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IDfy Case Studies PDF

1) IDfy helped Delta Exchange reduce false negatives and customer drop offs in their identity verification process by analyzing user data and making changes to their onboarding flow. 2) IDfy's analysis found that many user profiles were being rejected due to outdated photos on PAN cards. IDfy recommended using higher quality photos from Aadhaar cards instead which improved verification rates. 3) IDfy noticed many Video KYC rejections were coming from one area in Rajasthan, India. Their analysis revealed users were providing mismatched addresses and locations, likely fraud. HDFC Bank used this data to screen out fraudulent calls and reduce wait times for genuine customers.

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364 views8 pages

IDfy Case Studies PDF

1) IDfy helped Delta Exchange reduce false negatives and customer drop offs in their identity verification process by analyzing user data and making changes to their onboarding flow. 2) IDfy's analysis found that many user profiles were being rejected due to outdated photos on PAN cards. IDfy recommended using higher quality photos from Aadhaar cards instead which improved verification rates. 3) IDfy noticed many Video KYC rejections were coming from one area in Rajasthan, India. Their analysis revealed users were providing mismatched addresses and locations, likely fraud. HDFC Bank used this data to screen out fraudulent calls and reduce wait times for genuine customers.

Uploaded by

AvishekN
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Think Video KYC

Think IDfy
Data mining

A solution
that’s picture
perfect

Insights from
IDfy helped Delta
Exchange reduce
false negatives
and customer
drop offs
Delta Exchange is a Cryptocurrency IDfy, in consultation with
Exchange. They verify their users’ Delta Exchange, changed the
identities to keep their platform honest onboarding flow.
and fraud-free.
Wherever it was available, Delta
Their user onboarding had hit Exchange started extracting users’
an unexpected roadblock. IDfy’s Aadhaar details using DigiLocker.
dashboards showed an unusually The picture stored with the UIDAI
high number of profiles getting is often of much higher quality than
rejected due to a low FaceMatch that on the PAN card. The user’s
score i.e., the user’s selfie was picture retrieved from DigiLocker
not matching with the picture on started to get used for FaceMatch
their PAN card. instead of the one extracted from
the PAN card.
IDfy’s data analysts dug deeper. We
realised that profiles were getting Almost immediately, the false
rejected mainly because users were negatives dropped and the rate of
submitting old or dated PAN cards. customer onboardings increased for
An old PAN card with an equally old Delta Exchange.
picture of the user would often lead to a
Now that makes a great
FaceMatch rejection. Delta Exchange
picture.
wanted a solution to the problem
without relaxing their FaceMatch Say cheese!
threshold scores.

Reach out to us at shivani@idfy.com www.idfy.com


Who you gonna call?

Fraud
busters!!!

Preventing
possible fraudsters
from call queues helped
HDFC Bank reduce call wait
time of genuine customers
from 3 minutes to
20 seconds
As the backbone of HDFC Bank’s Armed with the data we provided,
Video KYC operations, IDfy’s data HDFC Bank changed the call
analysts noticed an unusual trend. initiation workflow. The new flow
checks the Latitude-Longitude at
A large number of Video KYC
the start of the call, before even
rejections were coming from one
connecting to the agent. Any calls
particular PIN code in Rajasthan.
from the flagged coordinates get
Further digging revealed that
prompted to visit the branch for
the cause of all these rejections
their KYC.
was a mismatch between their
entered address and their live Cutting out fraudsters’ calls helped
latitude-longitude coordinates. reduce wait times of genuine
customers during peak hour from 3
Something was clearly amiss. It
minutes to 20 seconds.
seemed like the Rajasthan version
of Jamtara.

While IDfy’s Video KYC was robust


enough to detect these fraud cases,
these fraudulent calls were occupying
bandwidth and agents’ time only to get
rejected in the end. This was leading
to genuine customers having to wait
longer in the queue.

Reach out to us at shivani@idfy.com www.idfy.com


Application-to-Approval

Done in
30 minutes!

IDfy’s video KYC


helps Amazon Pay
wallet users increase
their limit within
30 minutes of
applying for it
For wallet customers wanting to IDfy accepted the challenge.
increase their wallet limit, Amazon
To make the video available to the
Pay needs to complete a full KYC.
reviewers in the shortest possible
They use IDfy’s Video KYC for this
time, IDfy engineered factors such
part of the process.
as bandwidth and resolution. This
When a customer is trying to increase ensures that minimum processing is
their limit, it’s usually at a time when needed after the video call is done.
they desperately want access to
IDfy then routes the call to the most
the extra cash. Given their
relevant reviewer - based on location
customer-centric nature, Amazon
and language preferences. IDfy’s
Pay wanted this done within
platform provides all information at
30 mins, and not 12 or 24 hours
their fingertips for the reviewer to
later as is the industry norm.
make an informed decision.
On the face of it, completing a video
With IDfy’s re-engineering, it takes
KYC approval within 30 minutes
just 1 minute to process the video
seemed impossible. While the
call once it’s done. The video is
call can get done in a few minutes,
rendered in minimum time and made
processing the video, making it
available for review. The review
available for review, queueing it with
process happens efficiently.As a
the reviewer, and getting the review
result, Amazon Pay wallet users are
process done takes hours under
getting their limit increased within
usual circumstances.
30 minutes of applying for it.

Reach out to us at shivani@idfy.com www.idfy.com


About Us
The digital economy runs on trust. After all, you do need to know who you’re dealing
with. IDfy helps with that.

IDfy builds technology solutions to help companies accurately identify people, run background
checks, conduct KYC, mitigate lending risks, and onboard associates. Our mission is to deliver
these solutions with zero friction for end users.

IDfy’s APIs use AI/ML algorithms to extract information from documents, check for tampering,
verify ID details against official databases, compare faces across pictures, and run checks on
criminal records.

Since its inception in 2011, IDfy has impacted more than 150 Million lives. Today, it runs 25 million
verifications for 600 clients across India, South East Asia, and the Middle East every month.

IDfy regularly ranks amongst Asia’s top 5 RegTechs. While also sweeping in awards
like Deloitte Technology Fast 50, 2022 India Winner, Fintech ScaleUp of the Year, Best
RegTech Implementation and Innovator in Video solutions for Financial Services.

Reach out to us at

shivani@idfy.com
www.idfy.com

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