Case Study: Vanquis Bank increases customer onboarding and reduces fraud with Mitek Systems

Vanquis Bank reduces document-check delays from weeks with Mitek

Vanquis Bank faced a challenge where existing customers experienced delays of several weeks when making account changes, like address updates, due to manual identity document checks. This process, while necessary for fraud prevention, was failing to meet modern customer expectations for speed. Vanquis Bank partnered with Mitek Systems to find a solution.

Mitek Systems implemented its digital identity verification solution, which automated the document check process. This allowed Vanquis Bank to significantly accelerate onboarding and account servicing while maintaining robust fraud reduction. The results included increased customer onboarding rates and an improved customer experience by eliminating lengthy delays.

Vanquis Bank