This latest collaboration is reportedly designed to streamline the security token issuance process, thus offering issuers as well as investors with an efficient and secure experience.
As noted in a blog post, Regtech company Sumsub is pleased to announce a strategic collaboration with Polymath, which is described as a platform for the creation, issuance, and management of security tokens.
This new partnership integrates Sumsub’s verification services directly into the Polymath platform, creating a robust compliance solution tailored to the security token market.
The recent collaboration between Polymath and Regtech firm Sumsub is said to represent a significant advancement in the security token industry.
By integrating Sumsub’s compliance tools, which support Know Your Customer (KYC), Know Your Business (KYB), and Anti-Money Laundering (AML) processes, Polymath can offer a platform that “simplifies” the process of verifying investor and business identities, ‘performing due diligence, and ensuring regulatory compliance.”
This integration is reportedly designed to streamline, enhance the security token issuance process, offering issuers and investors with a significantly more efficient and secure experience.
Sumsub’s tech supports compliance in 220+ countries as well as territories, offering automated KYC, KYB, and AML checks that are considered to be vital components of the compliance framework for security tokens.
By embedding these capabilities into its platform, Polymath enables issuers to expedite “smooth onboarding processes” for both investors and businesses while also maintaining the “highest standards” of maintaining regulatory compliance.
This integration reduces the need for multiple third-party services, saving considerable time as well as resources for all parties involved.
As noted in the update, Polymath explains that it simplifies the complex challenges of “creating” and “managing” security tokens.
With a focus on ensuring regulatory compliance, Polymath’s technology provides a platform for issuers, thus assisting them with enabling the creation, issuance, and management of security tokens in a secure and compliant manner.
