Hype is Transforming Onboarding Efficiency With Entrust
Hype, Italy's leading neobank specializing in mobile money management within the Fintech sector, boasts a customer base of over 1.8 million clients. With a mission to simplify traditional banking complexities and foster innovative financial experiences, Hype has positioned itself as a point of reference for modern payment and banking solutions.
Document verification during onboarding
Successful document and video verifications
The Challenge
Hype needed to expedite the onboarding process, specifically in the ID verification step without compromising data security and reliability. Despite having a native solution known for its anti-fraud capabilities, its former process was labor-intensive. Hype wanted a more scalable and efficient solution to enhance the user experience and streamline the onboarding workflow.
The Solution
After exploring various options, Hype selected Entrust as their preferred identity verification solution. Entrust offered a superior user experience, flexibility, and seamless integration capabilities. The solution quickly integrated into Hype's verification matrix, consisting of over 350 rules. This integration allowed for faster processing of both positive and negative onboarding cases, contributing to an improved overall workflow.
Onfido (now part of Entrust) is helping us provide our customers with the fastest and most secure onboarding experience.
Massimo Andrenacci, Product Manager, Hype
The Results
The strategic collaboration between Hype and Entrust yielded transformative outcomes, providing key benefits that propelled Hype's growth and user trust, including:
- Increase conversion rate: The solution resulted in a double-digit increase in Hype's conversion rate.
- Onboarding efficiency: The average time for completing the onboarding process significantly decreased.
- Fraud reduction: Entrust contributed to notable improvements in fraud detection rates and conversion.
Looking ahead, Hype plans to continue improving conversion rates and maintaining a vigilant stance on anti-fraud measures with Entrust identity verification playing a key role in delivering fast, secure, and efficient onboarding experiences. Now, Hype is able to verify a document in less than 5 minutes, streamlining the onboarding process and contributing to the neobank's business growth.