Sumsub has been named a Leading Vendor in both the 2026 Liminal Index for KYC in Banking and the Liminal Index for Business and Entity Verification, as regulatory pressures and evolving fraud threats force financial institutions to modernize compliance infrastructure. The recognition comes as tightening global regulations, including the U.S. Corporate Transparency Act, EU AML Regulation, and UK Economic Crime Act, accelerate the need for banks to replace legacy systems with unified platforms capable of handling complex business verification and continuous risk monitoring.
- Vendor Switching Likelihood: 55% of banks rate a KYC vendor switch as likely within 12 months
- Perpetual KYC Adoption: 98.8% of banks have deployed, are deploying, or plan to deploy perpetual KYC within 12 months
- Manual Review Burden: 83% of banks manually review more than 10% of KYC cases, spending 30+ minutes per case
- Unified Platform Preference: 87% of banks surveyed prefer a single broad compliance platform over specialized point tools
- Business Entity Verification Growth: 60% of business customers now undergo BEV, up from 44% two years ago
Liminal evaluated 86 KYC vendors across product execution, strategic alignment, and market presence to identify 20 leaders. The research firm surveyed 100 compliance practitioners in March 2026, establishing minimum product execution scores of 62% and strategy scores of 76% for leading vendor designation. The findings reveal that 40% of institutions cite Ultimate Beneficial Ownership identification as their biggest business entity verification challenge, while 67% of businesses report increased fraud targeting both individual accounts and corporate structures.
Modern fraud doesn’t separate human identity from business entities, and compliance infrastructure shouldn’t either. Liminal’s research confirms that as perpetual KYC becomes the operating standard and UBO tracking grows more complex, compliance teams can no longer operate in silos. Being named a Leading Vendor reflects our commitment to delivering an integrated, AI-first infrastructure that automates screening, perpetual monitoring, and entity verification at scale.
Andrew Sever, Co-founder and CEO of Sumsub, emphasized that the recognition underscores the industry’s shift toward consolidated solutions. The research indicates that 87.5% of banks in the BEV index prefer unified platforms, with only 11% favoring specialized point solutions. As regulatory demands intensify and fraud sophistication increases, institutions are actively seeking vendors capable of delivering comprehensive, continuous compliance monitoring rather than fragmented tools addressing individual compliance functions.
Andrew Sever, Co-founder and CEO of Sumsub. Source: LinkedIn
