Noah and Sumsub Revolutionize Financial Onboarding with Faster KYC
Noah has teamed up with Sumsub to speed up and simplify user onboarding for financial firms around the world. The partnership aims to create a smoother, more secure way for businesses to verify customers while cutting down on delays and drop-offs. By combining Noah's infrastructure with Sumsub's automated tools, the process now takes seconds instead of minutes.
The collaboration focuses on reusable identity verification, allowing users to skip repeated checks if they've already been verified by one of Sumsub's 4,000+ partner institutions. This approach has slashed verification times by up to 70% and nearly doubled Noah's monthly KYC capacity. Clients using the system report a 220% rise in successful verifications, 63% faster onboarding, and a 56% drop in users abandoning the process.
The partnership also tightens compliance standards across Noah's platform. Risk-based assessments and regulatory oversight remain fully intact, ensuring that financial firms meet global requirements without sacrificing speed. Noah's customers—many of whom are shaping the future of global finance—now have access to an end-to-end compliance engine designed for large-scale operations.
Despite the progress, fully operational government-backed digital identity wallets, like the EU's EUDI-Wallet, are still in testing. Pilots in Germany, France, and Italy are underway, but public rollout isn't expected until 2027. Early systems, such as the Cayman Islands' My eID, remain in early stages and lack confirmed compatibility with reusable KYC frameworks.
The Noah-Sumsub partnership sets a new benchmark for onboarding and verification in modern finance. Firms can now onboard users faster, with fewer errors and less fraud, while customers avoid redundant checks. The system's success highlights the growing demand for reusable identity solutions—but widespread adoption still depends on future interoperability with government-backed digital wallets.
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