Zagrebačka Banka: a case study in digital transformation with Cyberneid
Zagrebačka Banka (ZABA), the largest bank in Croatia, has long been a leader in the financial sector. As part of its digital transformation, the bank partnered with Cyberneid to enhance its security, streamline its processes, and reduce fraud, while ensuring compliance with regulatory standards.
The Challenge
Ensuring security and streamlining KYC
With increasing digital threats, Zagrebačka Banka needed to secure its home banking app, M-zab, and improve the KYC (Know Your Customer) process. The bank aimed to minimize fraud while offering its customers a smooth and efficient experience.
The Solution
Identity Proofing with Identikyc
Cyberneid provided a comprehensive solution, integrating three key technologies into the bank’s operations: Identity Proofing and KYC Automation. Cyberneid’s Identikyc allowed the bank to verify customer identities securely through biometric data (such as facial recognition) and identity documents. This eliminated the need for passwords, reducing the risk of fraud and cyberattacks.
- 75% reduction in fraud risk related to identity theft.
- 90% faster identity verification, completed in under 60 seconds.
- 50% reduction in operational costs for KYC compliance.
The results and looking ahead
Thanks to Cyberneid’s solutions, Zagrebačka Banka significantly improved its security, compliance, and customer experience. The integration of identity proofing and automated KYC resulted in:
- 50% improvement in customer satisfaction due to faster, more secure services.
- 80% reduction in fraud risks.
With Cyberneid’s technology, Zagrebačka Banka is well-equipped for the future. The bank can continue to provide secure, efficient services while staying ahead of evolving digital threats. This case shows how innovation can drive financial sector success, keeping customers and institutions secure.
