Case Study: Neobridge

Find out how Neobridge overcame the challenges linked to traditional banking structure’s compliance requirements and minimized costs by switching to a fully automated KYC/AML workflow.

Results we achieved in our partnership


increased identity verification pass rate


reduced verification costs due to iDenfy’s unique pricing model

Short Recap

Before iDenfy:

  1. There were compliance concerns related to decentralized wallets and the real banking payment infrastructure.
  2. Traditional financial institutions had their own policies related to enabling bank transfers.
  3. It was challenging to meet license requirements, ensure compliance, and handle tax obligations all at once for Neobridge.

After iDenfy:

  1. Neobridge accelerated their service launch while ensuring complete compliance.
  2. Achieved the goal of verifying more customers in less time.
  3. Automated the AML screening process with built-in PEP and sanctions checks.

The Challenges

Neobridge faced some challenges in its operations. Meeting the requirements for licenses, adhering to Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations, and handling tax obligations across various regions demanded careful attention and substantial resources. Additionally, the collaboration with traditional financial institutions to enable bank transfers added another layer of complexity for Neobridge’s team. 

The connection between a decentralized wallet and the real banking payment infrastructure created some compliance-related concerns for Neobridge.

Neobridge found it challenging to navigate the global environment of compliance requirements and regulations, which vary across jurisdictions for both cryptocurrencies and traditional banking services. The company found that banks typically follow their own compliance standards and risk assessment procedures.

Forming partnerships and ensuring that their product aligns with the compliance requirements of banking partners proved to be a time-consuming and intricate process, mainly because banks were not used to dealing with Neobridge’s innovative business model.

Neobridge aimed to minimize internal compliance operation workflow and lift the burden by implementing automated KYC/AML software. 

Their goal was to:

  • Have a third-party team of experts that would help navigate complex regulatory landscapes.
  • Establish robust AML and KYC procedures.
  • Prioritize security with user experience in mind. 
  • Have more free time to continue fostering banking partnerships.

“Launching a product that offers a decentralized IBAN and enables traditional bank transfers from decentralized crypto wallets requires extensive legal and compliance expertise,” said Rimantas Petrauskas, AML officer at Neobridge. “We managed to ensure our product’s success and build trust among users with the help of iDenfy’s KYC and AML solutions.” 

The Solution

Since launching the project in 2022, the complexities surrounding compliance issues in the integration of a decentralized IBAN and traditional bank transfers with decentralized crypto wallets have delayed Neobridge’s roadmap.

To address the complexities involved in achieving the ultimate goal of offering decentralized IBANs, Neobridge adopted a phased approach. 

They divided the goal into several sub-steps, which included enabling customers to purchase crypto using credit cards and receive it directly in their decentralized wallet, among others. Despite that, they still needed to find a solution that could automate the KYC process and enable them to focus more on building their own platform and adhering to their roadmap. 

In the end, iDenfy played a vital role in assisting the banking and asset management platform to achieve KYC/AML compliance while helping enhance conversion rates.

While Neobridge tried out a number of RegTech service providers on the market, iDenfy stood out the most for the following reasons:

  • Transparent and responsive support team
  • All-in-one KYC and AML software for ensuring complete compliance
  • Easy-to-understand solution and intuitive interface for the internal team
  • Unique pricing model where failed and denied verifications are free
  • Seamless end-user experience and short IDV processing time

iDenfy’s comprehensive fraud prevention hub empowers Neobridge to conduct KYC and AML processes on a global level. By integrating iDenfy’s AML checks, Neobridge uses AML screening for international sanctions, PEPs, and watchlists.

In addition, iDenfy provides ID verification with advanced liveness detection and face-matching capabilities. To ensure maximum accuracy, they have an in-house team of KYC reviewers who manually cross-verify each verification result 24/7.

“With iDenfy’s assistance in streamlining the compliance procedures, we were able to successfully navigate through various operational complexities while staying on track with their project milestones,” added Rimantas Petrauskas.

The Results

Every customer prefers to complete the process swiftly and effortlessly without having to contact support or verify their identity once more. With iDenfy, Neobridge successfully achieved its goal of verifying more customers and building a fully automated AML screening process. This helped reduce both time and operational burden.

iDenfy’s AI-powered AML screening software empowered Neobridge to identify suspicious signals and detect red flags that may not be visible to the human eye. Instead of relying on manual comparison of behavioral data or scrutinizing ID photos, iDenfy’s KYC solution automatically detects potential bad actors, saving Neobridge’s team a lot of hassle.

Most importantly, iDenfy’s involvement has been instrumental in supporting Neobridge during the launch of its services.

Thanks to iDenfy’s full-stack KYC solution, Neobridge made significant improvements to its customer onboarding process:

  • They managed to reduce verification time to just 2 minutes, resulting in an increased pass rate of 77%
  • Additionally, iDenfy’s solution helped Neobridge cut down identity verification costs by 67%.

“Through the use of iDenfy’s KYC and AML services, Neobridge can confidently verify the identities of its customers, authenticate their documents, efficiently conduct due diligence checks, and screen for sanctions and adverse media.”

Adrien Brousse, Director at Neobridge

🟣 More About Neobridge

  • Neobridge aims to provide decentralized IBAN services for cryptocurrency investors.
  • With Neobridge, users can maintain control and sovereignty over their wealth by using a decentralized IBAN and storing their funds in a decentralized wallet.

According to the company, the current method to use cryptocurrencies in the real world involves converting them into fiat and receiving it in a bank account or using a crypto debit card, which requires depositing crypto.

Ultimately, this means users always have to depend on an intermediary to hold their wealth. However, Neobridge services allow users to initiate real bank transfers in the real world using their decentralized wallet and IBAN, enabling them to pay anyone securely.


About company

Neobridge is a comprehensive banking platform that offers automatic settlement services through IBAN or Crypto-Wallet options, enabling users to maintain control and sovereignty over their wealth.

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