Case Study for Secure Trust Bank
Background: Secure Trust Bank specialists in offering simple, transparent lending and banking solutions to UK consumers who may not be adequately served by other banks. Its core business is to provide retail banking services, including personal unsecured lending, motor finance, retail finance and current accounts. The company has been operating for more than 50 years, with a head office in Solihull, West Midlands.
Challenges: Secure Trust Bank required a tailored identity verification service for prospective customers applying for banking and lending solutions. In particular, they required a software solution that would fulfil strict anti-money laundering (AML) regulations – a legislative requirement for the banking sector to protect both new and existing customers.Checks needed to be carried out in real time, in order to reduce the costs and time associated with validating identity High verification rates for genuine customers were vital, in order to retain Secure Trust’s reputation as a simple, straightforward bank for customers to deal with.
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