Last time we measured, on average users spent 19 seconds to finish the entire flow on Mati - which is blazing fast.
Can you explain us what problem you were trying to solve with Mati?
Immediately after we decided to launch Bitclude in Europe, the biggest question was about how to become compliant. Within our industry, any issue with regulators or fraud can kill your business. When you deal with regulators in Europe, having a serious and legit identity provider is the smartest thing to do to your business. So we were looking for a solution that could make us compliant in the eyes of regulators in Europe, as well as making sure we do not have fraud on our platform.
Mainly for two reasons: the simple implementation, and the legal guidance Mati could bring us. In terms of implementation, Mati was just so easy to start with. Their on-demand identity tools provided us with all the checks we needed, and integration was super easy. I could not believe it when my engineers got back to me saying "it's done, we integrated Mati". I would have expected a few weeks of integration, but no, within the same day the integration was done. Mati SDKs are only a couple lines of code to integrate, and their backend integration is super easy. They just tell you if you should accept or reject the user.
In terms of guidance, Mati helped us understand and comply with all the regulators in Europe for KYC and AML in no time. We were so relieved once we got the approval, we were finally in business!
We use Mati for every single user that wants to onboard Bitclude to trade crypto currencies. Our need is twofold, compliance and fraud. Mati user verification flow could answer both needs. Basically, after a new user signs up, he is prompted to start the verification flow. It consists of an official ID upload and a 5 seconds liveness video. Last time we measured, on average users spent 19 seconds to finish the entire flow. Which is blazing fast. Within seconds, our backend receives the user verification data, that consists of 7 KYC/AML checks. If all of them are green, the user is accepted. Otherwise, it is flagged as "manual review" on the Mati dashboard, and our support team contacts the user. So far using Mati, it's really been a great partnership, their legal team was very helpful, and our users get verified almost instantly, without any conversion drop. I highly recommend.
What kind of information do you verify today with Mati?
BitClude is a cryptocurrency exchange platform created in 2017 in Poland by a team of blockchains developers. The mission of the company is to provide a worldwide service of exchanging currencies for all, equally and transparently, and the company have been expanding in the last two years, helping its users to buy or sell crypto in less than 5 minutes, through an integration with banking system platforms. We recently met with its CEO Jakub Wierzcholski to understand why he originally chose Mati to support his business, and how he's using our User Verification platform today.
CEO & Co-Founder @ Bitclude