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Mitek Mobile Verify VS Sumsub

Compare Mitek Mobile Verify VS Sumsub and see what are their differences

ComplyCube
Verify your customers in under 15 seconds anywhere in the world with a cutting-edge SaaS & API platform for Identity Verification and AML/KYC compliance. featured
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Mitek Mobile Verify logo Mitek Mobile Verify

Mitek Mobile Verify is an Identity verification solution that delivers I.D.

Sumsub logo Sumsub

One verification platform to secure the whole user journey
  • Mitek Mobile Verify Landing page
    Landing page //
    2023-08-05
  • Sumsub Landing page
    Landing page //
    2022-10-30

Sumsub is the one verification platform that secures every step of the user journey. With Sumsub’s customizable KYC, KYB, transaction monitoring and fraud prevention solutions, you can orchestrate your verification process, welcome more customers worldwide, meet compliance requirements, reduce costs and protect your business.

Sumsub achieves the highest conversion rates in the industry—91.64% in the US, 95.86% in the UK, and 90.98% in Brazil—while verifying users in less than 50 seconds on average.

Sumsub’s methodology follows FATF recommendations, the international standard for AML/CTF rules and local regulatory requirements (FINMA, FCA, CySEC, MAS, BaFin).

Mitek Mobile Verify features and specs

  • Enhanced Security
    Mitek Mobile Verify offers high-level security features that help prevent identity fraud by accurately verifying user identities.
  • User Convenience
    The platform allows users to verify their identity using their mobile devices, making the process swift and convenient.
  • Wide Compatibility
    It supports various forms of identification documents, which can be used globally, making it suitable for international use.
  • Real-time Verification
    Provides real-time identity verification, allowing businesses to onboard new customers quickly without long waiting periods.
  • Regulatory Compliance
    Helps businesses to comply with various regulatory requirements, such as KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations.

Possible disadvantages of Mitek Mobile Verify

  • Privacy Concerns
    Handling of sensitive personal data might raise privacy concerns among users who are cautious about sharing their information.
  • Technical Challenges
    Integration with existing systems can be complex and require technical expertise, which might be a barrier for some businesses.
  • Cost
    The cost of implementing and maintaining the service can be high, particularly for small businesses with limited budgets.
  • Dependence on Mobile Technology
    Relies heavily on mobile technology, which can be a limitation for users who do not own smartphones or experience connectivity issues.
  • Learning Curve
    There may be a learning curve for both users and businesses to understand and effectively use all features of the platform.

Sumsub features and specs

  • Compliance with regulations
    Sumsub offers features to ensure businesses comply with KYC, KYB, and AML regulations, reducing the risk of legal issues.
  • User-friendly interface
    The platform is designed to be intuitive, making it easier for both businesses and users to navigate the verification process.
  • Automated verification
    Sumsub provides automated processes to quickly verify documents and identities, reducing manual workload and speeding up onboarding.
  • Global reach
    Supports document verification from over 220 countries and territories, making it suitable for businesses with an international user base.
  • Customization options
    Offers various customization features to tailor the verification process according to specific business needs and user flows.
  • Fraud prevention
    Advanced technology to detect fraudulent documents and identities, enhancing the security and integrity of the verification process.
  • Comprehensive Analytics
    Provides detailed analytics and monitoring tools to track the verification process and identify bottlenecks or issues.

Possible disadvantages of Sumsub

  • Cost
    The service can be expensive, which might be a barrier for smaller businesses or startups.
  • Complexity for smaller organizations
    The range of features and customization options may be overwhelming for smaller businesses that do not have dedicated compliance teams.
  • Integration challenges
    Some businesses may experience difficulties integrating Sumsub with their existing systems, especially if they have unique technical requirements.
  • Dependence on internet connection
    The service relies on a stable internet connection for real-time verification, which might be problematic in regions with poor connectivity.
  • User privacy concerns
    Users might have concerns about sharing sensitive personal information, such as identity documents, even though Sumsub follows strict security protocols.
  • Regional regulations
    Compliance features might not be entirely up-to-date with the latest regional regulatory changes in fast-evolving jurisdictions, requiring businesses to perform regular reviews.

