Case Study: PassFort boosts fintech client pass rates by 4.6% with GBG

PassFort boosts fintech client's pass rates by 4.6% with GBG

PassFort, a web-based compliance solution for onboarding customers in regulated markets, needed to help one of its fintech clients handle rapid growth without increasing KYC headcount or costs. The client was losing more than 7,000 customers per quarter due to drop-off during manual KYC reviews, creating pressure to improve Straight Through Processing (STP) and deliver a faster, smoother onboarding experience. GBG was the vendor supporting this effort.

GBG helped by becoming the first data-check provider in PassFort’s client’s KYC waterfall, replacing the previous “first wash” provider with one that offered more data sources and fewer secondary checks. This increased first-attempt pass rates, reduced manual intervention, and improved the customer journey. As a result, the client’s STP pass rate rose by 4.6%, enabling an extra 115 new customers to be onboarded each month while saving time and money.

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