Next Generation NGPES selects Sumsub to provide advanced protection services
09 July 2025 UK
Image: igor.nazlo/stock.adobe.com
Sumsub has been selected by Next Generation Payment Ecosystem (NGPES), a fintech platform based in France, to provide advanced fraud protection, identity verification and anti-money laundering (AML) regulation compliance as it launches a payment ecosystem, including an euro-backed stablecoin.
NGPES is designed to bridge traditional finance (TradFi) and digital assets within a unified solution, the firm says. This will encompass everything from digital asset custody and settlements to regulatory compliance, as well as integrating international bank account number (IBAN) transactions into a digital wallet for near-instant financial transactions.
Sumsub’s verification solutions, which combine traditional know your customer (KYC) checks with liveness detection, transaction monitoring, and other fraud prevention capabilities, will ensure the platform will deliver security and compliance.
“We’re thrilled to be selected by Next Generation as its verification and anti-fraud partner. Payments, particularly when it involves cryptocurrency, is a sector increasingly targeted by fraudsters, who themselves are becoming more numerous and better organised”, says Ilya Brovin, CGO at Sumsub.
She adds: “Whether by forged documents or AI-generated videos, new tech — particularly AI — is making fraud more sophisticated, and so innovative companies like Next Generation need partners who can keep up with the fraudsters. This must mean full-cycle, AI-augmented fraud detection and verification — as our data shows over three-quarters of fraud happens after initial KYC checks.”
Frank Cambay, chief operating officer of Next Generation NGPES, says: "We are entering the market with a commitment to leveraging cutting-edge technology across all aspects of our operations. The digital asset service provider registration and the trust of our investors come with strict compliance obligations, making KYC/AML and fraud prevention critical.
“We’re thrilled to partner with Sumsub in this key area of development. Their deep expertise in digital assets, proven track record across numerous projects, and global reach make them the ideal partner to help us scale new heights."
NGPES is designed to bridge traditional finance (TradFi) and digital assets within a unified solution, the firm says. This will encompass everything from digital asset custody and settlements to regulatory compliance, as well as integrating international bank account number (IBAN) transactions into a digital wallet for near-instant financial transactions.
Sumsub’s verification solutions, which combine traditional know your customer (KYC) checks with liveness detection, transaction monitoring, and other fraud prevention capabilities, will ensure the platform will deliver security and compliance.
“We’re thrilled to be selected by Next Generation as its verification and anti-fraud partner. Payments, particularly when it involves cryptocurrency, is a sector increasingly targeted by fraudsters, who themselves are becoming more numerous and better organised”, says Ilya Brovin, CGO at Sumsub.
She adds: “Whether by forged documents or AI-generated videos, new tech — particularly AI — is making fraud more sophisticated, and so innovative companies like Next Generation need partners who can keep up with the fraudsters. This must mean full-cycle, AI-augmented fraud detection and verification — as our data shows over three-quarters of fraud happens after initial KYC checks.”
Frank Cambay, chief operating officer of Next Generation NGPES, says: "We are entering the market with a commitment to leveraging cutting-edge technology across all aspects of our operations. The digital asset service provider registration and the trust of our investors come with strict compliance obligations, making KYC/AML and fraud prevention critical.
“We’re thrilled to partner with Sumsub in this key area of development. Their deep expertise in digital assets, proven track record across numerous projects, and global reach make them the ideal partner to help us scale new heights."
NO FEE, NO RISK
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
