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LeasePlan Bank x Iquality Case Study

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Founded in 2010, LeasePlan Bank is building an online banking experience that competes with and exceeds the status quo set by branches. With their new approach to banking, LeasePlan Bank has to balance needs from user experience, through to regulation, through to making it all technically possible. Fundamentally, LeasePlan Bank is measured on growth of their customer base. They need a seamless registration that can compete with emerging digital challenger banks, where ease of use is as important as interest rates. Equally, LeasePlan Bank must remain compliant with local regulation. With AML and KYC coming under the microscope as financial services move online, the team knows they must onboard new users in a compliant way. Competing banks would routinely approach this with a journey to a physical bank branch. As a licensed entity under the European Central Bank, LeasePlan Bank wants to let the right customers in remotely, going above and beyond today's regulation. So how does an emerging online bank tackle technology, regulation, and UX to cut through the market? That's where Iquality and Onfido come in. The challenge How do we build a bank that's 100% online, but that feels like an in-person experience for our customers? That's the question that LeasePlan Bank has set out to answer. They're a branchless bank, operating solely through their LeasePlan Bank website and Savings app. By reducing internal costs associated with branches , they can offer their customers attractive savings interest. As part of their approach, LeasePlan Bank is pursuing the best-in-class in technology and UX. It's a mission shared by Onfido and LeasePlan Bank's core technology partner, Iquality. We've teamed up to power onboarding for LeasePlan Bank's online Savings experience. The partnership LeasePlan Bank is a branchless, digital savings bank founded in 2010 in the Netherlands. Available on website and mobile only, they're creating a new way to save that's fair and transparent. 6 mins underpinned by fast and accurate customer verification for a customer to open a new Savings account massively reducing the cost to verify a customer of internal verification processes automated 50% case study

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