ClickCease

How Instnt enables a smooth customer onboarding experience for its clients while minimizing their exposure to fraud

Goal : Fraud mitigation;
Streamline onboarding

Industry:  FinTech

CHALLENGE :

As a full orchestration platform, Instnt has a unique zero fraud loss guarantee so their customers are only charged if a verified and authenticated identity passes through. Instnt needed a solution that could provide best-in-class accuracy and coverage to feed into their platform.

SOLUTION :

Instnt embedded Prove solutions in their platform to minimize their fraud risk exposure and thus, their cost of insuring their customers for loss due to fraud.

98%

User base coverage

84%

Pass rate of verified identities*

20%

Rejection accuracy of known fraudsters (true positive rate)*

*Prove numbers as compared to other vendors that Instnt employs

Instnt is the first fully managed customer onboarding service for businesses that helps them onboard more good customers and minimize loss liabilities. Instnt offers a fully baked solution with its low-code integration and features so businesses can get their products to market faster.

Uniquely, Instnt provides identity assurance that warranties each accepted user, indemnifying businesses up to $100MM in fraud loss liability protection so businesses can focus on growth instead of fraud and compliance management.


Prove’s best-in-class accuracy and coverage for decisioning

With fraud loss indemnification and pay for performance as key features of their solution, it was critical for Instnt to have best-in-class accuracy and coverage to feed into their models to make overall decisions for their customers. That’s when Instnt turned to Prove as a fraud mitigation tool that could also bring efficiencies to the sign up process. Instnt leveraged Trust Score® and Identity Verify™ to verify possession and reputation of phone numbers that helped eliminate over 99% of the fraud that entered their system.

“Prove’s platform, we found, has the best accuracy and coverage and feature set in terms of capabilities built around the mobile network and mobile devices,” explained Sunil Madhu, CEO of Instnt. He continued with, “We’re able to put our money where our mouth is thanks to partners like Prove that are embedded in our solution that allow us to eliminate over 99% of the fraud that gets into our system.”

Sunil Madhu,
CEO of Instnt

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