Account Opening Protection for IBL Banca

About IBL Banca

IBL Banca is the parent company of the eponymous Banking Group and has a presence across Italy through a network of branches, agents, and partners. Founded in 1927, the bank has distinguished itself over the years with a service model centered on direct and multichannel customer relationships, and a business model primarily based on lead generation and CRM.

Specializing in salary-backed loans—an area where it is a leading operator—IBL Banca has gradually expanded its offerings to include collection products, particularly interest-bearing accounts, making it one of the most competitive institutions at the national level. With its ControCorrente current account, IBL Banca introduced a comprehensive digital and interest-bearing account to the Italian market in 2021, during a period of zero interest rates. This account in fact provides all daily use services and offers interest on available funds.

The bank has also embarked on a diversification strategy into new businesses through its subsidiaries and strategic partnerships, with a particular focus on innovation and development in the non-performing credit market.

The IBL Banca Group employs approximately 900 people and includes BCA Banca (100% owned by IBL Banca), Banca di Sconto (67% owned by IBL Banca), IBL Real Estate, and IBL Servicing (both 100% owned by IBL Banca), Moneytec (60% owned by IBL Banca), and Credit Factor (50% owned by BCA Banca and 50% by Europa Factor). Additionally, IBL Banca holds a 40% stake in Net Holding, a company controlled by Poste Vita (Poste Italiane Group). IBL Assicura, also controlled by IBL Banca, engages in the placement of insurance products.

The Challenge

Following increased marketing investments in digital customer acquisition campaigns, IBL Banca saw a significant rise in new account requests and started looking for a trusted tech partner to expedite the verification of these applicants.

Similar to other fast-growing fintech providers, the bank needed to find the right balance between minimizing regulatory risks of new account openings and maximizing returns on customer acquisition campaigns.

Additionally, IBL Banca was looking to reduce fraudulent activities by blocking low-quality and suspicious sign-ups without impacting the customer journey. By adopting a solution to pre-screen leads in real-time, the bank could also spot high-value customers to fast-track.

Key Objectives:

• Reduction of fraud attempts - Identify and block low-quality and fake sign-ups
• No impact on UX - Evaluate requests with no impact on the customer journey
• Real-time decisioning - Adopt a solution to pre-screen sign-ups in real-time

The Solution

Utilizing Trustfull’s Digital Risk Intelligence Platform, IBL Banca was able to enhance and
strengthen its account opening process without impacting the customer onboarding experience.

Trustfull’s risk engine, tailored to IBL Banca’s specific risk criteria, enabled the team to seamlessly
and instantly separate low-quality from high-quality leads during sign-up.

Example of digital signals used to determine a lead's risk score:

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The Trustfull implementation journey was divided into three phases:With Trustfull, IBL Banca can now accurately determine the quality of a new account request in seconds.

• Quick start: IBL Banca inserted Trustfulls’s snippet on its landing pages. The model immediately started gathering data using JavaScript on the selected pages.
• Custom risk modeling: Trustfull and IBL Banca worked together to optimize the scoring model based on initial results and sign-ups identified as low-quality.
• Full API integration: In the third phase, Trustfull’s signals were fully integrated into IBL Banca’s CRM products via API. By pre-screening account requests in real-time, IBL Banca was able to route high-quality sign-ups towards review, while blocking low-quality and fraudulent users from entering its commercial pipeline.

With Trustfull, IBL Banca can now accurately determine the quality of a new account request in seconds.