OWI Case Study

FinTech Market Expansion of IDV Capabilities Improves Pass Rates

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The Challenge:

How do you scale your business globally while curating a user experience consistent with the legislative, data accessibility, and cultural nuances of international markets? 


An international payments FinTech has a reputation for curating an efficient and coveted user onboarding experience in the markets in which it operates. The organization was proliferating by expanding into multiple developing countries and wanted to mirror the programmatic approach to user onboarding that was contributing to their recent success. A lack of information regarding available identity verification (IDV) solutions was a hindrance to continued expansion. OWI was engaged in providing the FinTech’s compliance leadership team with a repeatable international IDV framework and to improve its customer onboarding operating model across South East Asia.

The Action

To enable our client’s ability to scale their digital identity framework across international e-commerce and sharing economies, the OWI team sought solutions that would:

  • Increase traction of payments processing and alternative banking products/services in emerging markets
  • Flag nuanced government regulations and unique risk behaviors specific to each region
  • Identify solution providers with data coverage across region-specific IDV waterfalls


Our client had an aggressive market expansion strategy that required detailed and accurate IDV intelligence in each country of interest. To scale their payments operations, the compliance team worked alongside OWI to gain a comprehensive understanding of the country-specific data collection requirements, legislation, integration capabilities, and cost parameters associated with global IDV solution providers.


Our approach included a market risk assessment for each territory under consideration to uncover notable market players, growth opportunities, negative news, consumer privacy concerns, regulatory pressures, and user adoption trends. 


In the first phase of the engagement, OWI provided actionable recommendations on launching in each market, including user experience design flows, technical architecture documentation, and policy guidelines for regulatory compliance.  In the following phase, OWI developed a detailed vendor assessment to identify IDV partners for international expansion.

The Outcome

Using OWI’s proprietary vendor ranking methodology, our team empirically scored survey responses and identified a select number of suitable vendors for testing. By incorporating VPN geo-spoofing techniques to perform remote testing of onboarding workflows for non-US customers, in-country surveys, and open commentary from industry peers, OWI was able to assess each vendor’s IDV capabilities and select the top four vendors for the pilot.


As a result of the engagement, our client secured additional funding to begin market expansion into three of the eight countries OWI analyzed. Our client also piloted four IDV solution providers, selecting one, which is now integrated into their stack. The long-term results enabled our client to improve their IDV pass rates by 12-15% and reduce verification costs by ~$3 million per month.

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