Case Study: Visa streamlines SMB onboarding with Signicat RiskFlow Orchestration

Visa streamlines SMB onboarding by 80% with Signicat

Visa, a global payments technology company, faced the challenge of helping financial institutions (FIs) meet the demand for a fully online application experience from small and medium-sized businesses (SMBs). FIs struggled with manual, paper-based onboarding processes that were inefficient, created a poor customer experience, and made it difficult to manage lending risk effectively. To address this, Visa partnered with vendor Signicat and its RiskFlow Orchestration product.

Signicat's solution provided FIs with a single API to access critical KYC, KYB, and AML data from over 200 sources, automating the onboarding process. This integration resulted in an 80% automation rate for onboarding processes. Furthermore, many clients saw a reduction in fraud rates of up to 50% and an uplift in verification rates of up to 40%, significantly streamlining operations and improving security.

Visa