Case Study: MoneyGram achieves faster onboarding, KYC compliance and major fraud reduction with Mitek Systems' Mobile Verify

MoneyGram® uses Mobile Verify® to achieve compliance, reduce fraud, and onboard verified customers online quickly

MoneyGram, a global money-transfer provider serving customers in 200 countries and roughly 350,000 locations, needed a digital identity-verification solution that would let people send money online quickly while meeting KYC requirements and reducing fraud — all without adding customer friction.

MoneyGram integrated Mitek’s Mobile Verify to expand ID coverage and acceptance, outsource manual review, and scale reliably. The solution sped onboarding and enabled near-immediate transfers while improving compliance and margins: 70% more ID types covered, 30% higher ID acceptance rates, a 20% reduction in fraud losses and an 80% drop in account-takeover fraud.

MoneyGram

Nash Ali

Head of Risk and Payments