Rentoza takes its customer service to a new level thanks to automated ID Verification
Chief Marketing Officer and Co-founder
GetID has helped us to get rid of potential fraud within our system and create a robust process to ensure that we minimize fraud in our base. We’ve been able to take away 90% of fraudulent transactions.
Case and History
Rentoza is a fast-growing start-up from South Africa. The company is inspired by the idea of making expensive essential goods more accessible to all consumers. “South Africa has a very aspirational consumer, but people can’t afford the items they want. Everyone wants the best, but most can’t afford it. We classify essential goods as a mobile phone or a washing machine for example. These are the basics of normal life nowadays and allow you to live a progressive life”, – said Mishaan Ratan, Rentoza’s CMO and co-founder.
The team set out to find a solution to this problem but took a completely new approach. “Loans are not our method, we had to do something fundamentally different, allowing thousands of people to utilise the items , but without expensive loans,” notes Mishaan.
The result has been a service unique to the region. It is a premium product subscription with flexible conditions and affordable prices. Some products can be used for one or three months and then returned. There are also other subscription format, for 6 or 12 months, after which the customer can exchange it for a newer model as part of the next subscription at a discount, depending on the quality of the device when returned. Importantly, Rentoza also takes care of the recycling and recovery of used goods, returning them back to the market ecosystem.
The company uses a data-driven approach. At the heart of the solutions is working with the multiple data the platform receives. In particular, it allows them to select more in-demand products, to take into account specific user preferences and capabilities, for example, depending on the age of the customer and shopping experience. All this has ensured tremendous growth for the project, literally growing the company several dozenfold in just one year.
Rapid growth led to new challenges for the team. Namely, it was necessary to set up a quality and fast customer verification process.
Process and Results
Checking and verification are some of the most important processes of the Rentoza service. At the beginning of the project, the team used traditional ways for vetting and checked everyone manually. It was a long and costly process. The client would send a lot of documents to access the service, and the team would double-check them and call with corrections. So, it could take several days to onboard a customer. Moreover, the managers were plagued by errors in document processing, and the number of people contacted was increasingly likely to raise suspicions of fraud. Neither the team nor the customers were happy with this situation. It seemed that automating the process was an absolute dream.
The developers have broken down the process into detailed steps and found ways to optimize each of them. The GetID service, part of Checkin.com Group, took care of document verification and liveness detection checks. It took about one week to implement and test the service, and the first results were available almost immediately.
Reduce fraudulent attempts and ensure fast verification with a growing flow of customers.
The service can now cope with the growing flow of customers without holding them up at the front door. Operators are relieved of the routine work that was causing a lot of errors and taking up a lot of time. Human resources are being used for more important tasks for the customer.
The team noted a significant reduction in fraud attempts. The implementation of online verification has helped eliminate approximately 80-90% of fraudulent transactions on the platform. Note that GetID has high expertise in ID Document Verification of the submitted document and helping to ensure that people are not using someone else’s IDs to get access to products.
High-quality processing of data from documents and easy customisation made it possible to quickly link information received from customers to the company’s financial system. When viewed from the perspective of the entire process, GetID ensured a smooth and quick transition from one stage to the next, providing the system with quality data.
The quality of customer service has been taken to a new level. Customers no longer have to waste time collecting and sending documents and then wait several days for approval. The entire procedure is online and takes no more than 5 minutes. And this is really important for Rentoza’s service because an item taken on subscription might be urgently needed: for example, it might be a good laptop when the client has to switch to a remote work mode quickly, or a big TV when a large company is about to cheer on their favourite team moving up the world championship standings.
As a result, the team has established a robust process that monitors fraud attempts, automates data transfer to its own accounting system and, most importantly, improves the quality of customer service by reducing their time spent on identification procedures.
Significant improvement in the quality of customer service by reducing their time for identification procedures.
ID documents verification
document validity and authenticity
Cloud-based verification page
In one week
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