MetaQuotes Taps Sum&Substance to Automate KYC for MT5 Brokers
- The whole process is implemented directly inside the terminal so that the users won’t need to leave the MT5 interface.

MetaQuotes Software Corp., developer of the most widely used FX trading platforms, has integrated Sum&Substance KYC service, an AI-based ecosystem, which allows MT5 brokers to meet relevant regulatory requirements.
The Sumsub KYC check takes on average around two minutes, form and document submission to account verification, said MetaQuotes. The whole process is implemented directly inside the MetaTrader so that the terminal users won’t need to leave the familiar interface and interrupt the onboarding procedures.
Before opening his account, the KYC system will prompt the user to fill a registration form and uploading the documents. All the pegged documents will be scanned automatically where the system recognizes the information from the image on its own and checks the documents for validity. It also confirms that the user performing the registration is the same person in the document then forwards everything to the KYC provider's system to confirm or reject status based on the whole check results.
Sumsub says the new functionality provides further Automation Automation Automation is defined as the procedure of making an apparatus, a process, or a system to operate by mechanical or electronic devices that replace human labor. Additionally, automation is also sometimes referred to as mechanization or robotization. For example, employees have many costly needs, including government regulations. However, robotic workers don’t need much other than some routine maintenance and the occasional bug fix for an equipment malfunction or software bug. There is no overtime and no holidays. Many employers are purchasing robots to take the place of many of their employees that do repetitive or programmable activities. Robotic worked offers high rates of productivity and no need to worry about human resources regulations. Robots are a worthwhile investment. Automation in FinanceIn finance, automation is the use of software and computers to automate essential finance-related tasks. Financial businesses have adopted and promoted the use of new artificial intelligence (AI) technologies. In the early days, AI focused on labor arbitrage and shared services, but fintech soon recognized that process standardization was easily adaptable and could increase their efficiencies. In no time, computer savvy investors and brokers began developing and implementing automated trading systems and market scanners. These automated trading systems are programs that allow investors to set rules for entering and exiting trades. Traders and investors can turn exact entry, exit, and money management rules into automated trading systems that enable computers to perform and monitor transactions. Once those rules are programmed, a computer can automatically process and open trades based on the limitations built into the program. Automation is defined as the procedure of making an apparatus, a process, or a system to operate by mechanical or electronic devices that replace human labor. Additionally, automation is also sometimes referred to as mechanization or robotization. For example, employees have many costly needs, including government regulations. However, robotic workers don’t need much other than some routine maintenance and the occasional bug fix for an equipment malfunction or software bug. There is no overtime and no holidays. Many employers are purchasing robots to take the place of many of their employees that do repetitive or programmable activities. Robotic worked offers high rates of productivity and no need to worry about human resources regulations. Robots are a worthwhile investment. Automation in FinanceIn finance, automation is the use of software and computers to automate essential finance-related tasks. Financial businesses have adopted and promoted the use of new artificial intelligence (AI) technologies. In the early days, AI focused on labor arbitrage and shared services, but fintech soon recognized that process standardization was easily adaptable and could increase their efficiencies. In no time, computer savvy investors and brokers began developing and implementing automated trading systems and market scanners. These automated trading systems are programs that allow investors to set rules for entering and exiting trades. Traders and investors can turn exact entry, exit, and money management rules into automated trading systems that enable computers to perform and monitor transactions. Once those rules are programmed, a computer can automatically process and open trades based on the limitations built into the program. Read this Term for MetaTrader 5 brokers, as well as the necessary infrastructure for secure data storage and being compliant with data privacy (GDPR) requirements. The solution also minimizes manual operations as all data and applications are sent through encrypted channels.
More brokers are actively switching to MT5
Founded in 2015, Sum&Substance’s SaaS KYC/AML solution automates the ID verification process and ensures KYC/AML compliance as well as personal data security.
More brokers are actively switching to MT5, which expands demand for offering and complementing the platform’s features. As such, the Russian software company was keen to satisfy this demand by further pushing the deployment of the platform and its infrastructure, allowing brokers to streamline their operations and empowering them to focus their resources on growth.
