Case Study: Large Latin American Bank achieves 70% lower fraud rates with Sovos Trust Services

Large Latin American Bank Undergoes Digital Transformation, Reducing Fraud Rate by 70%

A large Latin American bank was struggling to modernize onboarding and transaction processes while keeping pace with fraud risks and strict regulatory requirements in Chile and Mexico. The manual workflows slowed customer activations and created friction across branch and digital channels, so the bank turned to Sovos Trust Services for ID verification, e-signature, and document management support.

Sovos implemented biometric identity verification, digital signatures, secure document management, and certified timestamping/NOM 151 seal validation to create a compliant omnichannel experience. The result was a 70% reduction in fraud rates, 60% less manual effort, and service times that were 3x faster, contributing to a projected $2.4M+ three-year ROI.