Case Study: GOAT Finance achieves 97% customer onboarding within 2 minutes with iDenfy

How GOAT Finance improved its KYC compliance pro with iDenfy’s identity verification, boasting a 97% user acceptance rate in just 2 minutes on average during the customer onboarding process

GOAT Finance, a licensed cryptocurrency exchange handling at least €500,000 in monthly trading volume and offering P2P and OTC services, needed a dependable RegTech partner to automate KYC/KYB, AML checks and source-of-funds verification while integrating with its back-office and white‑label web and mobile apps. GOAT Finance sought a single, feature-rich provider to reduce manual work, speed onboarding and maintain compliance with evolving regulations — a need it met by engaging iDenfy’s KYC/KYB and AML services.

iDenfy implemented a multi-layered solution including facial recognition, document and proof-of-address verification, automated KYB company checks, and real-time screening/monitoring (PEP, adverse media and sanctions), fully integrated into GOAT Finance’s systems. The deployment eliminated manual intervention in large part, cut compliance specialists’ manual work by 77%, and enabled GOAT Finance to onboard 97% of users in an average of 2 minutes while strengthening AML compliance and scalability.

GOAT Finance

Paul Andres Padilla

CEO