Prospective members filled out web forms, but identity verification and credit checks were conducted manually by credit union staff during business hours. This manual workflow resulted in a three-day onboarding delay, causing over forty percent of digital applicants to abandon their membership applications.
Streamlining Digital Customer Onboarding and KYC Verification for a Regional Credit Union
A credit union with fifty thousand members needed to modernize its paper-heavy membership application process to attract younger digital-first members.
Challenge
Solution
FlipWorks built a fully automated digital onboarding workflow integrated with third-party KYC, document verification, and credit bureau APIs. Applicants upload ID documents and take a selfie on their smartphone; the system verifies identity, runs automated compliance checks, and opens new accounts in under three minutes.
Result
- Reduced new member account opening time from three business days to under three minutes online.
- Decreased applicant onboarding drop-off rates significantly for digital membership campaigns.
- Automated identity verification and sanction screening, reducing manual staff review workload.