Case Study: IncredibleBank automates 90% of account openings with Alloy

IncredibleBank accelerates growth with Alloy’s Identity and Fraud Prevention Platform

IncredibleBank, a digital-focused community bank based in Wausau, Wisconsin, was struggling with a manual account opening process that relied on a single data source and required extensive employee review. As application volumes grew and decision times stretched from two days to as long as five, the bank needed a better way to improve onboarding speed, reduce subjectivity, and strengthen fraud detection. It turned to Alloy’s Identity and Fraud Prevention Platform to modernize its digital onboarding and risk decisioning.

Alloy implemented a more automated account-opening workflow that combined multiple data sources for KYC, KYB, and fraud checks, giving IncredibleBank a more complete risk picture for each applicant. The results were significant: 90% of account openings were automated, application review time was reduced by 88%, and the bank delivered instant decisions instead of multi-day waits. Alloy also helped improve fraud prevention and freed staff to focus on higher-value sales and growth work.

IncredibleBank

Phil Suckow

VP of Innovation