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Case Study

Case Study: How a Leading Fintech Reduced Fraud by 94%

Learn how one of Europe largest payment processors implemented Veriafy to detect fraudulent documents while maintaining GDPR compliance.

Customer SuccessNovember 1, 20246 min read

One of Europe's largest payment processors faced a critical challenge: detecting fraudulent documents while maintaining strict GDPR compliance. Here's how Veriafy helped them achieve both.

The Challenge

The company processes millions of identity documents and financial records daily. Traditional fraud detection required:

  • Storing sensitive documents for analysis
  • Exposing personal data to classification systems
  • Complex GDPR compliance processes
  • High risk of data breaches

The Solution

Veriafy's privacy-preserving approach enabled:

  1. **On-device vector extraction** - Documents never leave user devices
  2. **Cloud classification** - Only vectors sent for fraud analysis
  3. **Instant decisions** - Sub-50ms response times
  4. **Full audit trail** - Without storing personal data

Implementation

The integration took just 3 weeks:

# Client-side (mobile app)
vector = veriafy.extract_vector(document_image)

# Server-side def verify_document(vector): result = veriafy.classify(vector, model="veriafy/fraud-detection") log_decision(result.vector_id, result.action) return result ```

Results

After 6 months of production deployment:

  • **94% reduction** in fraudulent documents accepted
  • **Zero GDPR incidents** - No personal data exposure
  • **3x faster processing** - From 500ms to 150ms average
  • **€2.4M saved** in fraud losses annually

Customer Quote

"Veriafy allowed us to implement state-of-the-art fraud detection without compromising our commitment to user privacy. It's the only solution that met both our security and compliance requirements."

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— Chief Risk Officer

Learn More

Contact our enterprise team to discuss how Veriafy can help your organization achieve similar results while maintaining full regulatory compliance.

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