Case Study: CrescoFin reduces identity fraud and secures KYC compliance for its Swiss digital banking platform with Veriff

Swiss digital banking alternative, CrescoFin, partners with Veriff to reduce identity fraud online

CrescoFin, a Geneva-based digital banking alternative, faced the challenge of preventing identity fraud while meeting KYC/AML requirements as customers onboard through its app. With fintech fraud surging — Veriff’s Fraud Report noted fraud more than tripled in spring 2020 and identity fraud made up to 70% of cases — CrescoFin partnered with Veriff to secure its digital onboarding.

Veriff deployed its AI-driven, video-first identity verification and sophisticated data crosslinking to validate users during sign-up, meeting compliance and blocking impersonation and document fraud. The Veriff integration greatly reduces identity-fraud risk for CrescoFin, helping assure customers as it rolls out its CINAP savings product and broader digital banking services and preventing the types of fraud that dominated fintech cases in 2020.

CrescoFin

Derek Mayne

Managing Director and Co-founder