Case Study

Smarter ID verification for a major bank

We developed a seamless, AI-powered verification system to reduce friction, enhance security, and improve customers’ experience

Finance

The problem

A large bank wanted to eliminate the friction in ID verification for customers applying for mortgages, opening bank accounts, or renewing passports. They asked us to design a secure, efficient way to simplify document verification.

Solving a common frustration

Customers frequently struggled to gather and submit the necessary documents to prove their identity. The bank saw an opportunity to eliminate unnecessary steps, reduce delays, and improve the overall customer experience by providing a faster, more secure way to verify identities.

Enhancing security and accessibility

The bank aimed to create a centralized, user-friendly solution where customers could securely store and share their verified identity documents. Our goal was to develop a digital ID verification system that improved both security and convenience while respecting user privacy.

Our solution

We developed Covault, an Android and iOS-compatible app that streamlines ID verification by storing all essential documents in one secure place.

It allows users to quickly and safely share their verified identity with third parties using on-device encryption and digital signatures.

A secure digital identity vault

We created a mobile app that lets users store and manage verified digital identity documents, eliminating the hassle of repeatedly submitting physical copies. From proof of address to passports, everything is securely stored and readily accessible when needed.

Fast, frictionless sharing with third parties

Covault enables users to easily share their verified ID with banks, government agencies, and other institutions without compromising security. Third parties receive digitally signed and encrypted identity data, reducing processing times and minimizing errors.

End-to-end encryption for maximum security

By implementing on-device encryption and digital signatures, we ensured that sensitive data remains private. Users stay in complete control of their information, and documents are only accessible to the intended recipients—eliminating risks associated with insecure channels.

Automated verification with third-party data sources

Instead of requiring users to upload documents manually, Covault pulls data from trusted third-party sources, automatically verifying identities while maintaining security and accuracy. This reduces manual effort and ensures real-time validation.

Results

Faster ID verification led to higher completion rates for banking and government applications

Improved customer experience by eliminating delays and manual document submissions

Enhanced security through end-to-end encryption and digital signatures

By shifting from traditional marketing to AI-powered targeting, the bank significantly increased sales while reducing marketing spend. The result: a 736% ROI, 26,212 direct sales, and a 43% drop in costs.

Before working with us, the bank’s traditional marketing methods resulted in low engagement and high costs. With AI-driven predictive modeling, they matched customers to products with higher precision, focusing only on the most likely buyers.

This approach cut campaign costs by 43% while still reaching the right audience. AI-powered automation drove 26,212 direct sales, significantly outperforming past campaigns.

By optimizing marketing spend and improving targeting, the bank achieved a 736% return on investment, proving that AI-driven automation delivers faster, more cost-effective growth.

This AI-powered system is now a key part of the bank’s marketing strategy, continuously learning and refining its approach to maximize future performance.