DIRO’s instant bank account verification and proof of address solution helps us to improve the user experience and enhances our KYC and AML processes.
Miles Paschini — CEO, FV Bank
Customer onboarding
The problem:
Opening a new bank account often requires manually verifying 2 small micro-deposits. This process can take 2-3 days and is prone to user input errors, which can result in lost customers for the bank.
The solution:
Allow customers to verify their bank account securely, in a matter of seconds, using their login credentials. By integrating with DIRO, customers can be up and running on the same day.
FV Bank integrated DIRO’s solution to its account opening to allow for automation in their KYC (Know Your Customer) process. With instant bank account verification, identity verification, and proof of address directly from the original web source, FV Bank is now able to offer real-time onboarding to its international clients.
DIRO’s solution makes it possible for international financial institutions such as banks, payment providers, and crypto companies to have global coverage for regulatory compliance that otherwise was difficult or not possible.
FV Bank, headquartered in Puerto Rico, United States, is a digital only bank serving fintech, blockchain companies, and international private clients.
By leveraging DIRO’s bank account verification in account opening in international markets, FV Bank further establishes its commitment in driving innovation that is poised to reshape the banking industry.
