FOMO Pay, the Singapore-based payment institution, has brought in Sumsub, a provider of AI-driven trust infrastructure for compliance teams, to reinforce its onboarding and monitoring controls as it grows across several regions where regulatory expectations differ sharply.
Under the agreement, Sumsub’s technology will sit within FOMO Pay’s existing systems and add tools covering identity checks, business verification and transaction monitoring. The aim is to help the payments firm keep up with shifting rules and operational demands in each market it serves.
The timing reflects a sharper threat landscape. According to Sumsub’s Identity Fraud Report 2025-26, sophisticated multi-stage attacks using AI climbed 180% worldwide in 2025.
The Middle East saw the steepest regional increase in fraud at 19.8%, with APAC close behind at 16.4%. Deepfakes are a growing problem in Asia in particular, with cases up 158% in Singapore and 147% in Hong Kong over the year. Combined with local regulatory obligations, these trends underline why FOMO Pay needs a compliance setup that scales and connects across its operations.
FOMO Pay deploys Sumsub’s modular, API-led platform as a supplementary layer, refining workflows for different customer groups and jurisdictions. Sumsub recognises over 14,000 types of identity document issued in more than 220 countries and territories. Its in-house liveness detection adds further protection and can catch as many as 99.98% of deepfake attempts in one scan.
The platform also handles business and ownership verification alongside AML screening during onboarding. After customers are signed up, FOMO Pay applies Sumsub’s transaction monitoring to scrutinise account activity and payments for signs of risk, giving the company coverage across the full customer lifecycle.
FOMO Pay currently operates in Southeast Asia, the Greater Bay Area and the Middle East and North Africa. Going forward, it plans to keep building out its digital financial infrastructure across global payments, global business accounts and digital assets, while assessing how AI and automation could be applied more widely across its offering.
FOMO Pay director of business development Leona Gan said, “As financial services become increasingly interconnected across markets, businesses need technology and compliance infrastructure that can evolve alongside their operations. At FOMO Pay, we continuously develop our processes and technology to support our expanding footprint and changing regulatory requirements.” She added, “Our partnership with Sumsub adds further capabilities to our verification and compliance workflows, complementing the broader infrastructure we have in place as we scale across markets.”
Sumsub vice president, APAC Penny Chai said, “Payments and digital assets are converging, and customers increasingly move between services, platforms, and markets. For highly regulated sectors like financial services, trust and compliance must keep pace with these developments.” She added, “Our partnership with FOMO Pay reflects the growing need for scalable compliance operations, enabled by trust infrastructure that can adapt to evolving regulations and emerging fraud risks as financial services become more interconnected.”
Copyright © 2026 RegTech Analyst
Copyright © 2026 RegTech Analyst
