Sumsub, a global verification platform, has teamed up with Next Generation NGPES to enhance fraud protection and onboarding for its clients.
Key Features of the Partnership
Identity verification and AML regulation compliance are among the notable features as Sumsub and Next Generation NGPES launch an augmented payment ecosystem with a EUR-backed stablecoin.
The Next Generation Payment Ecosystem (NGPES) aims to integrate traditional finance with digital assets, creating a unified platform that includes digital asset custody, settlement, regulatory compliance, and the integration of IBAN transactions into a digital wallet for swift financial transfers.
Sumsub’s advanced verification solutions, which incorporate traditional KYC checks alongside liveness detection, transaction monitoring, and additional fraud prevention tools, ensure robust security and compliance for the platform.
Stablecoin Launch and Regulatory Challenges
The introduction of a stablecoin within the NGPES highlights the emphasis on security and compliance in light of evolving cryptocurrency regulations and high fraud rates. Sumsub’s data indicates a 48% surge in crypto industry fraud in 2024, while 60% of crypto companies anticipate stricter regulations.
Only 29% fully comply with the Travel Rule, which underscores the complexity and ongoing challenges in adhering to regulatory requirements.
Enhancing Global Compliance with Sumsub and Data Zoo
In June 2025, Sumsub partnered with Data Zoo to bolster global compliance efforts. This collaboration combines Sumsub’s suite of compliance solutions—focusing on verification and anti-fraud measures—with Data Zoo’s extensive global data capabilities.
Data Zoo specializes in identity verification data for financial institutions, payment platforms, and fintech companies, enabling them to verify identities across more than 170 jurisdictions using multiple authoritative sources. Its access to international data and advanced sequencing provides a secure alternative for KYC/KYB verification and compliance.
