RATO Partners iDenfy to Accelerate Secure Online Banking Onboarding
Lithuania’s RATO Bank has taken a significant step in modernising its customer acquisition process, announcing a partnership with iDenfy, a RegTech firm specialising in ID verification and fraud prevention. The collaboration embeds iDenfy’s AI-powered digital onboarding for banks directly into RATO’s newly launched mobile application, allowing new customers to verify their identity and open an account in less than three minutes from any smart device.
RATO, a fully licensed specialised bank founded in Lithuania in 1996, has spent nearly three decades building its reputation as a trusted financial institution. Its current suite of services spans deposits, loans, SEPA instant payments, and internet banking. As its client base expands, so does the pressure to onboard new users efficiently while staying ahead of increasingly strict KYC and AML regulatory requirements, and the growing threat of synthetic fraud.
The case for automating that process was clear. Traditional verification methods depend heavily on manual review, making them slow, costly, and prone to human error. For end users, that friction often translates to lengthy wait times, a poor first impression that can push potential customers away before the relationship even begins.
The decision to bring iDenfy into the fold was also practical. The RegTech company already had existing integrations within Lithuania’s banking technology ecosystem, including compatibility with RATO’s core banking system suppliers Forbis and Lenders, meaning a faster, less disruptive integration path from the start.
iDenfy’s identity verification solution supports over 3,000 document types across more than 200 countries, covering everything from passports and national ID cards to driving licences and residence permits. The platform uses advanced facial recognition and 3D liveness detection, backed by a 24/7 internal review team that the company says delivers 99.9% accuracy. Critically, RATO only pays per successfully completed verification session, not for attempts that fail due to poor lighting, mismatched faces, or flagged suspicious accounts, making the cost structure particularly efficient at scale.
Beyond identity checks, RATO also activated iDenfy’s AML screening and monitoring module. The system taps into international sanctions lists including Interpol, Europol, the FBI, the NCA, the World Bank’s FSE list, and other law enforcement databases. For adverse media checks, iDenfy operates its own proprietary search engine, indexing over 20 million news sources from major search engines and supporting multiple languages to improve accuracy across different geographies.
The real-world impact for customers is tangible. Where onboarding once required visiting a physical branch or mailing in paper documents, the entire process now runs through a smartphone in a single session. That shift positions RATO squarely in line with what digital-first banking customers now expect as standard.
“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,” a RATO spokesperson said.
Domantas Ciulde, CEO of iDenfy, added that the partnership demonstrates how the right technology can simplify regulatory compliance while opening doors for global scale. “Our platform was built to provide financial institutions the tools they need to onboard clients securely and efficiently, without sacrificing time or effort,” he said.
As financial institutions worldwide race to move services fully online, the RATO–iDenfy tie-up offers a working blueprint for how legacy banks can embrace AI-powered digital onboarding for banks without compromising on compliance or security.
