Case Study

Finset

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AI-Powered ID verification solution protects Finset and its stakeholders

Background

Finset, an innovative car financing platform, faced a rising challenge: fraud. As the asset financing sector experiences significant fraud growth, Finset needed a robust identity verification solution to protect itself and its stakeholders.

Challenge

As asset finance fraud continues to escalate in the UK, Finset needed to respond effectively. According to Cifas’ 2024 Fraudscape report, UK organisations reported nearly 74,000 cases of misuse of facility fraud in 2023, with asset finance experiencing a 45% increase.

Finset sought a solution that could:

Prevent financial loss due to fraud
Ensure regulatory compliance
Streamline onboarding processes

ID-Pal’s solution has not only saved us a significant amount of money but has also dramatically improved customer satisfaction by creating a smoother, more secure onboarding process.

Graham Westwood, Founding Director

Finset

Solution

Finset integrated ID-Pal’s identity verification and fraud detection solution via API, focusing on ID-Pal’s ID-Detect. This advanced tool leverages AI to detect fraudulent, AI-generated documents and confirms the presence of a physical document, not a reproduction.

With ID-Pal’s unique blend of biometric, document, and database checks, Finset could now:

Prevent fraudulent applications while protecting all stakeholders involved (lenders, suppliers, and customers).
Verify identities in real-time with 100% AI-powered technology.
Maintain seamless workflows and customer satisfaction through automated and efficient onboarding.

The easy API credentials and creating a bespoke journey to our customers has dramatically increased customer satisfaction but also prevented a significant amount of fraudulent applications.

Graham Westwood, Founding Director

Finset

Results – £700,000 worth of fraud blocked

Fraud prevention: Preventing over £700,000 in fraud in just 6 months

Customer Experience: Creating a seamless, tailormade onboarding journey for Finset

Compliance & Security: ID-Pal’s platform ensured compliance with AML and KYC
regulations while maintaining zero access to customer data.

Featured Solutions:

Database Checks Document Checks Facial Matching Biometrics

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Case Study

Finset

AI-Powered ID verification solution protects Finset and its stakeholders

Background

Challenge

ID-Pal’s solution has not only saved us a significant amount of money but has also dramatically improved customer satisfaction by creating a smoother, more secure onboarding process.

Graham Westwood, Founding Director

Finset

Solution

The easy API credentials and creating a bespoke journey to our customers has dramatically increased customer satisfaction but also prevented a significant amount of fraudulent applications.

Graham Westwood, Founding Director

Finset

Results – £700,000 worth of fraud blocked

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Case Study

Finset

AI-Powered ID verification solution protects Finset and its stakeholders

Background

Challenge

ID-Pal’s solution has not only saved us a significant amount of money but has also dramatically improved customer satisfaction by creating a smoother, more secure onboarding process.

Graham Westwood, Founding Director

Finset

Solution

The easy API credentials and creating a bespoke journey to our customers has dramatically increased customer satisfaction but also prevented a significant amount of fraudulent applications.

Graham Westwood, Founding Director

Finset

Results – £700,000 worth of fraud blocked

Share:

Featured Solutions:

Related Case Studies

Find out how we can help your business grow

See our success stories

See our success
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