A leading financial institution aimed to improve its external account verification process to reduce reliance on microdeposits, speed up onboarding, and simplify funding new accounts. By adopting MX’s Instant Account Verifications, the institution enabled secure, real-time account and account owner verification. This resulted in more than double the success rate of completed verifications, showing nearly a 70% improvement in real-time verification. The streamlined process also led to faster funding, higher customer satisfaction, and a 12% reduction in complaints related to account linking.

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