Introduction

Hundreds of financial institutions worldwide use our Client’s platform to launch their online banks and payment systems. Our Client needed to find a good ally — one with valuable expertise and advanced technological capabilities — to assist them in setting up user accounts faster while adhering to AML requirements.

The Challenge

Before the co-founder began considering options, many clients wanted Surepass as their identity verification solution. They chose Surepass after meeting one of the company’s founders at a business event. Surepass works with many different types of financial businesses and can navigate between varying levels of risk, which was one of the main advantages for our Client.

This includes approaching both large and small businesses — those that prioritise verification speed and accuracy and those that prioritise security and digitisation of AML compliance.

If the verification process takes longer than expected, the Client may believe that the entire platform is to blame, rather than just the verification provider. It was critical for our Client that the checks last as long as promised and that they could integrate them into a financial app. Furthermore, some of their clients had legitimate security concerns and required strong protection against fraudulent users.

The Solution

Our Client has been able to meet seven customers’ compliance and security needs since partnering with Surepass in 2021, improving the user experience for thousands. Surepass verification API assisted our Client and its customers in meeting their three primary goals: quick onboarding, strong anti-fraud, and multi-device compatibility.

Greater conversion rates through quick onboarding
Surepass ensured that KYC checks take less than a minute, and KYB checks take only a few hours rather than days. From the end user’s perspective, this has made verification more user-friendly, effortless, and convenient.

Blindspot-free security against financial crime
Surepass used biometric checks, suspicious chargeback detection, and global database cross-referencing to help prevent any potential fraud because our Client’s larger financial clients were concerned about vulnerability.

Effective performance across devices
Our Client’s platform is primarily used for developing payment or banking apps, so they required a solution that could support both mobile and desktop device options. Surepass can be used on any device, easily meeting this requirement.

The Results

Surepass contributed to the platform’s growth by bringing unique expertise to the table. There is no longer any stress from the constant search for separate solutions, which are frequently untrustworthy. Our Client has created an ideal environment for developing new financial products and achieving growth by combining Surepass’s expert perspective on compliance and conversion-boosting technology.