penny Chai as its leading representative in Singapore, responsible for business development and operations in the APAC region.

“We are thrilled to announce the opening of our new regional headquarters in Singapore, marking an exciting milestone for our company in the APAC region. With our extensive experience and best practices worldwide, we are excited to work closely with our partners and businesses to foster a more secure business environment in the region,” shared Penny Chai, VP of Business Development, APAC at Sumsub.

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