Leading Fintech saves around US$ 4M with Caf’s Automated ID Document Verification Solution

Fintechs are obliged to conduct Know Your Customer (KYC) checks to verify users in compliance with the prevailing regulations. A leading fintech leveraged the power of Caf’s matchless ID Document Verification solution to streamline its KYC process, identify over 3,500 fraudulent documents and prevent losses worth around US$ 4M (21M BRL).

The company was facing difficulty in establishing an onboarding flow that would block fraudulent users without adding friction for genuine users and maintaining the democratic set-up of the platform.

The fintech approached Caf looking for a cost-efficient solution that would help detect forged and fake documents to stop registration abuse.

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