Sumsub Named a Leader in the First Gartner Magic Quadrant for Identity Verification

Sumsub, a global full-cycle verification and ongoing monitoring provider, announced that it has been positioned by Gartner as a Leader in the Magic Quadrant for Identity Verification for its Identity Verification product’s technological excellence and multiple innovative features. The evaluation was based on specific criteria that analysed the company’s overall Completeness of Vision and Ability to Execute.

Sumsub’s full-cycle platform offers advanced AI-powered solutions in Identity Verification (KYC), Business Verification (KYB), Transaction Monitoring and Fraud Prevention solutions among other useful features. Sumsub’s platform is capable of processing 14,000+ ID document templates, including handwritten documents in rare languages, from 220+ countries and territories. Among the company’s flagship products are an advanced Deepfake Detection tool for facial biometrics and video checks, as well as a Non-Doc Identity Verification solution available for verifying over 2.9 billion people without scanning any documents in just 4.5 seconds. Sumsub’s Non-Doc solution offers the widest geo coverage on the market spanning four continents – Africa, Eurasia, North and South America.

“We appreciate this new recognition from Gartner, and we feel that being positioned as a Leader in the Magic Quadrant for Identity Verification reflects our ongoing commitment to innovation and our mission to make the digital world fraud-free and accessible to all. After launching our comprehensive Fraud Detection and Prevention solution earlier this year, Sumsub has become the only full-platform solution provider who can effectively stop any kind of digital fraud at every stage of the customer journey,” Vyacheslav Zholudev, co-founder and CTO at Sumsub, said.

This is the first time Gartner has released the Magic Quadrant report in Identity Verification. Among Leaders, Sumsub is positioned highest on the Ability to Execute axis.

Magic Quadrant reports are a culmination of rigorous, fact-based research in specific markets, providing a wide-angle view of the relative positions of providers in markets where growth is high and provider differentiation is distinct. Providers are positioned into four quadrants: Leaders, Challengers, Visionaries and Niche Players. The research enables readers to get the most from market analysis in alignment with their unique business and technology needs.