How innovative banks can achieve 261% ROI with digital identity
To increase revenue and market growth, innovative banks rely on three key things. Minimizing friction at onboarding, reducing fraud, and improving customer conversions.
In this Total Economic Impact™ study, Forrester Consulting quantified the real business benefits delivered by Onfido’s identity solution.
Download now to get the findings and see how you could achieve:
26% increase in customer conversion
27% increase in fraudulent accounts detected
30% decrease in time spent onboarding
Why Onfido for innovative banks?
Chipper Cash
95% automation rate when verifying customers
KOHO
15% more users verified and onboarded
First Bank
80% faster to onboard new customers
How does it work?
Users simply take a photo of their ID and snap a selfie. Onfido then digitally proves a user’s real identity using artificial intelligence (AI), by verifying that photo ID is genuine and comparing it to the person’s facial biometrics.
Leverage a customizable platform to fine tune the balance between security and convenience to meet your risk thresholds.
Get comprehensive identity verification checks to stop fraudsters and keep your company and revenue safe.
Stay compliant with KYC and AML without overwhelming your manual review staff and increasing your operational costs.