OWI Case Study

Vendor Assessment

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Challenge:

A U.S. focused fintech organization was exploring alternative document verification vendor solutions to augment their existing identity verification (IDV) stack. The company, who works with supporting banks to improve operations and customer experience, engaged OWI to improve their existing digital account opening process.

The Action

OWI conducted a three-phase engagement to perform due diligence and evaluate IDV solutions at scale via API. As part of the engagement, OWI was able to:

  • Develop IDV performance testing methodology
  • Evaluate IDV solutions via in-person performance testing
  • Evaluate IDV solutions that resulted in a comprehensive vendor assessment of document verification solutions that meet the client’s core business requirements
  • Enhance privacy and security in the digital account opening process without producing additional customer friction

The Outcome

Our client was able to select and implement a document verification solution that improved the customer experience at digital onboarding. As a result, our client was able to improve the rate by which customers were able to pass through their existing IDV process. We were also able to provide our client with a better understanding of the broader identity ecosystem, allowing them to explore additional identity initiatives beyond the scope of identity verification.  

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