Case Study: NOVO achieves under-10-minute account opening and 50% fewer manual reviews with Alloy

Novo - Customer Case Study

NOVO, a New York–based, mobile-first business banking platform for entrepreneurs, faced slow, manual onboarding that depressed conversions, retention, and revenue. To modernize account opening and make faster digital decisions, NOVO partnered with Alloy and implemented Alloy’s API, data-driven workflow management tools, and real-time decision engine to streamline KYC and account onboarding.

Alloy integrated multiple data sources through a single API and centralized decisioning in a rules engine so applicants could open accounts from their phones in as few as 5–10 minutes. The Alloy solution cut manual reviews by 50%, enabled 68% real-time decision automation, doubled good-customer auto-conversion, and let NOVO scale growth while keeping back-office and compliance overhead low.

NOVO

Tyler McIntyre

Chief Technology Officer & Co-Founder