Aella Credit, a Nigerian Fintech company providing instant credit and payment solutions, faced a common problem among businesses: slow and inefficient identity verification. This was a major hindrance to the smooth operation of their business, as customers in need of loans often required them as soon as possible.
Because of this, Verified.Africa stepped in to provide a solution that would make the process of onboarding and verifying customers a swift and seamless experience.
The Challenge: Slow and Inefficient Identity Verification
Aella Credit places a high priority on verifying the identities of their customers, as they lend money to individuals who need to make quick payments. However, the company was faced with several challenges using its previous identity verification solution, including constant lags, downtime, backlogs, and errors.
This problem with the constant delays needed to be resolved to enable Aella’s customers to perform transactions and obtain loans promptly.
The Solution: Verified.Africa’s International Passport Verification
Verified.Africa’s goal is to provide solutions that enable businesses to efficiently and swiftly onboard their customers while verifying their identities in the process.
To resolve the challenges faced by Aella Credit, Verified.Africa provided the solution for Aella Credit to verify the identities of their customers. This is done through the International Passport verification service, which is linked to the National Identification Number (NIN) that is required for every Nigerian citizen.
By utilising both the NIN and International Passport details, Aella Credit verified their customers’ identities in a matter of seconds, as opposed to days. Another key advantage of Aella’s partnership with Verified.africa is the prevention of loan defaults that could potentially lead to financial instability for the company.
By utilising Verified.africa’s robust KYC solution, Aella is able to accurately verify the identity of its customers and assess their creditworthiness, thereby minimising the risk of loan defaults and ensuring the financial stability of the business.
Verified.Africa seamlessly allows for this through the integration of our API on the Aella Credit platform. Read more about how to use Verified.Africa.
Streamlining the KYC Process with Verified.Africa’s API Integration
Verified.Africa’s solution has greatly improved Aella Credit’s business processes and customer experience, as they no longer face downtime or lags in the verification process.
The company’s decision to adopt Verified.Africa’s KYC solution has not only increased the speed and efficiency of its customer onboarding but has also reduced the risk of lending money to customers who may default on their loans.
The integration of Verified.Africa’s API into the Aella Credit platform was a seamless process, allowing for an effortless and swift onboarding experience for their customers.
Establishing Trust and Improving the Customer Experience
Verified.Africa’s mission is to establish trust between businesses and their customers while reducing the risks associated with identity theft and other malicious activities.
By confirming the identities of their customers, Aella Credit was able to onboard genuine customers with a seamless account creation experience. This improved their relationship with their customers and ultimately helped to increase their revenue.
For another case study, check out this post. We aim for the best with our services that keep both you and your customers happy. Try Verified.africa today for free to swiftly identify your customers and increase your revenue.