*Perfect = Better
~ 6 min read
Nitzan Guy
Co-founder & CPO at Ballerine
Twitter twitter.com/NitzanG
<aside> 📎 Website Ballerine.io
GitHub GitHub.com/ballerine
Twitter @BallerineApp
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In this article I would like to brag about things we did in order to largely increase our active users growth for Rewire, an international digital bank for migrant workers.
We hope this article can help others understand how
<aside> 💡 A bit about Rewire Before Rewire was digital bank for migrant workers worldwide, it was mainly a money transfer service for migrant workers in Israel. In the following article we will discuss those good ol’ days…
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When we started Rewire we quickly came to know that we would need to take our customers through a process called “KYC” before providing any service.
Our KYC process required the customer to provide a few things:
Now that’s quite a friction filled process. 😬
<aside> 💡 What is KYC? “Know your customer”, a set of personal properties a financial institution needs to regulatory collect when providing a service to a customer.
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To approve that the IDs we are receiving are real, we have checked various 3rd party IDVs (Identity verification tools) based on performance, price and length of implementation and after a long due diligence process we finally came to choose a popular IDV provider to do the job.
The IDV solution does three things:
Sound great, right?
Yeah, we thought so as well...