Case Study: Griffin cuts due diligence from one day to 12 minutes with Xapien

Investigations reduced from an average of one day to 12 minutes for data gathering

Griffin, a financial technology company offering a banking-as-a-service platform, faced a significant challenge with its due diligence process. Manually conducting enhanced due diligence, including adverse media screening and sanctions checks on prospects and suppliers, was a major drain on resources. This vital but resource-intensive task took at least one full day per prospect, creating friction for customers and slowing down the rapid growth of the VC-backed startup. They turned to vendor Xapien for a solution.

By implementing Xapien's automated research tool, Griffin revolutionized its process. Inputting a name takes seconds, and Xapien returns a detailed, evidence-based report in under 12 minutes. The solution highlights direct risks, allowing compliance officers to quickly analyze the findings. This slashed the investigation time from a day to under an hour, drastically reduced customer acquisition costs, and enabled the onboarding of 23 new suppliers in a year. Xapien provided Griffin with efficiency, confidence, and a clear audit trail for its due diligence.

Griffin

Alex Nash

Money Laundering Reporting Officer