Digital Wallet service provider

Success Story

To accelerate the onboarding process, the digital wallet service provider collaborated with TruSense.

Impact

Seamless Onboarding Process

Seamless Onboarding Process

15% reduction of the additional documentation

15% reduction of the additional documentation required for new customers

The Story

This company is a digital wallet provider where the user can save their money, make easy money transfers and send their money without incurring any additional costs among other things.

The Goal

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 amount of opportunities in the marketplace where businesses can grow and flourish without incurring losses due to fraudulent activities.

Solution

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 that is carrying out the enrolment process. This query is raised via API. If the score indicates that the client represents a high risk of impersonation, or it detects that number was ported, the company contacts the customer for additional identity validation methods, such as requesting their identity document and biometric validation. If the score indicates a favorable or low-risk level, and the number was not ported, the process continues digitally, and the customer is onboarded.

Risk Score Solution

Result

The onboarding process was accelerated without further enquiries after collaborating with TruSense to create a seamless process. The following findings were observed by the enterprise during the TruSense interaction.

Seamless Onboarding Process

Seamless Onboarding Process

15% reduction of the additional documentation required for new customers

15% reduction of the additional documentation required for new customers

Services Used

Services