Case Study: Selma Finance achieves minutes-fast, fully digital onboarding with IDnow VideoIdent

Selma Finance - Customer Case Study

Selma Finance is a Swiss–Finnish fintech startup bringing personalized investment banking to millennials, but their fully digital service was hamstrung by an offline onboarding process that required printing, mailing and in-person ID checks at post offices—a two‑week (sometimes two‑and‑a‑half‑week), 30‑page ordeal that caused drop‑offs and conflicted with their user experience goals. To solve this bottleneck, Selma chose IDnow and its VideoIdent solution to verify users’ identities online.

IDnow implemented VideoIdent (tested in September and rolled out in December 2018), using short video chats plus AI biometric and security‑feature checks compliant with Swiss and EU rules. The result: onboarding time fell from roughly two weeks/two and a half weeks to about seven minutes, enabling fully digital, same‑day account opening, stronger millennial trust, faster weekly user growth and scalable onboarding for Selma Finance.

Selma Finance

Kevin Linser

Co-Founder