Mitek Mobile Verify videos

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Sumsub videos

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How Sumsub KYC works

More videos:

  • Demo - Full-cycle business verification (KYB)
  • Review - The most flexible transaction monitoring solution (KYT)

Category Popularity

0-100% (relative to Mitek Mobile Verify and Sumsub)

Mitek Mobile Verify

Sumsub

Security & Privacy
44 44%
Security & Privacy
56% 56
Identity Verification And Protection
7 7%
Identity Verification And Protection
93% 93
Identity And Access Management
100 100%
Identity And Access Management
0% 0
Identity Verification
0 0%
Identity Verification
100% 100

User comments

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Reviews

These are some of the external sources and on-site user reviews we've used to compare Mitek Mobile Verify and Sumsub

Mitek Mobile Verify Reviews

We have no reviews of Mitek Mobile Verify yet.
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Sumsub Reviews

  1. Vito A
    · Trader ·

    Hands down one of the best experiences with document verification. I have to go through this kind of checks on a weekly basis and sumsub is relatively fast and has a smooth interface that guides you through the whole process. Solid 5/7

    👍 Pros:    Super fast
The Top 10 KYC (Know Your Customer) Solutions
Sumsub is a user verification platform that is designed to provide an easy onboarding process for trusted users from any country. This helps to ensure regulatory compliance, while minimizing fraudulent activities. With a 30-second onboarding time, the platform offers customizable Know Your Customer (KYC) and Anti-Money Laundering (AML) processes tailored to meet unique...
Source: expertinsights.com
Discover the Top 5 Identity Verification Providers in 2023
When it comes to capabilities, flexibility is a key selling point as it empowers organizations to align the identity verification service with their unique workflows, compliance needs, and risk appetite. Different vendors provide different levels of customizations, with ComplyCube and SumSub offering the most flexible and granular options in their respective online portals.
Source: www.techtimes.com

Social recommendations and mentions

Based on our record, Sumsub seems to be more popular. It has been mentiond 8 times since March 2021. We are tracking product recommendations and mentions on various public social media platforms and blogs. They can help you identify which product is more popular and what people think of it.

Mitek Mobile Verify mentions (0)

We have not tracked any mentions of Mitek Mobile Verify yet. Tracking of Mitek Mobile Verify recommendations started around Apr 2022.

Sumsub mentions (8)

  • Haru Invest referral code: 🚀💰 'HELLO' (March 2023)
    After that you must complete secure KYC process (done via the SumSub company). Source: about 2 years ago
  • Binance p2p
    I didnt recieve my crypto from the p2p Transfer and its asking for me to do verification from sumsub.com. I have no idea what this website is but I filled out the verification and it says they are partnered with Binance. Source: over 2 years ago
  • Community discussion about Spectrum Finance $SPF token in this thread December 9th, 6 pm UTC — Please join!
    KYC and data storage could be done by a trusted third-party service called Sum and Substance. Source: over 2 years ago
  • Level 2 verification - document not approved / CS not replying
    It might be required to present proof of address for KYC, which you can learn more about here. The KYC procedure is handled by our partners at sumsub.com and they are the ones checking the validity of the document. Source: almost 3 years ago
  • Is there a way to verify my account with non-english IDs/ PoA?
    Updated the link with the source. Hope it helps. https://sumsub.com/. Source: about 3 years ago
View more

What are some alternatives?

When comparing Mitek Mobile Verify and Sumsub, you can also consider the following products

Veriff - AI-powered identity verification & fraud prevention software Veriff provides a best- in-class identity verification solution combining AI with in-house experts to maximize accuracy and speed.

Onfido - Onfido is the data-driven platform for intelligent background checking.

IDology - IDology offers real-time and on-demand identity verification and fraud prevention solutions.

ComplyCube - Verify your customers in under 15 seconds anywhere in the world with a cutting-edge SaaS & API platform for Identity Verification and AML/KYC compliance.

Yoti - A simple, secure way to store and prove your identity

Acuant - Acuant provides Identity Verification to instantly reduce fraud and increase revenue. 

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