Case Study: Ibancar speeds up loan payouts and strengthens fraud prevention with Powens

Ibancar cuts fund transfer time from 24–48 hours to under 5 minutes with Powens

The customer, Ibancar, is a company that provides fast, online vehicle-collateral loans in Spain. Their challenge was preventing fraud by verifying customer identities and bank account ownership, a crucial step to ensure funds were sent to the correct person, without slowing down their rapid payout process which was key to their competitive advantage.

The vendor, Powens, addressed this by implementing its Account Check solution to validate identities against bank accounts and its Payouts solution for speedy fund transfers. As a result, Powens helped Ibancar dramatically reduce the payout time for loans from 24-48 hours down to under five minutes, while ensuring greater process integrity and security.

Ibancar