TELUS Digital and Sumsub: A Partnership Pioneering the Future of Digital Trust and Security

In an era where digital identity fraud costs businesses an average of $300,000 per incident—a figure rising rapidly due to AI-powered scams—the collaboration between TELUS Digital and Sumsub is not just a partnership but a lifeline for industries grappling with compliance, security, and customer trust. Their expanded 2025 partnership, building on a 2024 foundation, is a masterstroke in addressing the escalating need for robust identity verification and fraud prevention. Let’s dissect why this union is a strategic win for investors in the cybersecurity and fintech sectors.

The Problem: A Fraud Pandemic

The stakes have never been higher. According to Sumsub’s 2024 Identity Fraud Report, global fraud incidents surged by 67% year-over-year, with deepfake-related attempts quadrupling between 2023 and 2024. Meanwhile, the Association of Certified Fraud Examiners (ACFE) reports that large firms lost a median of $200,000 annually to internal fraud—a figure that grows when external threats like synthetic identities or forged documents are included. For industries like banking and telecom, compliance failures now carry penalties exceeding $20 million per violation under new global regulations like the EU’s PSD2 and the U.S. Protecting Consumers from Payment Scams Act.

The Solution: TELUS and Sumsub’s Integrated Playbook

This partnership isn’t about incremental upgrades—it’s a full-stack overhaul of trust and safety infrastructure. Here’s how they’re stacking the odds in their favor:

1. AI-Driven Verification at Lightning Speed

Sumsub’s tools—real-time document OCR, biometric authentication, and liveness detection—are now fully integrated into TELUS’s platform. For clients, this means KYC and KYB processes that once took days can now be completed in minutes. The result? Lower operational costs and faster customer onboarding—a critical edge in competitive markets.

2. Compliance as a Seamless Service

Automated checks against global sanctions lists and AML databases mean businesses no longer need to hire armies of legal experts. TELUS’s clients gain GDPR compliance in Europe, adherence to Canada’s Pan-Canadian Trust Framework, and alignment with the UK’s October 2024 APP fraud rules, all via a single platform.

3. Fraud Detection That Outsmarts AI Itself

With deepfakes and synthetic identities proliferating, Sumsub’s systems use behavioral biometrics and geolocation analytics to flag anomalies. This isn’t just about stopping fraud—it’s about reducing false positives, which can alienate legitimate customers and erode trust.

4. Scalability for Global Giants

TELUS’s 78,000 global team members and Sumsub’s API-driven integration ensure enterprises can plug these tools into existing workflows without disruption. For investors, this means the partnership can scale across industries and geographies with minimal friction.

Why This Matters for Investors

The cybersecurity market is projected to hit $401 billion by 2028, with identity and access management (IAM) solutions driving a 14% CAGR. TELUS’s strategic move here positions it as a one-stop-shop for enterprises desperate to mitigate risk while meeting regulatory demands.

Consider the numbers:
- Sumsub’s reusable digital identity product cuts redundant KYC checks, saving businesses hours of operational time and reducing costs by up to 30%.
- TELUS’s Fuel iX™ platform—bolstered by Sumsub’s tools—offers a competitive edge in the AI governance space, a segment expected to grow to $25 billion by 2030.
- The partnership directly addresses a $12 billion global identity verification market, now accelerating due to regulatory crackdowns.

Risks and Considerations

No investment is risk-free. While TELUS’s partnership is a clear differentiator, challenges loom:
- Regulatory Overreach: Stricter laws could force costly updates to their platforms.
- Technological Arms Race: Competitors like ForgeRock (FORG) or Auth0 (acquired by Okta) may innovate faster.
- Adoption Hurdles: Legacy systems in industries like banking might slow uptake.

Yet, TELUS’s track record—30% revenue growth in digital services over the past two years—suggests it can navigate these hurdles.

Conclusion: A Stake in the Future of Trust

The TELUS-Sumsub partnership isn’t just about solving today’s fraud problem—it’s about owning the infrastructure of digital trust for decades. With $300 billion in annual fraud losses globally and regulations tightening, this duo is positioned to capture a lion’s share of the market.

For investors, the calculus is clear:
- Growth: TELUS’s digital segment is a high-margin, high-demand business.
- Scalability: Their combined tools serve industries from finance to telecom, ensuring diversified revenue streams.
- Regulatory Tailwinds: Compliance costs are only rising—making their solutions a necessity, not a luxury.

In a world where 90% of enterprises now prioritize identity verification as a top IT investment (per Gartner), TELUS and Sumsub are not just players—they’re pioneers. This is a buy signal for portfolios seeking exposure to the unstoppable rise of digital security.

Data Note: All figures sourced from Sumsub’s 2024 Identity Fraud Report, ACFE’s 2024 Report to the Nations, and TELUS Digital’s 2023 Annual Report.