Case Studies

Moneymatch - Case Study

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MoneyMatch partnered with Onfido for a truly digital, remote onboarding process. With Onfido's Document Verification and Video Liveness, MoneyMatch could guide customers through registration seamlessly without foregoing regulatory requirements. And with our SDK and comprehensive set-up guides, they could get production-ready in no time. The solution For MoneyMatch, it's in their DNA to build a "digital-first" service, allowing them to onboard a new breed of customers while at the same time providing a service that is scalable and affordable. But as a Financial Services provider offering a remittance platform for both consumers and businesses, MoneyMatch had to walk the tightrope between providing a frictionless experience for the end- user so that the business can grow, and proving to local regulators that they are operating in a way that is compliant. To satisfy local KYC requirements, MoneyMatch would host live video calls to verify their customers, which took as much as 15 minutes per call. Although compliant, this process cost MoneyMatch customers, as they would drop off in the queue, but it also cost MoneyMatch financially due to the huge operating overhead required to power their customer verification processes. For a digital-first businesses, manual processes were doing more harm than good. The challenge One of the only fully digital providers of regulated financial services in Malaysia, MoneyMatch are rethinking remittance, so that consumers and businesses alike can transfer with confidence. $8 due to cheaper, scalable identity verification saved in cost per verified user using Onfido, with the same Operators team increase in users verified per hour 10x case study

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