OWI Case Study

Verification Vendor Assessment and Selection

Share on facebook
Share on twitter
Share on email

Challenge:

OWI engaged a global payment processing company to explore vendor capabilities in support of their expansion into developing markets. Specifically, the client was seeking alternative vendor solutions to augment their existing IDV stack.

The core business is based on simple, fast, and frictionless onboarding of new merchants. Expanding into profitable international growth markets have several obstacles:

  • Lack of information regarding available IDV vendors
  • The ability to scale customer onboarding and IDV operations

The Action

The engagement included developing a survey and due-diligence methodology (for evaluation of IDV vendor services at scale via API) and a ranked vendor list.

OWI conducted a three-phase engagement providing the following:

  • Current state assessment and strategic customer onboarding program recommendations
  • Vendor assessment methodology, including a comprehensive list of IDV vendors
  • A prioritized list of vendors for the Indian IDV market

The Outcome

Our client received a current state assessment (CSA) detailing the customer onboarding program(s) across people, processes and technology, vendor selection methodology and accompanying model, as well as detailed recommendations for improving business operations. Utilizing VPN geo-spoofing techniques to perform remote testing of onboarding workflows for non-US customers, in-country surveys, and open commentary from industry peers, we were able to adequately assess each vendor, selecting 4 vendors for pilot.

As a result of our engagement, our Client went to pilot with 4 vendors, selecting one, which is now integrated into their stack. Utilizing a new vendor, enabled Indian verification rates to increase by over 15% and costs to drop from $1.25 per verification to $.05, a savings of $1.20 per verification or $3M/month.

Related Content
Case Study: Competitive Landscape

Case Study

Case Study: Competitive Landscape

Case Study: Competitive Landscape Assessment for IDaaS Provider

Case Study

Competitive Landscape Assessment for IDaaS Provider

Case Study: Verification Vendor Assessment and Selection

Case Study

Verification Vendor Assessment and Selection

Start a
Conversation

Optimize your business.
Stand out from the competition.

Start a Conversation