MetaQuotes Software Corp., developer of the most widely used FX trading platforms, has integrated Sum&Substance KYC service, an AI-based ecosystem, which allows MT5 brokers to meet relevant regulatory requirements.
The Sumsub KYC check takes on average around two minutes, form and document submission to account verification, said MetaQuotes. The whole process is implemented directly inside the MetaTrader so that the terminal users won’t need to leave the familiar interface and interrupt the onboarding procedures.
Before opening his account, the KYC system will prompt the user to fill a registration form and uploading the documents. All the pegged documents will be scanned automatically where the system recognizes the information from the image on its own and checks the documents for validity. It also confirms that the user performing the registration is the same person in the document then forwards everything to the KYC provider's system to confirm or reject status based on the whole check results.
Sumsub says the new functionality provides further Automation Automation Automation is defined as the procedure of making an apparatus, a process, or a system to operate by mechanical or electronic devices that replace human labor. Additionally, automation is also sometimes referred to as mechanization or robotization. For example, employees have many costly needs, including government regulations. However, robotic workers don’t need much other than some routine maintenance and the occasional bug fix for an equipment malfunction or software bug. There is no overtime and no holidays. Many employers are purchasing robots to take the place of many of their employees that do repetitive or programmable activities. Robotic worked offers high rates of productivity and no need to worry about human resources regulations. Robots are a worthwhile investment. Automation in FinanceIn finance, automation is the use of software and computers to automate essential finance-related tasks. Financial businesses have adopted and promoted the use of new artificial intelligence (AI) technologies. In the early days, AI focused on labor arbitrage and shared services, but fintech soon recognized that process standardization was easily adaptable and could increase their efficiencies. In no time, computer savvy investors and brokers began developing and implementing automated trading systems and market scanners. These automated trading systems are programs that allow investors to set rules for entering and exiting trades. Traders and investors can turn exact entry, exit, and money management rules into automated trading systems that enable computers to perform and monitor transactions. Once those rules are programmed, a computer can automatically process and open trades based on the limitations built into the program. Automation is defined as the procedure of making an apparatus, a process, or a system to operate by mechanical or electronic devices that replace human labor. Additionally, automation is also sometimes referred to as mechanization or robotization. For example, employees have many costly needs, including government regulations. However, robotic workers don’t need much other than some routine maintenance and the occasional bug fix for an equipment malfunction or software bug. There is no overtime and no holidays. Many employers are purchasing robots to take the place of many of their employees that do repetitive or programmable activities. Robotic worked offers high rates of productivity and no need to worry about human resources regulations. Robots are a worthwhile investment. Automation in FinanceIn finance, automation is the use of software and computers to automate essential finance-related tasks. Financial businesses have adopted and promoted the use of new artificial intelligence (AI) technologies. In the early days, AI focused on labor arbitrage and shared services, but fintech soon recognized that process standardization was easily adaptable and could increase their efficiencies. In no time, computer savvy investors and brokers began developing and implementing automated trading systems and market scanners. These automated trading systems are programs that allow investors to set rules for entering and exiting trades. Traders and investors can turn exact entry, exit, and money management rules into automated trading systems that enable computers to perform and monitor transactions. Once those rules are programmed, a computer can automatically process and open trades based on the limitations built into the program. Read this Term for MetaTrader 5 brokers, as well as the necessary infrastructure for secure data storage and being compliant with data privacy (GDPR) requirements. The solution also minimizes manual operations as all data and applications are sent through encrypted channels.
More brokers are actively switching to MT5
Founded in 2015, Sum&Substance’s SaaS KYC/AML solution automates the ID verification process and ensures KYC/AML compliance as well as personal data security.
More brokers are actively switching to MT5, which expands demand for offering and complementing the platform’s features. As such, the Russian software company was keen to satisfy this demand by further pushing the deployment of the platform and its infrastructure, allowing brokers to streamline their operations and empowering them to focus their resources on growth.