Veriff partners with BB Finance to add an extra layer of safety against fraud
We are happy to announce the partnership with BB Finance to add an extra layer of safety and security to their customers. Veriff’s identity verification solution is paramount for mitigating the risk of losing revenue because of fraudulent activities online.
Chris Hooper
About BB Finance
BB Finance is a financial services company providing consumer loans to private customers operating under two brands – Raha24 and HyBa.
The company’s goal is to empower individuals by granting them access to funds and giving them financial flexibility when they need them the most, without the burden of providing collateral. Most of their customers are hardworking folks, many with families, who need quick and easy access to funds for unexpected expenses.
Founded in 2006 in Estonia, BB Finance is on the mission to be a responsible, fast-growing, and tech-driven financial institution, shaping responsible financial practices in all its operations. Their longer-term goal is to become the preferred short-term credit partner for private individuals in Estonia.
“Veriff’s team has been highly responsive, attentive, and always readily available to address any inquiries or concerns we have had throughout the integration process.”
What business problems did Veriff solve for BB Finance?
The main reason we turned to Veriff's services was due to a notable increase in fraudulent activities lately. This surge not only burdened our legal team with additional work but also inflicted unnecessary hardships on individuals who fell victim to these online scams.
We recognized the urgent need to enhance the security of our platform without overly complicating the onboarding process.
While compliance, fraud prevention, and conversion rates are all crucial in the financial sector, our primary focus lies on mitigating lost revenue due to fraudulent activities. Since many fraud cases result in unrecoverable losses, safeguarding against such instances is paramount to our financial stability and growth.
“The ease of integration saved us time and resources, allowing us to start leveraging their powerful fraud detection capabilities quickly.”
Why did you choose Veriff?
First and foremost, communication with Veriff has been exceptional. “Veriff’s team has been highly responsive, attentive, and always readily available to address any inquiries or concerns we have had throughout the integration process,” said Kertu Järvevee, Chief Marketing Officer. This level of communication instilled confidence in Veriff’s ability to support us effectively.
Additionally, Veriff offered a seamless integration process, making it easy for us to implement their solution into our existing systems. “The ease of integration saved us time and resources, allowing us to start leveraging their powerful fraud detection capabilities quickly,” Järvevee added.
Moreover, the flexibility of Veriff's pricing structure was a significant deciding factor for us. We appreciated the option to customize pricing based on our specific requirements, rather than being locked into rigid, long-term contracts.
“Flexibility in pricing ensured that we could scale our partnership with Veriff according to our evolving needs without unnecessary financial constraints”.
Overall, Veriff's combination of excellent communication, easy integration, and flexible pricing made them the ideal partner for us. Veriff’s powerful fraud detection software further solidified our decision to collaborate, providing us with the confidence and assurance we needed to combat fraud effectively in our operations. We are looking forward to combating online fraud together.
“Flexibility in pricing ensured that we could scale our partnership with Veriff according to our evolving needs without unnecessary financial constraints.”
About Veriff
Veriff is the preferred identity verification partner for the world’s biggest and best digital companies, including pioneers in fintech, crypto, gaming, and the mobility sectors. We provide advanced technology, deep insights, and expertise from our foundation in digital-first Estonia and honed in leading the digital identity revolution. The partner of choice for businesses who need to rapidly and effortlessly verify online users from anywhere in the world, Veriff delivers the widest possible identity document coverage.
By supporting government-issued IDs from more than 230 issuing countries and territories and with our intelligent decision engine, which analyzes thousands of technological and behavioral variables, Veriff enables trust from the first hello.
“Veriff’s powerful fraud detection software further solidified our decision to collaborate.”
