Noah's New Partnership Cuts Financial Onboarding Time by 70%
Noah Kahan has partnered with Sumsub to streamline user onboarding for financial institutions worldwide. This collaboration aims to enhance customer verification processes, reducing delays and drop-offs. By integrating Noah's infrastructure with Sumsub's automated tools, the process now takes mere seconds instead of minutes.
The partnership focuses on reusable identity verification, allowing users to bypass repeated checks if they've already been verified by one of Sumsub's 4,000+ partner institutions. This approach has significantly reduced verification times by up to 70% and nearly doubled Noah's monthly KYC capacity. Clients using the system report a 220% increase in successful verifications, 63% faster onboarding, and a 56% decrease in users abandoning the process.
The partnership also strengthens compliance standards across Noah's platform. Risk-based assessments and regulatory oversight remain fully intact, ensuring that financial firms meet global requirements without compromising speed. Noah's customers, many of whom are at the forefront of global finance, now have access to an end-to-end compliance engine designed for large-scale operations.
Despite 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 standard for onboarding and verification in modern finance. Institutions can now onboard users faster, with fewer errors and less fraud, while customers avoid redundant checks. The system's success underscores the growing demand for reusable identity solutions, but widespread adoption still hinges on future interoperability with government-backed digital wallets.
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