Case Study: Modularbank achieves streamlined KYC and improved fraud detection with Veriff

Modularbank adds Verification & KYC Capabilities to its Ecosystem with Veriff

Modularbank, a next‑generation core banking platform, needed a simpler, automated way for its customers to meet KYC and compliance requirements and to strengthen fraud prevention during customer onboarding. To address this, Modularbank partnered with Veriff to add Veriff’s identity verification and KYC capabilities as a ready-to-integrate, plug-and-play solution in its product ecosystem.

Veriff implemented its AI-powered, video-first identity verification and data cross-linking technology into Modularbank’s API-first platform, enabling automated onboarding and enhanced fraud detection for Modularbank’s clients. The integration simplified sign-up flows and improved financial crime detection rates for customers; the move is especially timely given industry trends cited by Veriff, where fintech fraud more than tripled in spring 2020 and identity fraud accounted for about 70% of cases.

Modularbank

Rivo Uibo

Chief Business Officer and Co-Founder