Case Study: EQ Bank achieves a 10% increase in document verification completion with Trulioo

EQ Bank boosts document verification completion by 10% with Trulioo

EQ Bank, a Canadian challenger bank, faced the challenge of scaling its identity document verification process to handle a massive influx of new customers anticipated from its high-profile 2024 Super Bowl brand campaign. They needed a vendor that could provide a seamless user experience without compromising on world-class compliance and fraud detection, and they had to implement a new solution within a tight three-month deadline. EQ Bank selected Trulioo and its KYC Documents product to meet this challenge.

Trulioo's solution, particularly its no-code Workflow Studio, allowed EQ Bank to quickly customize and adjust its onboarding workflow without lengthy development cycles. The implementation was a success, leading to measurable improvements including a 10% increase in document verification completion rates and an 89% overall document verification rate. This contributed to a 3% increase in overall onboarding conversion, providing a strong foundation for customer growth following the campaign.

EQ Bank