2hto onboard a new customer (down from 1 week)
30 minaverage onboarding time today
The challenge
RiskRator is a financial risk assessment and management platform used by banks and financial institutions, aligned with FFIEC, Basel, FATF-GAFI, ISO and COSO standards. One of the most sensitive processes for its banking clients is the risk assessment of every new customer — an analysis that, done manually, could take up to a full week before a new customer could be onboarded.
What WAIA built
- Automated the user assessment process, digitising a workflow that used to be resolved manually across different teams.
- Configured and tuned the infrastructure needed to support the new automated workflow.
The impact
- The time to onboard a new bank customer dropped from a week to 2 hours in the project's first stage.
- With later iterations, the average onboarding time settled at 30 minutes.
- A process that depended on several people's availability now resolves on its own, without losing the control or traceability the industry requires.
