Volt & Sumsub Partner on Real-Time ID Fraud Solution

Volt and Sumsub have partnered to boost Sumsub’s Penny Drop Verification. 

The partnership will enable instant name verification through open banking to help businesses meet changing AML requirements across Europe and combat growing fraud threats.

It will ensure the onboarding process is secure and efficient for businesses and allows users to verify with ease.

Andrew Novoselsky, Chief Product Officer at Sumsub, explains: “With regulatory landscapes becoming more complex and fraud evolving at an alarming pace, businesses need verification solutions that are both compliant and frictionless.

"Europe saw the second-highest increase in fraud globally, with cases surging 150% year-over-year – driven in part by increasingly sophisticated fraud tactics.

​​​​​​​“AI-powered fraud is escalating rapidly, with deepfake-driven fraud alone increasing 4x worldwide from 2023 to 2024. These rising threats highlight the urgent need for secure, real-time verification.

"Our Penny Drop Verification solution ensures businesses can confidently stay ahead of increasingly advanced fraud attempts, safeguard their operations and protect users in an increasingly risky digital world.”

The partnership 

This partnership will improve the identity verification process through open banking by combining two complementary technologies.

Volt’s real-time payment and open banking infrastructure will power Sumsub’s Penny Drop Verification solution.

The partnership will function through:

User verification

An end user scans their identify documents as part of the onboarding process

Redirect to banking app

The user is sent to their banking app. They are then prompted to send a 1c payment via Volt’s hosted checkout. 

Instant refund

The payment is refunded instantly to maintain a seamless user experience.

Data matching

Volt’s Matchmeter technology compares the bank account holder’s name with the name on the ID document

This process creates a real-time verification loop that confirms both account and identity ownership.

The technology behind it 

Volt and Sumsub combine open banking APIs, real-time payments and automated identity verification to offer a secure and seamless onboarding experience.

Both of the companies utilise technology to offer seamless experiences:

Real-time payments via Volt’s Hosted Checkout

• Volt’s Hosted Checkout will verify account ownership in real-time, helping to reduce verification time from days to seconds

Payment Initiation Services (PIS)

• This authorises the 1c payment using the user’s bank credentials, allowing transactions to be conducted with full user consent via secure redirection to the bank’s environment. 

Account Information Services (AIS) and Matchmeter

• Volt’s AIS unlocks access to selected user bank data while Matchmeter uses AI to maintain high precision and reduce false negatives caused by variations in name formatting

Identity verification Engine (Sumsub)

• This orchestrates the identity verification workflow to support everything from KYC to AML compliance across different authorities

Qualified Electronic Signature (QES) enablement

• QES is common in markets like Germany. The partnership supports compliance with local and EU regulations. QES requires a verified identity and is legally binding. This partnership offers cross-verification with official documents and real-time bank identification confirmation

By combining Volt’s infrastructure with Sumsub’s verification engine, the partnership offers a frictionless, compliant and resilient identity solution.

Strategic vision

Volt and Sumsub’s partnership mirrors its shared commitment to transforming digital identity verification by combining automated compliance technology and real-time open banking infrastructure. 

Matthew Rickard, Volt’s Senior Partnerships Manager, says: “Working with Sumsub exemplifies Volt’s commitment to partnering with innovative brands that recognise the value of real-time networks within their technical infrastructure. 

“From day one, Sumsub has had a clear vision of unifying the consumer verification experience across multiple markets. Volt’s global orchestration of account-to-account networks aligns closely with this vision, and I’m excited to continue driving this innovation forward.”

The pair of companies will make trust vital in the transaction process to allow real-time fraud detection, instant identity confirmation and faster user activation. This approach mirrors market demand for high-assurance and low-friction digital experiences.

As AI technologies like synthetic identities and deepfakes become more prevalent, traditional verification models are proving to be inadequate. The partnership shows the companies as future-ready and able to evolve with fraud tactics.

The Volt–Sumsub partnership will create a real-time, API-first, compliance-by-design ecosystem for the onboarding process that embraces scale, security and seamlessness.

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