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Sumsub VS LaunchKit - Open Source

Compare Sumsub VS LaunchKit - Open Source and see what are their differences

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Sumsub logo Sumsub

One verification platform to secure the whole user journey

LaunchKit - Open Source logo LaunchKit - Open Source

A popular suite of developer tools, now 100% open source.
  • 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).

  • LaunchKit - Open Source Landing page
    Landing page //
    2023-09-19

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.

LaunchKit - Open Source features and specs

  • Open Source
    LaunchKit is open source, allowing for full transparency and customizability. Developers can inspect the underlying code, contribute to the project, and adapt it to their specific needs.
  • Cost-effective
    Since it is open source, LaunchKit can be used for free, which is ideal for startups and small businesses with limited budgets.
  • Community Support
    The open-source nature encourages a community of contributors and users who can provide support, share knowledge, and potentially contribute improvements and bug fixes.
  • Flexibility
    Users can customize and extend the platform to fit their unique requirements, adding or modifying features as needed.
  • No Vendor Lock-in
    Being open-source helps avoid vendor lock-in, giving users the freedom to deploy on any infrastructure they choose.

Possible disadvantages of LaunchKit - Open Source

  • Maintenance Responsibility
    Users are responsible for maintaining and updating the software themselves, which can require considerable time and technical expertise.
  • Documentation
    Open-source projects may have incomplete or outdated documentation, making it harder to get up to speed and properly implement features.
  • Support
    Lack of official customer support might be a drawback for businesses that require reliable assistance, particularly in critical situations.
  • Complexity
    Customization and extending the platform can add complexity, requiring a higher level of technical skill to implement and troubleshoot.
  • Scalability
    As with many open-source projects, ensuring the platform scales efficiently may require significant additional effort and resources.

Sumsub videos

+ Add

How Sumsub KYC works

More videos:

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

LaunchKit - Open Source videos

No LaunchKit - Open Source videos yet. You could help us improve this page by suggesting one.

Add video

Category Popularity

0-100% (relative to Sumsub and LaunchKit - Open Source)

Sumsub

LaunchKit - Open Source

Identity Verification And Protection
100 100%
Identity Verification And Protection
0% 0
Developer Tools
0 0%
Developer Tools
100% 100
Identity Verification
100 100%
Identity Verification
0% 0
Productivity
0 0%
Productivity
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 Sumsub and LaunchKit - Open Source

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

LaunchKit - Open Source Reviews

We have no reviews of LaunchKit - Open Source yet.
Be the first one to post

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.

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: over 2 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: almost 3 years ago
View more

LaunchKit - Open Source mentions (0)

We have not tracked any mentions of LaunchKit - Open Source yet. Tracking of LaunchKit - Open Source recommendations started around Mar 2021.

What are some alternatives?

When comparing Sumsub and LaunchKit - Open Source, you can also consider the following products

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

SmallDevTools - Handy developer tools with a delightful interface

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.

whatdevsneed - This is whatdevsneed.

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.

Google Open Source - All of Googles open source projects under a single umbrella

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