Case Study: Countingup achieves instant KYC and 5-minute account opening with Mitek Systems

How can a challenger bank conduct KYC checks and onboard customers in a compliant and scalable way

Countingup is a fast‑growing challenger bank for small and medium businesses that combines a current account with built‑in accounting tools. It faced a common fintech challenge: incumbent banks often take weeks or even months to open business accounts because of slow, manual KYC and document‑review processes.

Using Mitek’s agile verification platform and API, Countingup runs database identity checks in under a second, validates ID documents in about 20 seconds, and cross‑references proof‑of‑address, PEPs and sanctions checks in real time. The result is compliant, scalable onboarding — accounts can be opened in as little as five minutes, delivering the speed and efficiency needed to serve customers reliably.

Countingup

Tim Fouracre

Chief Executive Officer