Hype is transforming onboarding efficiency with Onfido

Background:

Hype, Italy's leading neobank specializing in mobile money management within the Fintech sector, boasts a customer base of over 1.8 million clients. With a mission to simplify traditional banking complexities and foster innovative financial experiences, Hype has positioned itself as a point of reference for modern payment and banking solutions.

The challenge:

Hype needed to expedite the onboarding process, specifically in the ID verification step without compromising data security and reliability. Despite having a native solution known for its anti-fraud capabilities, its former process was labor-intensive. Hype wanted a more scalable and efficient solution to enhance the user experience and streamline the onboarding workflow.

The solution:

After exploring various options, Hype selected Onfido as their preferred identity verification solution. Onfido offered a superior user experience, flexibility, and seamless integration capabilities. The solution quickly integrated into Hype's verification matrix, consisting of over 350 rules. This integration allowed for faster processing of both positive and negative onboarding cases, contributing to an improved overall workflow.

The results:

The strategic collaboration between Hype and Onfido yielded transformative outcomes, providing key benefits that propelled Hype's growth and user trust, including:

• Increase conversion rate: The solution resulted in a double-digit increase in Hype's conversion rate.
• Onboarding efficiency: The average time for completing the onboarding process significantly decreased.
• Fraud reduction: Onfido contributed to notable improvements in fraud detection rates and conversion.

Looking ahead, Hype plans to continue improving conversion rates and maintaining a vigilant stance on anti-fraud measures with Onfido identity verification playing a key role in delivering fast, secure, and efficient onboarding experiences. Now, Hype is able to verify a document in less than 5 minutes, streamlining the onboarding process and contributing to the neobank's business growth.