RATO Bank teams up with iDenfy to scale faster and onboard more users through its updated mobile KYC flow

RATO Bank teams up with iDenfy to scale faster and onboard more users through its updated mobile KYC flow

The partnership enables RATO Bank to verify and pre-screen new clients in real-time, onboarding in under 60 seconds

Delaware, USA (May 11, 2026)

iDenfy, a RegTech company specializing in ID verification and fraud prevention solutions, today announced a new partnership with RATO Bank, a licensed financial institution with nearly 30 years of financial heritage in Lithuania. By integrating iDenfy’s AI-powered identity verification and Anti-Money Laundering (AML) screening into its digital onboarding flow, RATO Bank can now verify new customers faster and more securely, and in full compliance with KYC/AML requirements, through its newly launched mobile banking application.

RATO Bank is an officially specialized bank in Lithuania that provides traditional banking services. Back in 1996, it was founded as one of the country’s longest-running credit unions. Over nearly three decades, it grew into one of the most trusted financial institutions that now offers retail and business clients a full suite of services: deposits, loans, SEPA instant payments, and internet banking via its own dedicated mobile application. As the bank continues to grow its client base, it has grown the demand for onboarding new accounts as well as the need to keep up with the latest regulatory requirements and security for the synthetic fraud scams.

However, the tendency is clear. Financial institutions continue to shift toward fully digital services; therefore, the need for a secure, efficient, but, at the same time, compliant onboarding solution has become critical. The same principle was applied to Rato Bank’s strategy, especially when its team planned to establish the new banking and payments app. Due to the competition and the need of an average user, who now expects a seamless verification process, the account opening needed to happen in real-time. That’s when RATO Bank knew a reliable Know Your Customer (KYC) service provider, preferably with an established name in banking, was needed for the company to scale and remain its top spot in the market. 

The decision to partner with iDenfy was initiated by the company’s existing integrations within the Lithuanian banking technology ecosystem, including RATO core banking system suppliers Forbis and Lenders, helping to significantly reduce the time and complexity to verify users and check regulated compliance. Currently, iDenfy’s all-in-one identity verification solution covers its bank’s strictly regulated requirements. The solution supports recognition of users’ documents from over 16,000+ document types across 200+ countries and territories. From passports and ID cards to driving licenses and residence permits. 

“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,” commented Domantas Ciulde, the CEO of iDenfy. 

The fact that the entire procedure can be finished in a single session is crucial. The new RATO onboarding procedure is substantially quicker, easier to use, and available from any location for end-users. There is no longer a need to visit a physical branch or submit paper documents; customers can use any kind of smart device to complete registration and authenticate their identities in less than one minute.

In addition, RATO chose to implement iDenfy’s AML screening solution, which helps ensure sanctions compliance and an effective, pre-screening ability that enables the financial institution to manage both KYC/AML mismatches under the same dashboard. Analysts working with iDenfy’s solution can leave notes and access compliant history logs. If a trigger is found by the system, the customer can be reviewed manually or can go through an additional, automatically triggered flow that is specifically designed for higher-risk scenarios. In baking, this is vital, as risk management is a dynamic process that requires quick reaction. Otherwise, you’re risking losing customers, which directly impacts revenue. 

“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,” explained Jurgita Bliumin, Deputy CEO at RATO Bank.

“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,” added Domantas Ciulde, the CEO of iDenfy.