Case Study: Madeformed simplifies banking authentication with Memo Bank

Madeformed uses 2FA to validate its banking operations and no longer needs a calculator

MadeForMed, a platform for family doctors to centralize patient interactions, was frustrated with the time-consuming and error-prone authentication process for banking transactions at their traditional bank. Their CEO, Thomas Plain, sought a more modern banking partner to overcome the inconvenience of using a physical "calculator" device for two-factor authentication. This led them to the vendor, Memo Bank.

Memo Bank implemented a simplified two-factor authentication process using a smartphone app. This allowed the CEO to approve sensitive operations like wire transfers instantly from his phone, eliminating the need for a separate device. As a result, making a transfer to a new beneficiary now takes four times less time with Memo Bank. The CEO also highlighted the value of having a dedicated, responsive relationship manager, contributing to overall satisfaction with the modernized banking experience.

Madeformed

Thomas Plain

Cofounder and CEO