LendingUSA, a leading provider of point-of-sale financing solutions, serves thousands of merchants and consumers nationwide. As application volume grew, the company identified an opportunity to strengthen its fraud prevention capabilities while maintaining the fast, frictionless experience its customers and merchant partners expect.
In 2021, LendingUSA began evaluating identity verification solutions and selected IDScan.net’s Digital Identity Verification Engine (DIVE). After a successful implementation in 2023, the solution has become a key component of LendingUSA’s fraud deterrence strategy to prevent suspicious applications from progressing while preserving a seamless borrower experience.
The Challenge
LendingUSA needed an identity verification solution that could meet several objectives: support KYC compliance requirements, deter fraud attempts early in the application process, and integrate smoothly into a mobile-first workflow without creating friction that leads to cart abandonment.
The company sought a partner that could deliver robust document authentication and identity assurance without compromising the speed merchants rely on to close transactions.
The Solution
LendingUSA integrated IDScan.net’s DIVE platform into its mobile web loan application workflow. When prompted, borrowers capture images of their government-issued ID and complete a guided selfie. DIVE then performs document authentication, biometric face matching, and additional verification checks, delivering results in seconds.
This streamlined process provides LendingUSA with a high degree of confidence that the applicant is who they claim to be, while keeping the borrower experience fast and intuitive.
The Results
Since implementing DIVE, LendingUSA has seen measurable improvements:
- Over 1,000 potentially fraudulent applications deterred or abandoned before completion
- Verification success rate improved from 88% to 97%
- Faster, more consistent identity verification without added borrower friction
- Strengthened KYC compliance posture
“We evaluated several identity verification providers and chose IDScan.net because the integration was straightforward and their team was willing to work with us to fine-tune the experience. The improvement in our verification success rate speaks to that collaboration.”
LendingUSA
Looking Ahead
LendingUSA and IDScan.net continue to collaborate on enhancements to the verification workflow. As fraud tactics evolve, both teams remain focused on staying ahead, balancing stronger identity assurance with the frictionless experience LendingUSA’s customers expect.
