*Perfect = Better

~ 7 min read

Nitzan Guy Product designer / Product manager

Hi, whoever it may concern!

In this article I would like to brag about things we did in order to largely increase our active users growth at Rewire.

<aside> 💡 A bit about Rewire Today Rewire is a digital bank for migrant workers, serving their financial needs both abroad and back home. But when we started, Rewire 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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Introduction

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:

1. Fill out his full address in Israel
2. Upload a photo of his ID
3. Upload a selfie (we can compare to the ID)

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 regulatorily collect when providing a service to a customer.

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To approve that the IDs we are getting are real, we have checked various 3rd party IDVs (Identity verification tools) based on performance, price and length of implementation and finally came to choose an IDV called Onfido to do the job.

Onfido’s tool does three things:

1. Provide an out of the box Identity verification flow
2. Scans and sends back the written details on uploaded IDs
3. Verifying that the documents sent by the user are real and legal

Sound great, right?

Yeah, thought so as well...

The various problems with Onfido

Initially we were pleased with Onfido’s tool, we had around 35% conversion rate between people who started the flow to completing it and being verified so they can use our service.

But as we grew and were able to bring the rest of our product to a good shape, it was time to try and squeeze some more from our KYC flow.