Case Study: Top U.S. Bank achieves 78% reduction in account-opening fraud and $70M/year savings with Trusona identity proofing

Leading U.S. bank slashes account opening fraud by 78% and saves over $70M per year using Trusona’s identity proofing service, yielding a return on investment of 1,700%

Top U.S. Bank, a leading U.S. bank, was battling rising account opening fraud—driven by fake and synthetic IDs—while needing to meet strict KYC and AML requirements across in-branch and digital channels. To reduce fraudulent new accounts and deploy a centralized, scalable solution, the bank selected Trusona’s identity proofing service.

Trusona implemented its identity proofing service—using AAMVA Driver’s License Data Verification and patented anti-replay technology—integrated via web-friendly JSON REST APIs into the bank’s onboarding app across channels. After two years and millions of verifications, the bank saw fraud drop from 3.3% to 0.68% (a 78% reduction), saved about $70M annually, achieved a 1,700% ROI, and processed tens of thousands of requests per week with average responses under 2.5 seconds.