Unlocking financial access in LATAM: Case studies on identity verification success

Kueski: Accelerating lending with reliable IDV

Kueski, a leading digital lender in LATAM, faced a challenge familiar to many in the industry: balancing seamless user onboarding with robust fraud prevention. The company partnered with Veriff to implement advanced IDV technology that streamlined their loan application process without compromising security.

Key outcomes:

• Faster approvals: Automated verification reduced loan processing time.
• Enhanced trust: Accurate ID checks ensured only legitimate users gained access to loans.
• Scalability: The solution supported Kueski’s rapid growth across LATAM."

Comun: Bridging borders with secure payments

Comun is revolutionizing cross-border payments, connecting LATAM users to the global financial system. To ensure compliance with international regulations and maintain trust among users, Comun integrated Veriff’s IDV technology.

Key outcomes:

• Compliance made easy: Automated KYC processes streamlined regulatory adherence.
• Seamless user experience: Frictionless onboarding supported cross-border account creation.
• Global reach: Veriff’s multilingual support and adaptability enhanced Comun’s operations across borders.

Video: https://www.youtube.com/watch?v=R1kWm9l_2A8 

Quote from Comun:
"Veriff helped us simplify identity verification, so our customers can focus on what matters: managing their finances across borders."

Solventa: Building trust in digital lending

Solventa is redefining personal finance in LATAM by offering flexible lending solutions. Their collaboration with Veriff aimed to establish a secure foundation for trust and growth.

Key outcomes:

• Reduced fraud risks: Advanced IDV technology flagged fraudulent activities early.
• User confidence: Transparent and secure verification processes enhanced customer trust.
• Improved conversion rates: Efficient ID checks minimized drop-offs during onboarding.

Quote from Solventa:
"Veriff’s solutions provide the assurance we need to build long-lasting relationships with our customers."

Juancho te Presta: Empowering communities with fair lending

Juancho te Presta is committed to offering accessible credit to underserved communities in LATAM. Partnering with Veriff enabled them to ensure that their services remain both secure and inclusive.

Key outcomes:

• Fraud prevention: Rigorous IDV measures safeguarded their platform.
• Scalable growth: Veriff’s adaptable solutions supported Juancho’s expansion to new markets.
• Customer centricity: Streamlined processes reduced onboarding friction.

Quote from Juancho te Presta:
“Biometric authentication, which helps us to automatically check if a new user is already on our system under another account, is one of the most powerful Veriff tools that we use.”

Recommendations for financial institutions in LATAM

The success stories of Kueski, Comun, Solventa, and Juancho te Presta offer valuable lessons for financial institutions operating in LATAM. Here are some key recommendations:

Invest in robust IDV solutions

• As fraud risks grow, reliable identity verification ensures your platform remains secure while delivering a seamless user experience. Solutions like Veriff’s can support scalability and compliance.

Prioritize regulatory compliance

• With evolving financial regulations in LATAM, staying compliant is critical. Automating KYC and AML processes can reduce manual errors and improve efficiency.

Enhance customer onboarding

• Frictionless ID checks not only build trust but also reduce drop-offs, driving higher conversion rates.

Leverage multilingual support

• A multilingual IDV platform ensures inclusivity and allows you to cater to diverse user bases across the region.

Adopt scalable technologies

• Prepare for growth by using adaptable solutions that meet both current and future needs in a rapidly expanding digital economy.

By implementing these strategies, financial institutions can strengthen customer trust, expand their reach, and secure their operations in an increasingly digital landscape.

The role of IDV in LATAM’s financial growth

These case studies highlight how IDV serves as a cornerstone for financial innovation in LATAM. By integrating Veriff’s technology, companies like Kueski, Comun, Solventa, and Juancho te Presta are not only scaling operations but also strengthening trust in the digital financial ecosystem.

Partner with Veriff to unlock growth

Whether you’re looking to enhance user onboarding, ensure regulatory compliance, or expand your reach, Veriff’s identity verification solutions are here to help. Let’s work together to secure the future of financial services in LATAM.

👉 Explore Veriff’s Solutions for Financial Services

For insights into how financial institutions in the United States are leveraging identity verification to drive growth and combat fraud, explore our US Financial Services Case Studies. Discover trends, success stories, and best practices from industry leaders paving the way for secure and innovative financial services.