Case Study: myPOS doubles auto-approvals and lifts KYC match rates with GBG

myPOS doubles customer auto-approvals with IDology across 35+ countries

myPOS, a European fintech providing payment solutions to small and medium-sized businesses, faced significant challenges with its international KYC processes. Variations in data quality and inflexible matching algorithms were causing low match rates, leading to a majority of applications requiring manual review. This resulted in lower conversion rates, higher wait times, and hindered the company's growth. To solve this, myPOS partnered with vendor IDology.

IDology provided a solution that involved refining identity data quality and utilizing its location intelligence service, GBG Loqate, for accurate address verification. The vendor's team worked proactively to improve the data submitted and adjust matching criteria. As a result, myPOS saw customer match rates increase by 25 percentage points in its top markets and its customer auto-approval rate more than doubled across its 35+ countries. This dramatically accelerated onboarding, reduced manual checks, and supported the company's growth objectives.

myPOS