RATO Bank has partnered with iDenfy to integrate AI-powered KYC and AML screening into its new mobile banking application.
The collaboration sees iDenfy’s identity verification and Anti-Money Laundering screening embedded directly into RATO Bank’s digital onboarding flow, enabling the bank to verify new customers more quickly and securely while meeting regulatory requirements. A key factor in selecting iDenfy was its existing presence within the Lithuanian banking technology ecosystem, including established connections with RATO Bank’s core banking suppliers, Forbis and Lenders, which helped reduce the complexity and time needed to implement the solution.
iDenfy’s platform supports document recognition across more than 16,000 document types spanning over 200 countries and territories, covering passports, identity cards, driving licences and residence permits. The integration also includes iDenfy’s AML screening tool, which provides sanctions compliance checks and pre-screening capabilities. Both KYC and AML case management sit within a single dashboard, allowing analysts to leave notes and access compliance history logs. Where a potential match is flagged, customers can either be reviewed manually or directed through an automated flow tailored to higher-risk profiles.
Founded in 1996 as one of Lithuania’s longest-running credit unions, RATO Bank has grown into a full-service financial institution offering retail and business customers deposits, loans, SEPA instant payments and internet banking. The launch of its dedicated mobile application marks a significant step in the bank’s digital expansion, with customer growth bringing a corresponding need for scalable onboarding and up-to-date compliance infrastructure.
With the new onboarding process now in place, customers can complete identity verification and open an account entirely through their mobile device in under a minute, removing the need to visit a branch or submit physical documents.
iDenfy CEO Domantas Ciulde said, “We recently updated our IDV platform, offering a more seamless approach. Users don’t need to select documents. The IP address is used to detect the user’s country automatically, showing them the correct flow. This has already increased mobile conversion rates by 9% over the past month, and we expect similar results for RATO Bank’s users.”
RATO Bank deputy CEO Jurgita Bliumin said, “At RATO Bank, client convenience and the efficiency of our internal processes are top priorities. Today, a new customer can complete their full identity verification and become our client in a few minutes, entirely through our mobile app. That is exactly the kind of modern banking experience we set out to build.”
iDenfy CEO Domantas Ciulde said, “We are excited to support RATO Bank, as they bring their decades of financial expertise into the digital era. Our expertise in good user experience and seamless KYC solutions will definitely help them scale faster, and we’re excited about their newly launched banking app and its growing customer base.”
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