LibraryblogHow neobanks can thrive using IDV

How neobanks can thrive using IDV

Neobanks must achieve legal compliance, onboard customers, and overcome the threat of bad actors. Identity verification (IDV) enables neobanks to meet these goals and make other gains, such as a notable ROI.

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Chris Hooper
Director of Content at
February 21, 2023
Blog Post
Identity Verification
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Why Veriff

In a sector ripe with competition, legal, financial, and reputational risks, and discerning customers, neobanks must ensure their processes are optimized to stay ahead. To prevent any potential issues and satisfy customers, identity verification (IDV) offers a potent solution for today's neobanks.

Fast decisions

A 98% check automation rate gets customers through in about 6 seconds.

Simple experience

Real-time end user feedback and fewer steps gets 95% of users through on the first try.

Document coverage

An unmatched 11K+, and growing, government-issued IDs are covered.

More conversions

Up to 30% more customer conversions with superior accuracy and user experience.

Better fraud detection

Veriff’s data-driven fraud detection is consistent, auditable, and reliably detects fraudulent forms of identification.

Scalability embedded

Veriff’s POA can grow with your company’s needs and keep up with times of increased user demand.

Find out more

Discover how Veriff is helping financial services firms to onboard more customers, achieve compliance, and prevent fraud.