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Case Study | What prompted a banking client to shift to Digital Address Verification instead of conventional physical address verification?

Case Study

Leading Bank Transitions to Digital Address Verification

Leading Bank Transitions to Digital Address Verification - Case Study

About the Company

 A prominent leader in the banking industry delivering value and unwavering service to its diverse clientele.

Industry

Banking and Financial Services

Size

500-1000

Key Results

  • Quick, cost-effective, and contactless address verification
  • A fuss-free and simple onboarding journey led to a better candidate experience
  • Enhance candidate onboarding experience

Products and Solutions

Define the Problem

One of our clients from the banking sector initiated a verification request for their new employees; address verification was part of the scope. In light of COVID-19, we suggested them to adopt our Digital Address Verification to verify addresses in a contactless manner.

While the client was contemplating whether to adopt the solution or not, they asked us to conduct physical address verification in the interim for a candidate. The candidate refused to let our verifier enter their premise as it could become a possible health hazard to their family.

Comprehending the situation, our client immediately switched to Digital Address Verification.

How AuthBridge Helped

Implemented Digital Address Verification Solutions – Footprints Digital for contactless onboarding

Upon being given a green signal for digital address verification, we just needed one input from the client – the mobile number of the candidates. The addresses of candidates were then verified in three simple steps:

  • Auto population of candidate details through a form sent to the phone number of every candidate
  • Verification of details or addition of other details by the candidate along with a selfie, photo of an ID and live photo of the residence
  • Automated GPS coordinate tracking upon the submission of the form.

Conclusion

Our Digital Address Verification – Footprints proved to be a great technology to have in your digital toolkit during COVID 19. It even costed lesser than physical address verification and accelerated verification and onboarding of the employees.

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Case Study | How AuthBridge helped in reducing CAPEX related risk for a bike ride major in India

Case Study

Bike Sharing Rental Company Reduces CapEx Risk with AuthBridge

rental-company

About the Company

A major bike-sharing rental startup offering first and last-mile connectivity to metro users.

Industry

Transportation

Size

250-500

Key results

  • A faster onboarding process for users and employees
  • Reduction in drop out rates for users
  • Reduced CapEx related losses over a period
  • Better visibility over the entire onboarding process for our clients

Products and Solutions

Define the Problem

To make a place in the lives of customers, one of the first steps is to ensure seamless customer onboarding and provide uninterrupted access to its products/services. 

Our client, a bike-sharing rental startup, wanted to establish a verification and onboarding process to reduce damages to their vehicles and minimise the chances of them getting stolen. The process required to be as smooth as possible for the end users while reducing CAPEX related risks.

Also, they needed an onboarding process for their 3500+ fleet-on-street entrepreneurs responsible for maintaining bikes for our clients, providing emergency response to stranded users and working with them on a commission basis.

How AuthBridge Helped

For verification of users

Understanding the risk involved with onboarding a fraudulent customer, we realised that our client needed an end-to-end customer onboarding journey. We deployed our identity verification APIs built on top of technologies like OCR to complete the KYC process for our client’s users. The present address verification was also completed through physical site visits by our field staff.

For verification of fleet-on-street employees,

The onboarding process for employees was designed by us from scratch to give our client maximum cushioning against risks that might emerge from working with fraudulent employees.

We deployed the Identity Verification and Address Verification in the fashion of users. However, additional Criminal Record Verification was performed in the case of employees using our proprietary databases. We also performed a Bank Account Check using the PennyDrop method to ensure protection against financial threats.

The Auth Advantage

As an added measure, we suggested that our client lock down a minimum balance from the customer’s wallet against possible damage to vehicles. The suggestion was appreciated and implemented.

Conclusion

Our client reported a significant reduction in CapEX-related losses over a period. They also experienced a reduction in drop-out rates during the sign-up and onboarding process.

Contact Sales

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We’d love to show you how AuthBridge can help your business. Fill out the form and we’ll be in touch within 24 hours.

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The most noteworthy aspects of our collaboration has been the ability to seamlessly onboard partners from all corners of India, for which our TAT has been reduced from multiple weeks to a few hours now.

- Mr. Satyasiva Sundar Ruutray
Vice President, F&A Commercial,
Greenlam

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