Case Study: Moneyfarm slashes identity verification from days to minutes with Onfido

MoneyFarm - Customer Case Study

MoneyFarm, a regulated digital wealth manager, faced long onboarding delays driven by legacy verification systems in Italy and the UK: identity and AML/KYC checks could take 3–10 days and the full account setup up to four weeks, risking customer drop-off. To speed onboarding while meeting regulatory requirements, MoneyFarm partnered with Onfido and adopted a tiered approach using Onfido’s Document and Biometric checks.

Onfido automated identity verification through its checks and integration tools, targeting a 70/30 automation split, and delivered dramatic results: verification time fell from 6.5 days to about 5.8 minutes (a 99.94% reduction), full account setup shrank from ~3 weeks to 4 days, operations saved roughly 2 hours per day, and Onfido achieved a 70.48% first‑time pass rate with plans to push toward 80% automation. Onfido’s solution thus improved customer experience, reduced manual review workload, and accelerated MoneyFarm’s path to scale.

MoneyFarm

Ross Godlonton

Head of Product