Client spotlight

Fintech Platform Reduces Onboarding Fraud by 80%

SecureBank ยท Financial Technology

SecureBank partnered with IntegrityLens to combat a surge in onboarding fraud. By implementing a robust, multi-layered identity verification system, they dramatically reduced fraud, enhanced security, and improved the user experience.

  • Angular
  • NgRx
  • Node.js
  • AWS
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Challenge

A rapidly growing fintech platform was struggling with a high rate of fraudulent account openings, leading to significant financial losses and reputational damage.

Approach

  • Implemented a multi-layered identity verification process including document scanning, facial recognition with liveness detection, and real-time fraud checks.
  • Integrated with government and third-party databases to verify identity documents and check for known fraudsters.
  • Developed a risk-scoring engine to flag high-risk applications for manual review.

Outcomes

  • Reduced fraudulent account openings by 80% within three months.
  • Increased user trust and confidence in the platform.
  • Streamlined the onboarding process for legitimate users.

80%

reduction in fraudulent account openings.

50%

decrease in manual review time.

15pt

increase in customer satisfaction scores.