Regtech firm Sumsub revealed that they have achieved multiple certifications for conforming with standards set by the European Telecommunications Standards Institute (ETSI).
This milestone reflects Sumsub’s commitment “to meeting the stringent European technical standards for identity proofing and trust services.”
Sumsub has been recognized “as an esteemed Identity Proofing Service Provider (IPSP), after receiving ETSI certifications four modules” correlating to its product offerings:
Video identification, eID (electronic identification), Auto identification, and KYB (Know-Your-Business). Sumsub has met the following standards:
- ETSI EN 319 401 – general requirements for all trust service providers (TSPs)
- ETSI EN 319 411-1 – requirements for TSPs issuing certificates, which meet EU regulations such as ‘Electronic Identification, Authentication, and Trust Services’ (eIDAS)
- ETSI EN 319 411-2 – requirements for TSPs issuing EU qualified certificates
- ETSI TS 119 461 – requirements for trust service components providing identity proofing of trust service subjects
The certifications highlight Sumsub’s capabilities “to deliver secure and high-quality identity verification solutions, aligning with EU regulations like eiDAS.”
Guidelines from eiDAS state that ETSI sets “the standards for how IPSPs, like Sumsub, can verify end-user identities remotely with a ‘high level of assurance.’”
Anti-money laundering (AML) regulations in Europe “state that qualified electronic signatures (QES), as one of the identification methods provided by the eIDAS regulation, are a viable method of verifying the identities of end users across the continent.”
Given Sumsub’s certifications “under ETSI, Quality Trust Service Providers (QTSPs) can issue a QES during onboarding and verification processes across Europe, based on the knowledge that Sumsub, as their verification provider, meets such high identity verification standards.”
The current regulatory landscape “is becoming increasingly complex for businesses, with a range of nuances in local and global standards, as well as emerging fraud tactics.”
For example, recent internal data revealed “a 245% YoY surge in global deepfake fraud cases.”
As fraudsters continue to develop their capabilities, it is “imperative to rely on more secure verification methods that have higher levels of assurance and reliability.”
As such, eIDAS sets such highest standards, with QES “being equivalent to handwritten signatures.”
Tony Petrov, Chief Legal Officer at Sumsub, said:
“We remain committed to providing the highest quality identity verification and fraud prevention solutions to help firms adhere to local compliance standards. These certifications mark a significant milestone for us. Our ETSI-compliant solutions will continue to help businesses verify and protect their customers from increasingly threatening fraud techniques, including AI-powered deepfakes, and adapt to evolving regulatory landscapes.”
The certification process included a thorough assessment “from accredited certification body SRC Security Research & Consulting GmbH.”
This process ensured that Sumsub’s solutions “met the top standards for security and compatibility.”