Case Study: Current achieves higher KYC first-time acceptance and reduced compliance costs with Lob Address Verification

Current Reduces Compliance Spend While Improving Their Customer Experience

Current is a modern banking solution serving families and teens that has grown rapidly since its 2017 debut, now managing over 500,000 accounts. Facing the heavy regulatory burden of Know Your Customer (KYC) checks — which add cost and customer-facing friction to onboarding — Current turned to Lob, implementing the Lob Address Verification API to catch address entry mistakes before they reach their KYC flow.

Using Lob’s Address Verification API to suggest deliverable addresses and validate inputs, Current reduced erroneous address entries, hit target acceptance rates, and increased KYC first-time acceptance rates. By front-loading address validation with Lob, Current both improves the customer experience and lowers KYC costs, building trust with new users while streamlining compliance.

Current

Trevor Marshall

CTO