Case Study: BHG Financial achieves faster, more secure ID verification with Vouched

BHG Wows Customers with Fast and Trusted ID Verification

BHG Financial, a large commercial lender, faced the challenge of creating a faster, more secure digital onboarding process for its loan applicants. Their existing methods were cumbersome, leading to customer frustration and drop-off, while the need to maintain stringent KYC compliance and avoid fraud remained critical. To address this, they turned to the vendor Vouched for an identity verification solution.

Vouched implemented its AI-driven identity verification service, which quickly validates user identities and documents in seconds. This solution integrated seamlessly into BHG's process, enhancing security and the customer experience. The results were significant: BHG reduced fraud, saved over $2.4 million annually, and saw an 8x faster loan closing rate. This contributed to an annual increase of over $200 million in new loan originations, with 100% of borrowers choosing the Vouched method.

BHG Financial

Tyler Crawford

Chief Operating Officer