KYC Compliance Solution for Hong Kong
Welcome more verified users worldwide
Stay compliant with Hong Kong Monetary Authority’s guidelines using KYC, Business Verification, Ongoing AML, Transaction Monitoring, and Travel Rule solutions to make verification easy for your users.
Get high pass rates and comply with laws in Hong Kong
With an average pass rate of 97.89%, secure all your verification needs while staying compliant with HKMA guidelines.
- Fintech: Achieve 240% ROI and <6 months payback; get handy case management tools for sophisticated frauds.
- Crypto: Find the perfect balance between compliance and pass rates with a secure and global verification solution.
- Trading: Onboard more traders in <30 secs with automated user verification flows and reduce KYC/AML costs by 40%.
- Ecommerce: Convert more users with biometrics, get a 97% hit rate, encourage repeat transactions with a friendly UX.
Onboard more honest users
With short and clear user journeys, drop-off rates are minimized.
- Localize user journeys with 38+ languages, including Chinese, Malay, Korean, Japanese, Thai, Vietnamese, and more.
- Build the verification steps you need. We’ll help you pick the right conditions, levels, triggers, actions—free of charge.
- Enhance your verification process with KYC, AML, Liveness, Face Match, and proof of address checks to ensure verification that yields top results.
- Download data and logs to prepare for audits and report to regulators; solve all compliance tasks in a single dashboard.
Stop losing money on fraud
Provide your compliance and risk teams with a powerful tool to secure every transaction. Deter financial fraud, identify suspicious activity instantly, and maintain impeccable compliance.
- Reveal risky clients by assigning behavioral risk scores and checking an internal list of 1m+ fraudsters.
- Don’t lose money on undetected money laundering and fraud. Detect all red flags in real time.
- Reduce false positives without compromising on compliance. Honest users in, money launderers out.
- Combine KYC/AML, transaction monitoring, and fraud prevention to detect and report suspicious activity.
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Secure every step of the customer journey
Easily orchestrate the verification flow to suit your onboarding optimization efforts, risk levels, internal policies, and compliance requirements, code-free.
Automate verification steps
to fit your AML policy
Build verification flows according to user risk profiles, automatically run extra checks based on applicant actions, and set up triggers for manual case review. All without writing a single line of code.
Easy integration with your stack
Integration via web SDK, mobile SDK, or our RESTful API, with an uptime of over 99.5%. Connect Sumsub to all of your tools.
Don’t take our word for it.
Here’s what our clients have to say
CCO at Nicehash
We started using Sumsub at the beginning of 2020. Since then we’ve checked approximately half a million users. They’ve helped us a lot with their highly sophisticated KYC/AML solutions. At the beginning of our collaboration, we mainly used Sumsub to manage security risks for our platform and its users, but we added more services and solutions as we grew to effectively manage AML risks and verify users.
Legal Counsel at YouHodler
The Sumsub integration will be a huge help for our dedicated compliance officers, helping them manage their time more efficiently and turn their focus to helping our clients in other aspects of our company's development. Sumsub will also enable YouHodler to create automatic reports for regulatory bodies and applicable laws.
Co-Founder and CEO at Oobit
We love the fact that Sumsub provides the user with either a verified acceptance or rejection immediately. This saves users’ valuable time and makes the onboarding experience far more convenient and user friendly.
Product Manager at Libertex
Choosing Sumsub was one of our best decisions. There are very few tech solutions in the market with such a vast amount of features and proposals. And what is even more important - they grow and improve every year, always try to be up-to-date
Product Owner at Mercuryo
Sumsub’s Reusable KYC feature has been a pleasant experience for us so far. Together with the Shared Token integration, this has helped us reduce onboarding time by eliminating unnecessary steps for new users globally.
See Sumsub in action
Tell us about your business goals and we’ll come back with a tailored solution. That's how we build solid compliance.
FAQ
- What is KYC in Hong Kong?
Hong Kong’s financial institutions are required to conduct KYC checks when onboarding customers. The guidelines detailing the KYC procedure are issued by the Securities and Futures Commission (SFC). For individual customers onboarded remotely, businesses typically must verify their full name, date of birth, nationality and unique ID number.
- What is a KYC/AML service?
KYC stands for Know Your Customer. KYC is a process that allows financial organizations to verify the identity of individuals and businesses they work with. KYC is required in order to comply with AML (anti-money laundering) rules. A KYC/AML service is designed to perform identity verification, thus allowing your business to meet compliance requirements and prevent fraud.
- How does AML software work?
AML software filters and analyzes customer data to assign an appropriate level of suspicion. In other words, AML software allows financial institutions to screen their users for suspicious activity that could indicate money laundering.
- What is transaction monitoring?
AML transaction monitoring is the process of screening customer transactions for signs of money laundering activity. This process involves the assessment of current and historical customer data, including transfers, withdrawals, and deposits, for discrepancies. Suspicious activity involves income from undeclared sources, the use of false social security numbers, and a large number of transactions under $10,000, among others.