.png)
Flip is Indonesia's leading fintech platform, dedicated to democratizing financial services across the nation. By making transactions seamless and accessible, Flip ensures that every individual, regardless of their background, can enjoy secure and efficient financial experiences in the digital age.
Challenges
Growing User Base Complexity
As Flip's user base rapidly expanded and diversified, the company faced increasingly complex challenges in maintaining security standards while delivering the seamless experience their customers expect.
Promotional Abuse and Fraud
The platform encountered sophisticated fraud attempts, particularly through promotional abuse, requiring enhanced verification methods to protect legitimate users and company resources.
Scale vs Security Balance
Rapid growth created pressure to maintain quick onboarding processes while ensuring robust security measures, particularly challenging in Indonesia's diverse financial landscape.
Solution
Sumsub partnered with Monnai to leverage its Global Consumer Insights Infrastructure, enabling:
Advanced Risk Assessment
Monnai's platform leveraged alternative data sources to provide deep insights into potential customers, enabling more accurate risk assessment in real-time.
Integrated Verification System
The solution seamlessly integrated with Flip's existing infrastructure, allowing for real-time identity verification without disrupting the user experience.
Multi-Source Data Analysis
Comprehensive data analysis from multiple sources provided a complete view of each applicant, enabling more informed decision-making.
Outcomes
Streamlined Onboarding
Monnai's solution significantly reduced onboarding time while maintaining high security standards, enabling Flip to process more applications efficiently.
Enhanced Fraud Detection
With Monnai, Flip can now identify 2000+ fraudulent applications daily, particularly in promotional abuse cases, protecting both the platform and its users. This has led to a massive reduction in fraud risk, allowing them to better manage customer incentives.
Improved User Experience
By balancing security with efficiency, Flip maintained its commitment to accessibility while strengthening its protective measures.
