To accelerate the onboarding process, the digital wallet service provider collaborated with TruSense.
Seamless Onboarding Process
USD 100K savings in SIM change validations during 2022
This company is a digital wallet provider where the user can, among other things, keep money, make transfers, and send money without any extra costs.
To provide a convenient and secure alternative to physical wallets.
This company needed complete visibility of its customers who wanted to use its services. It was difficult for the company to identify the risk involved with the credibility of its customers. The goal was to create ample opportunities in the marketplace where businesses could grow and flourish without incurring losses due to fraudulent activities.
Due to the recent increase in digital fraud, it was challenging for the company to differentiate between an actual customer and a fraudster. This was made possible and hassle-free with the help of TruScore.
The company raises a query to TruScore with information about the mobile number, carrying out the enrolment process. This query is raised via API. If the mobile number is on the temporary list, OTP SMS is cancelled, and an SMS with a security message is sent to the customer. If the mobile number is not on the temporary list, SIM Swap validation is requested from the operator. If the SIM card was changed, the customer receives an SMS with a security message. If the SIM card was not changed, the OTP is sent to the customer.
The onboarding process was accelerated without further enquiries after collaborating with TruSense to create a seamless process. Following findings were observed by the enterprise during the TruSense interaction.
Seamless Onboarding Process
USD 100K savings in SIM change validations during 2022
