Case Study: Ikano Bank achieves instantaneous, frictionless onboarding and reduced fraud with LexisNexis Risk Solutions' RiskNarrative

Optimizing onboarding due diligence and customer experience with the LexisNexis® RiskNarrative™ orchestration platform

Ikano Bank, the consumer finance arm serving IKEA customers in the UK, needed to balance fast, frictionless onboarding with robust fraud and financial crime controls. With hundreds of interest-free loan accounts opened daily across in-store and digital channels, the bank’s main challenges were preventing identity fraud, streamlining document verification, reducing false positives and customer delays, and using staff resources more efficiently.

Ikano implemented the LexisNexis RiskNarrative orchestration platform, integrating existing data with ID and document checks, address, email, mobile and sort-code matching, and internal and external fraud rules via a single API. The solution delivered instantaneous decisions, fewer false positives and high-quality referrals, allowed the bank to onboard more than 70,000 customers in the first year, and freed staff to focus on enterprise priorities while reducing fraud attempts.

Ikano Bank

Matthew Riches

Financial Crime Manager