The collaboration introduces a streamlined Penny Drop Verification flow that leverages Volt’s Payment Initiation Services (PIS) and Account Information Services (AIS) across European markets. The new verification process builds upon Sumsub’s recent efforts to streamline KYC verification, directing users to their banking application after scanning identity documents. Users make a 1-cent payment through Volt’s hosted checkout, which is immediately returned, while Volt’s Matchmeter AIS solution verifies the payment data against the user’s identity documents. The integration supports Qualified Electronic Signatures (QES), which carry the same legal weight as handwritten signatures in the EU – a particularly important feature in markets like Germany where QES is standard for verification procedures.  

Source: https://idtechwire.com/open-banking-powers-new-sumsub-volt-digital-id-verification-system/