MyInvestor
Since 2017, we registered more than 180,000 customers 100% digitally
MyInvestor needed an identity and signature verification solution to integrate into its account opening and contract signing process that would meet the requirements of the Spanish national regulator. As an online bank, customer onboarding depends on a fast, smooth, seamless process capable of delivering a multi-channel experience. "From the beginning, we were looking for an efficient partner that could provide us with a technology that would guarantee excellent conversion rates. And we found it" says Javier Sánchez, Head of Accounts and Mortgages at MyInvestor.
– As a 100% digital bank, we needed a partner that could provide us with the best solution in terms of user experience, security and compliance, while understanding our business and needs
Head of Accounts and Mortgages @ MyInvestor
Challenge
MyInvestor is a digital bank operating in Spain. Like all neobanks, as they do not have physical branches, their priority is to have a fast, efficient, and, above all, secure digital customer registration process. In order to offer their customers a digital service, they are constantly looking to improve and innovate.
They were looking to offer a multi-channel experience (web, iOS and Android) for their account opening and contract signing process, while making it smooth and easy to complete in order to reduce the drop-out rate as much as possible.
–"Our extensive experience in the banking sector allows us to offer a range of solutions that are 100% tailored to each customer's needs. Our Digital Identity Platform covers the entire digital identity lifecycle: from identity verification, authentication and e-signature to fraud detection"
Solution
When it came to choosing an identity verification solution, the guarantee that by complying with all the current regulations they would have a fast, smooth, and intuitive user registration was the most important aspect for MyInvestor, as they operate in a very competitive market.
They offer a new online account opening process in three different modalities: for one adult account holder, for two account holders, and, finally, for minors. To set up the customer sign-up process, Signicat offers its video identification solution for online customer identity verification in an asynchronous process, together with an Advanced Electronic Signature, as required by the Spanish regulator.
"We digitised account openings with Signicat's solutions in 2017. It was a big step for us. We wanted to offer our customers an optimal experience, allowing them to be onboard seamlessly, quickly, and easily" says Sanchez.
Result
Signicat is the most complete and reliable digital identity partner in the market. Constantly innovating and adapting to financial institutions. MyInvestor has been using Signicat's video identification and advanced electronic signature solution since 2017, registering more than 180,000 customers 100% digitally.
Similarly, over the years, Signicat's Customer Success and Support team has worked closely with MyInvestor to implement improvements to its account opening process in order to reduce the abandonment rate as much as possible.
"The experts from Signicat, who understand our business and our challenges, accompany us at all times and study our evolution in detail to propose improvements that we can implement," says Sanchez.