How Trading 212 Speeds Up Onboarding with Automated Verification
See how Trading 212 speeds up onboarding with Klippa’s automated document verification, reducing workload and improving accuracy.
About Trading 212
Trading 212 is a UK-based financial technology company that provides a mobile application and website for trading stocks, forex, commodities, and cryptocurrencies. As a fast-growing online trading platform, Trading 212 serves a large customer base, requiring an efficient and secure onboarding process to verify new users. Given the high volume of transactions and regulatory requirements, verifying payment cards and proof of residence is a crucial step in maintaining compliance and preventing fraud.
The Challenges of Manual Payment Card and Proof of Residence Verification
Before implementing Klippa, Trading 212 relied on a manual process to validate payment cards and proof of residence documents. This approach was time-consuming, often causing delays in user onboarding. Mismatched names, missing data, and inconsistent document formats can lead to frequent rejections, frustrating users and increasing customer support workload. The inefficiencies in manual validation result in longer processing times and additional back-and-forth communication between users and support teams.
Trading 212 Enhances Onboarding Efficiency with Klippa’s Automated Document Verification
With Klippa’s OCR-powered document verification, Trading 212 automated the extraction and validation of payment card details and proof of residence documents. Klippa’s technology allows for real-time data extraction, ensuring faster and more accurate verification. This automation significantly reduces document rejection rates by identifying inconsistencies early and providing instant feedback to users if any corrections are needed.
Additionally, the streamlined process reduces the workload for Trading 212’s compliance and customer support teams, enabling faster onboarding and improving user satisfaction. The automation ensures that valid documents are processed immediately, while flagged documents can be reviewed efficiently by compliance officers, enhancing fraud detection capabilities.
Why Klippa
Trading 212 selected Klippa due to its high-accuracy OCR technology, ability to automate complex document verification processes, and scalability for handling high transaction volumes. The reduction in manual workload and improved onboarding speed made Klippa an essential component of Trading 212’s digital customer experience.
By leveraging Klippa’s automation, Trading 212 has enhanced its document verification process, ensuring a faster, more secure, and user-friendly onboarding experience for traders worldwide.
The Benefits for Trading 212
Faster customer onboarding process
Automated document verification speeds up customer registration, reducing waiting times and enabling users to start trading sooner.
Improved verification accuracy
Klippa’s OCR technology ensures that names, addresses, and card details are correctly extracted, minimizing manual review errors.
Enhanced customer experience
Fewer rejected documents and quicker validation lead to a smoother onboarding journey, reducing frustration for new users.
Lower operational workload and more focus
Automating document checks reduces the burden on compliance and customer support teams, allowing them to focus on higher-value tasks.