Verify, Griffin’s customer onboarding solution, now comes pre-integrated with Veriff’s ID&V (Identity & Verification) technology, allowing fintechs to carry out biometric checks and onboard new users quickly and securely.

This integration means that fintechs using Griffin’s onboarding solution can:

• Perform ID&V checks quickly and easily
• Automate documentation review processes
• Reduce friction in the onboarding process
• Improve user experience and customer conversion rates

Addressing the rising challenge of identity fraud

Identity verification is a critical component of the customer onboarding process, especially with identity fraud on the rise. In 2022 alone, identity fraud made up 68% of fraud cases, highlighting the difficulty organisations face in authenticating customers online. With new technologies enabling deepfakes and synthetic identity fraud, these cases are becoming even harder to detect.

To combat identity fraud, most companies rely on traditional methods of ID&V, but these have their drawbacks. Manual ID&V checks are error-prone and inefficient, which often lead to delays in onboarding and a poor experience for customers.

Traditional ID&V processes are also complicated and lengthy, which can lead to frustration, prompting potential customers to seek out competitors that offer a more seamless onboarding experience.

Providing a smooth end-to-end experience for customers

This is why we are thrilled to partner with Veriff, an industry-leading identity verification platform, to bring best-in-class ID&V to our customers. With Veriff's AI-powered ID&V solution, our fintech customers can now onboard their own customers via our platform and get ID&V decisions quickly and securely.

Through our single API, customers can leverage the full suite of Veriff’s ID&V features along with other screening and verification checks. This centralisation eliminates the need for multiple software integrations to meet compliance obligations, simplifying the onboarding process.  This streamlined ID&V process ensures a straightforward and intuitive user journey, reducing user drop offs and improving conversion rates.

Building a complete onboarding solution for fintechs

Verify is our complete onboarding solution, enabling fintechs to run a comprehensive set of KYC/KYB checks on new customers via a single product. Verify pre-integrates  with industry-leading data providers, and now our partnership with Veriff means that we can offer a world-class, out-of-the-box ID&V solution as part of the package.

Verify gives fintech companies confidence that they are onboarding the right customers with minimal friction, without compromising on robust KYC/KYB. This also makes it easier for customers to get access to Griffin’s banking products, as our end-to-end onboarding flows come with all the right checks pre-configured and ready to go.

As always, our goal is to do the heavy lifting on compliance and banking infrastructure so that our customers can focus on building great products and growing their businesses.