FOMO Pay Partners with Sumsub to Strengthen Compliance Infrastructure for Business Expansion

FOMO Pay and Sumsub have announced a partnership aimed at strengthening compliance infrastructure to address evolving regulatory requirements. This collaboration will enhance FOMO Pay's identity verification, corporate verification, and transaction monitoring capabilities, supporting its business expansion.

Background and Objectives of the Partnership

FOMO Pay is a leading payment institution in Singapore, with operations across Southeast Asia, the Guangdong-Hong Kong-Macau Greater Bay Area, Europe, America, and the Middle East. As global financial institutions face increasingly complex fraud threats, FOMO Pay needs to establish a scalable and integrable compliance infrastructure to adapt to the regulatory requirements of different economies.

According to the "Sumsub Identity Fraud Report 2025-2026," AI-driven fraud attacks have significantly increased by 180% globally year-on-year. The Middle East has seen the fastest growth in fraud, while the Asia-Pacific region also faces severe fraud risks.

Sumsub's Solutions

Sumsub's identity verification, monitoring, and risk management solutions will assist FOMO Pay in enhancing its compliance operational capabilities. Sumsub's platform supports over 220 countries and regions, with more than 14,000 types of identification documents. Its patented liveness detection technology can identify up to 99.98% of deepfake attacks in a single scan, providing additional security for businesses.

Furthermore, Sumsub's transaction monitoring tools will further strengthen FOMO Pay's risk management mechanisms, ensuring comprehensive compliance protection for its global operations.

Looking Ahead

FOMO Pay's Business Expansion Director, Leona Gan, stated that as the connections between financial services become increasingly tight, businesses need technology and compliance infrastructure that can evolve in tandem with business development. Looking ahead, FOMO Pay will continue to enhance its digital financial infrastructure and explore further applications of AI and automation technologies to improve its products and services.