89 CASE STUDY: MELISSA When a leading social investment platform set out to make global markets accessible to everyone, its ambition quickly outpaced its infrastructure. With millions of registered users across more than 100 countries and copy-trading features driving a surge in new account registrations, the manual know your customer (KYC) process that had served the business in its earlier years was no longer fit for purpose. Users were required to locate, scan and upload identity documents – including passports, bank statements and proof of address – for manual review. The process was slow, error-prone and expensive to run at scale. Worse, it was creating friction at exactly the moment when new users were most engaged: the point of sign-up. The impact was damaging. Drop-off rates climbed, compliance costs rose and exposure to fraud risks such as synthetic identities and money laundering attempts grew harder to manage across dozens of regulatory jurisdictions. The social investment platform turned to Melissa, which embedded its real-time electronic identity verification (eIDV) suite directly into the company’s digital onboarding workflow. Built on Personator Identity, Melissa’s solution instantly matches an applicant’s name, address, date of birth, email address or phone number against authoritative global data sources including government agencies, credit bureaus and utility records. This provides residency verification, proof of address and compliance with KYC and anti-money laundering (AML) requirements, as well as watchlist and sanctions screening, all in a single step. Crucially, the integration required no overhaul of the social investment platform’s core systems. Melissa’s cloud-based APIs were embedded within the company’s existing Azure Data Factory environment – Microsoft’s fully managed, serverless data integration service – enabling both real-time and batch processing. The entire implementation was completed in a matter of weeks. The impact was immediate. Identity verification that had previously taken days now completes in seconds for most applicants. Conversion rates improved, fraud attempts fell significantly and KYC/AML accuracy strengthened across all markets. Maintaining the audit trails required for regulatory compliance also became considerably more efficient. “Electronic verification has proven to be a valuable component of our onboarding process because it streamlines the user journey,” said an operations analyst at the social investment platform. “Applicants can register faster and start engaging with the platform almost immediately.” Melissa continues to support the social investment platform’s global expansion, turning identity verification from a compliance overhead into a genuine competitive advantage – and helping one of the world’s largest social investment communities grow with confidence. A global social investment platform has used Melissa’s eIDV solution within Microsoft Azure to reduce identity verification time from days to seconds – cutting fraud, improving conversion and enabling compliant growth Turning compliance into an advantage FINANCIAL SERVICES
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