DIGITAL ONBOARDING & ACCOUNT SETUP
Make opening financial institution and credit union accounts simple, secure, and digital
Get access to your customers existing accounts, balances, income and spending from third party financial institutions with instant bank verification , while also verifying their identity using a government-issued ID and selfie. Eliminate new-customer drop-off, prevent fraud, and give customers a seamless digital onboarding experience.
Eliminate new customer drop-off, prevent fraud, and give customers a seamless digital onboarding experience.
Simplify how customers switch banks and set up new accounts
Instant bank verification provides data to guide onboarding and automate switching banks and accounts by providing account information, balances, deposits, and PADs.
Prevent more fraud and identify more synthetic accounts
Confirm applicants’ identities using government-issued ID and selfie verification, then validate ownership of a real, active bank account as a second layer of trust.
Get money into accounts faster after set-up
Use verified financial institution and bank accounts to streamline initial deposits and expedite account activation.
“My team was very happy with the support we received from Inverite to seamlessly integrate a new credit union. Their team’s dedication was evident through their consistent status updates and quick resolution times, which not only impressed us but also delighted our client.
Inverite’s proactive approach and efficiency made the entire process smooth and effortless. We highly recommend their services to anyone seeking reliable and responsive support.”
– Mike Tyndall, CTO Judi.AI & Inverite customer since 2022
How it works
1: Customer starts their application
The customer enters their details and chooses the account they want to open.
2: The user verifies identity in-app
Customers verify their identity using government ID and a live selfie, no branch visit required.
3: Confirm existing bank account ownership
Instant bank verification confirms the customer has existing real bank data to identify fraud and synthetic accounts.
4: Guide account setup
Bank data enables personalized onboarding, including funding or movement of existing deposit or investment accounts, payroll deposits, and pre-authorized payment setup.
5: Fund the new account
The financial institution or credit union initiates a fast, secure first deposit by suggesting an optimal method based on the customer’s bank data.
%
Synthetic Identity Losses
%
Canadians Targeted
%
Cost of Fraud as % of Revenue
Share of fraud losses caused by synthetic identity fraud, up 8 percentage points from 2024 — now a major driver of fraud impact in Canada.
Nearly half of Canadians were targeted by email, SMS, phone or online fraud attempts in just three months from February to May 2025.
Percentage of equivalent revenue Canadian businesses lost to fraud in the past year — totaling approximately CAD 111 billion.
Visit the full report from the TransUnion H2 2025 Fraud Trends report
Bring more customers on board
Ready to simplify how your customers move between banks? Book some time with us to see how you can streamline the process and prevent more fraud. You can also email us at sales@inverite.com.