Pinnacle boosts KYC capabilities through Sumsub deal

Pinnacle boosts KYC capabilities through Sumsub deal

Pinnacle will strengthen its commitment to social responsibility after signing a new partnership with Sumsub, an identity verification platform that covers the compliance disciplines of KYC, KYB and AML.

Through the new agreement, Sumsub will support the operator in streamlining its onboarding customer procedures fulfilling key compliance requisites across multiple jurisdictions, as well as helping ‘protect their users from unnecessary gambling risks’.

Veronique dos Reis, Legal, Compliance and Regulatory Affairs Manager at Pinnacle, commented: “The integrity and efficiency of our platform is a part of our success. So, to keep our operational levels high, we needed a solution that could accelerate compliance processes and level-up security. Sumsub’s solution was a great choice for us.

“We have accelerated the verification of clients, source of funds verification, and have enabled the detection of false chargebacks. It was a great leap forward in terms of the internal organisation of our compliance processes. Overall, we are providing a better onboarding experience for the members of our betting community.”

Pinnacle will benefit from a suite of verification tools such as biometric checks and AML screening. In addition, Sumsub will ensure accurate source of funds verification so that Pinnacle’s customers do not spend more than they can afford.

Moreover, Pinnacle will be provided with legitimate chargeback protection mechanisms, strengthening its compliance with responsible gambling standards.

Sumsub serves as lead customer onboarding solutions for over +700 digital across the world, including BlaBlaCar, Yandex, PaySend and Xena Exchange.

“Betting companies have to stay compliant with both AML and responsible gambling requirements, which is not an easy task. We are glad to be utilizing our expertise in order to help Pinnacle to become more socially responsible and protect their customers from any possible gaming-related issues,” concluded Jacob Sever, Co-founder of Sumsub.

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