Case Study: Chime cuts peer-to-peer dispute losses with Incode

Chime cuts peer-to-peer dispute losses 24% with Incode

The neobank Chime faced the challenge of verifying high-risk new applicants and preventing fraud during peer-to-peer payments without blocking legitimate customers. To solve this, they implemented Incode's Identity Verification and Authentication products to add a layered, step-up check for their riskiest cases.

Incode's solution provided a multi-faceted identity check, including document verification, biometric liveness detection, and on-device age estimation. This integration resulted in a 24% reduction in peer-to-peer dispute losses for Chime, saving them an estimated $634,000 annually.

Chime