Case Study: a digital bank reduces onboarding friction with Incognia

Digital Bank reduces manual reviews by 18% with Incognia

A digital bank was facing significant friction and high drop-off rates during its mobile onboarding process. It relied on four different credit bureaus for identity verification, but 29% of applications still required a manual review, leading to a 70% application abandonment rate. To address this, the bank partnered with Incognia to implement its location behavioral biometrics solution to automate address verification and improve the user experience.

By integrating Incognia, the bank was able to automatically verify 81% of all new user addresses, with 65% approved instantaneously. This allowed the bank to reduce manual reviews by 18% and lower its overall onboarding operational costs by 11%. Incognia's solution also helped block 13,000 suspicious new accounts in real-time, enhancing security while creating a more frictionless onboarding process.

Digital Bank