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BingX is proud to announce its partnership with SumSub, an all-in-one suite for identity verification, compliance and Know Your Customer (KYC). Sumsub’s KYC system uses advanced AI technology capable of detecting potential risks that are likely to encourage cybercrime activities.
This collaboration with Sumsub speaks great volumes for BingX as a social crypto exchange operating in a regulatory sensitive space where safety, compliance & KYC are at the forefront of concern.
Major hindrances preventing crypto exchanges from capitalizing on their true potential are generally safety and being compliant with the relevant AML policies & KYC. Having a proper and strong KYC and compliance monitoring system will make it easier for BingX to gain the trust of users while expanding its services globally.
BingX’s integration of Sumsub’s two-step verification process will require users to provide a photo of their ID and ask them for permission to scan their faces. The beauty of Sumsub’s two KYC two-step verification processes lies in the simple fact that it is transparent, fast and easy for users to complete.
Founded in 2018, BingX （www.bingx.com) is a global digital asset, spot, and derivatives trading platform that provides a user-centric and open ecosystem with intuitive social trading features. Created to enrich the entire cryptocurrency industry, BingX is a safe, reliable, and user-friendly venue for users to trade their favourite assets such as Cosmos, AXS, Chiliz & DAO.
Founded in 2015, Sumsub provides companies with a system for verifying the identity of users and corporate customers. The identity verification takes 60 seconds. The process uses modern technologies such as computer vision, artificial intelligence, and machine learning. For the first few years, the company assisted the police and intelligence services of various countries in investigating cases of Internet fraud.