Case Study: Moneyou achieves 96% first-time mortgage onboarding success with Signicat's ReadID

MoneYou achieves 96% first-time mortgage onboarding success with Signicat

MoneYou, a digital mortgage label under ABN AMRO, faced the challenge of securely verifying customer identities at the very beginning of its online mortgage application process. To become "best in class" and meet strict compliance standards, they needed a highly secure and easy-to-use digital solution that moved beyond traditional, in-person verification. They partnered with vendor Signicat and implemented its ReadID Ready product with NFC-based identity verification and face verification.

Signicat's solution enabled MoneYou to launch a fully automated, 24/7 digital onboarding process where customers verify their identity using an out-of-the-app NFC scan triggered by a QR code. This implementation by Signicat achieved a remarkably high first-time success rate of 96%, greatly exceeding expectations. The solution provided a higher level of confidence than previous methods, improved data quality by eliminating manual entry errors, and became the preferred process for both customers and Legal and Compliance.

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