Case Study: Signature Federal Credit Union reduces fraud and streamlines onboarding with ID-Pal

Signature Federal Credit Union cuts member vetting from up to 2 days with ID-Pal

Signature Federal Credit Union faced significant challenges with its manual identity verification process for new member onboarding. This entirely manual approach, which involved reviewing ID documents and cross-checking information through external sources, created delays of up to two days. These bottlenecks meant the credit union felt it was losing business, as applicants had to become members before applying for loans. The process also left room for fraud, creating friction for genuine applicants and requiring a way to tighten controls without increasing wait times or headcount.

The credit union implemented ID-Pal to automate and streamline identity verification at the very beginning of its onboarding process. The solution from ID-Pal strengthened fraud prevention, with many suspicious applicants abandoning the process once asked to verify their identity. This helped Signature FCU mitigate fraud while allowing legitimate members to move through onboarding much faster. The platform also became a vital tool across different departments, leading to major operational improvements. The team at ID-Pal was highlighted for its responsive customer service, which was a major factor in the partnership's success.

Signature Federal Credit Union