Onfido logo home page
Watch a demo
Get in touch

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

Chipper Cash

95% automation rate when verifying customers

KOHO

KOHO

15% more users verified and onboarded

First Bank

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.

Ready to read the study?

Read now
Onfido

Our solutions

Onfido uses 256-bit SSL encryption 100% of the time on every device.

BSI ISO/IEC27001

Onfido has been certified by BSI to ISO 27001 under certificate number IS 660122.

© Onfido™, 2021. All rights reserved.
Company Registration Number: 07479524.