Holvi cuts down identification time from 1–3 workdays to minutes with IDnow

Challenges.

BHolvi diversified it’s know-your customer (KYC) process with services provided by IDnow in 2017. Prior to this process documents were manually captured and assessed internally by Holvi employees. The user had to upload their ID and wait for it to be verified. During busy periods, clients had longer waiting times. Moreover, verification could only be performed on weekdays during business hours.

In light of rapid business growth, Holvi soon needed to broaden its processes and decided to partner with a professional partner that enables rapid and above all scalable solutions. The goal was to combine a positive user experience with robust security while complying with applicable laws and regulations.

“In 2017, when Holvi decided to streamline the client-onboarding process with IDnow, there were three key requirements: speed, security, and the customer experience,” explains Jari Hautaranta, Customer Due Diligence Manager at Holvi.

The primary challenge is ID verification. To meet its high quality standards, Holvi had to create a seamless customer experience, with an intuitive and rapid series of steps. Moreover, there was an emphasis on security and fraud prevention, as well as compliance with the differing regulatory requirements of the target countries. A next-generation onboarding process was needed.

After considering a number of providers, Holvi chose IDnow on the basis of the following key strengths:

• A flexible solution suitable for both desktop PCs and smartphones
• A service offering available in German
• IDnow’s in-depth understanding of KYC imperatives in Holvi’s key markets
• State-of-the-art technology that enables easy integration

“It is important that the identification process for us and our clients is secure,” emphasizes Jari Hautaranta, Customer Due Diligence Manager at Holvi. “We work with sensitive data and were looking for a partner we could trust, with security expertise, and knowledge of regulatory requirements and the divergent legislative situations.”

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The solution.

IDnow’s solution enables Holvi’s clients to verify their ID, guided by a trained IDnow agent (ident specialist). The process is simple, intuitive, and takes a matter of minutes. And it is available on weekends and evenings. Moreover, building on IDnow products, Holvi can now better scale up its offering.

The Banking Service also benefits from the international nature of the ident solution: an API allows the various platform products to be implemented across multiple countries.

“The speed of the process helped us enormously to make our onboarding process and our service scalable,” states Jari Hautaranta, Customer Due Diligence Manager at Holvi. “Moreover, we were able to reduce the operational workload on our back-office team.”