Case Study: Metro Finance reduces fraud and speeds loan verification with IDVerse

Non-bank lender significantly reduces fraud with IDVerse technology

a non-bank lender specializing in auto and equipment loans, Metro Finance, faced challenges with inconsistent and potentially insecure identity verification processes from its network of brokers. They needed a standardized, digital solution to prevent fraud, accelerate customer onboarding, and reduce operational overheads. To address this, they implemented the identity verification technology from IDVerse.

By integrating IDVerse's solution, which uses AI for document and biometric verification, Metro Finance streamlined its process. The results were significant: verification time dropped to under one minute, overall loan processing was reduced by at least five minutes per application, and the company achieved an estimated $500,000 in annual fraud savings. IDVerse provided the reassurance needed to prevent fraudulent loans and scale the business efficiently.

Metro Finance

Damir Prasovic

Head of Risk and Compliance