How does Entity Verification API compare to User Verification?

Moody's Entity Verification API provides real-time access to comprehensive entity data from over 200 countries, sourced from national registries and company databases. This solution streamlines the Know Your Business (KYB) process by delivering up-to-date information on more than 500 million global companies, aiding in compliance with anti-money laundering (AML) and anti-corruption regulations. By integrating this API, organizations can enhance their compliance workflows, reduce manual efforts, and ensure accurate business verification.

Sumsub's User Verification solution enables businesses to verify users globally while ensuring compliance with international regulations. The platform supports over 14,000 ID types from more than 220 countries and territories, utilizing AI-driven Optical Character Recognition (OCR) to accurately extract data from various scripts, including Cyrillic, Hindi, Hieroglyphs, and Arabic. This comprehensive approach facilitates seamless onboarding processes, achieving high pass rates and enhancing user experience.

Key features include:

- **ID Verification**: Supports a vast array of document types, ensuring authenticity and validity.

- **Biometric Verification**: Employs liveness detection and face matching technologies to confirm the user's identity, mitigating risks associated with deepfakes and spoofing attempts.

- **Address Verification**: Reduces processing time to less than one minute, regardless of language or Proof of Address document type, with options for database and geolocation verification.

- **Non-Document Verification**: Allows for rapid user onboarding without documents in selected countries, cross-referencing identity data using trusted databases to increase pass rates by an average of 35%.

By integrating these features, Sumsub's User Verification solution streamlines the onboarding process, reduces fraud, and ensures adherence to compliance standards across diverse jurisdictions.

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Moody’s is a globally recognized integrated risk assessment firm best known for its credit ratings, research, and analytical tools in the financial sector. Founded in 1909 by John Moody, the company has grown over the past century to become one of the “Big Three” credit rating agencies, alongside Standard & Poor’s and Fitch Ratings. Moody’s provides ratings, insights, and risk analysis that inform and guide investors, financial market participants, and policymakers around the world.

At the core of Moody’s offerings are its credit ratings—an evaluation of creditworthiness that measures the likelihood that a borrower (such as a corporation, government, or structured finance entity) will be able to meet its debt obligations. These ratings, expressed through a standardized alphanumeric scale (ranging from Aaa for the highest-quality obligations to C for those in default), help inform lending decisions, influence interest rates, and shape investor perceptions. They are often required by regulatory bodies and are considered an essential component in global capital markets.

Moody’s also provides a wide array of research, data, and analytic tools to support risk management, portfolio analysis, and strategic decision-making. Through its subsidiary Moody’s Analytics, the firm delivers software solutions, economic data sets, quantitative models, and advisory services. These offerings support customers in areas ranging from credit risk measurement, stress testing, and regulatory compliance to supply chain management and environmental, social, and governance (ESG) assessments.

Another critical function of Moody’s is its role as a thought leader. Its analysts regularly publish sector research, market outlooks, and special commentary on emerging economic and financial trends. These insights help shape market discourse and policy debates on issues ranging from global debt sustainability to climate risk and systemic financial vulnerabilities.

Sumsub, short for "Sum and Substance," is a London-based company specializing in identity verification and compliance solutions. Founded in 2015 by brothers Andrew, Peter, and Jacob Sever, along with Vyacheslav Zholudev, Sumsub has grown into a global provider of Know Your Customer (KYC), Know Your Business (KYB), Anti-Money Laundering (AML) screening, and fraud prevention services.

Core Offerings:

- User Verification: Sumsub's platform facilitates seamless online identity verification across over 220 countries, achieving a 93% first-try verification success rate. It employs AI-driven Optical Character Recognition (OCR) technology to handle various document types and scripts, ensuring high pass rates globally.

- Business Verification (KYB): The company streamlines the verification process for businesses, enabling rapid onboarding while ensuring compliance with regulatory standards.

- Transaction Monitoring (KYT): Sumsub's platform monitors user transactions in real-time to detect suspicious activities, aiding in AML compliance and fraud prevention.

- Fraud Prevention: Utilizing advanced machine learning algorithms, Sumsub identifies and mitigates fraudulent activities, protecting businesses from various types of digital fraud.


Global Reach and Clientele:

Sumsub operates internationally, with offices in London, Berlin, Limassol, Miami, Dubai, and Singapore. The company serves over 2,500 clients across industries such as fintech, online gaming, trading, and transportation. Its platform is designed to secure the entire user journey, from onboarding to ongoing monitoring, providing a unified solution for compliance and fraud prevention needs.

Technological Capabilities:

The platform incorporates face matching and liveness detection technologies, ensuring that the individual presenting identification documents is physically present and matches the document's holder. This enhances the accuracy and reliability of the verification process.

Recognition and Impact:

In 2023, Sumsub was recognized as a G2 Leader in Identity Verification Services, highlighting its prominence in the industry.

Financial and Operational Highlights:

As of 2024, Sumsub has raised a total of $7.5 million in funding over three rounds, with investors including Flint Capital and MetaQuotes. The company reported an annual revenue of £31.49 million in FY 2022 and employs over 450 professionals worldwide.