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Orbital and Sumsub Collaboration: Enhancing Payment Monitoring

In a significant step towards bolstering the security and compliance of payment solutions, Orbital, a leading global platform specializing in payment orchestration across both traditional payment systems and stablecoins, has announced a strategic partnership with Sumsub, a prominent figure in verification and anti-fraud solutions. This collaboration aims to implement advanced transaction monitoring across all aspects of Orbital's payment stack, enhancing its capability to oversee both fiat and stablecoin transactions effectively.

The Importance of Robust Transaction Monitoring

As the financial landscape continues to evolve with the rise of cryptocurrencies and regulatory frameworks tightening, the need for comprehensive transaction monitoring systems becomes more critical. Orbital's integration of Sumsub's technology signifies a robust commitment to maintaining compliance and critically addresses the challenges of financial crime prevention. With the increasing adoption of standards such as the Travel Rule—an initiative designed to improve transaction transparency across borders—the timing of this partnership is fortuitous.

Sumsub's state-of-the-art solution empowers Orbital with features like real-time risk detection, enhanced screening processes, flexible rule-setting configurations, and ongoing transaction monitoring. These capabilities not only streamline the compliance process but also facilitate quicker responses to flagged activities. This, in turn, ensures clearer oversight for customers and regulatory bodies alike.

Enhancing User Experience Through Compliance

The integration of this advanced monitoring system is set to enhance both compliance and customer experience across Orbital's B2B and B2B2C services. By integrating expert third-party solutions, Orbital strengthens its fraud prevention and anti-money laundering strategies significantly. The collaboration allows for faster investigations into flagged transactions and retrospective analytics, making Orbital's financial transactions not just compliant but also tailored to meet the needs of enterprise clients and regulators.

Luke Wingfield Digby, Co-Founder and Head of Corporate Development at Orbital, emphasized the fundamental role of compliance, security, and governance in the company's operations. His insights reflect a commitment to creating a scalable, trustable ecosystem. “By using innovative features that assure our clients, we strive to stay a step ahead in a landscape that is rapidly evolving in terms of regulatory expectations,” he stated.

An Insight Into Sumsub's Role

Sumsub’s ability to provide real-time transaction insights and automated checks aligns perfectly with Orbital's vision for a secure payment environment. Julia Bond, Business Development Director for Sumsub in the EU and UK, highlighted the natural synergy between the two companies, noting, “This partnership allows us to reinforce Orbital's capabilities in detecting suspicious activities, ensuring that they remain ahead of any regulatory changes.”

As both companies continue to innovate in their respective fields, the impact of this partnership could resonate across the payment industry, encouraging other platforms to enhance their compliance measures significantly.

Orbital: Leading the Charge in Payment Solutions

Founded in 2017, Orbital has rapidly positioned itself as a key player in the payment ecosystem, with an emphasis on delivering secure and compliant payment solutions to enterprises globally. By offering a comprehensive platform that includes features like named virtual IBANs, stablecoin wallets, and the ability to manage various currencies, Orbital aims to streamline cross-border transactions effectively. The firm operates with an impressive multi-jurisdictional licensing framework and adherence to international security standards, ensuring that it meets the complex regulatory environment.

With a solid foundation fortified by collaborations like the one with Sumsub, Orbital is well-poised for continued growth and innovation in the payment landscape. Stakeholders and clients can expect ongoing improvements in transaction security and customer service as Orbital implements these advanced transaction monitoring solutions.

For more detailed information on Orbital's services and how they can meet your payment processing needs, visit their official website at www.getorbital.com.