Remitly is a mobile payments service that makes it ultraconvenient to perform person-to-person international money transfers from the United States. The company’s current focus is on the Philippines, where mobile adoption skyrocketed with $10-12 billion being sent from the U.S. every year via money transfers and offline channels.
Through offering both desktop and mobile money transactions, Remitly quickly saw a need to increase their identity verification processes. By verifying their customers’ information, they hoped to push good transfers through faster and flag the possible fraud for review. Given the mobile nature of their business, Remitly set out looking for a solution that could enhance customer protection and fulfill Know Your Customer (KYC) requirements for phone number verification.