Risk Advisory

Digital On-boarding & Underwriting

Increased penetration of digital products redefines customer expectations across industries. Customers in Banking, Telco, Insurance more and more require instantaneous and seamless experience be it for an online or offline customer journey. To keep up with the trend, it is imperative for organizations to incorporate new technology and advanced analytics into existing underwriting and customer onboarding processes.

We at Adastra Business Consulting have extensive experience with Onboarding and Underwriting from more than 80 successfully delivered projects covering onboarding and underwriting of all customer segments from private individuals to large corporates in the past 5 years.

What We do?

Our services cover end to end onboarding and underwriting process optimization and digitalization, including off the shelf technology, if needed. We aim to shorten the onboarding journey, increase approval rate and decrease overall onboarding costs as well as risk costs. Our standard project approach covers:

  • deep review of the organizations entire sales, onboarding and credit origination processes, risk policies and operations
  • review of data availability and usability for scoring and implementation of AI/ML use models
  • current organization structure and availability of the skill-set necessary for maintenance of modern on-boarding and underwriting practices
  • deep data analysis and definition of suggestions in terms of technolgy support, approval process automation, data gathering, usage of AI/ML and credit policies adjustments - primarily KO criteria, blacklists, credit capacity, risk based pricing, collateral assessment, fraud detection
  • quantification of impact of the adjustments and preparation of prioritized roadmap for implementation of the suggestions
  • support with implementation of the adjustments and delivery "off the shelf" technology, if new technology is required to improve the process

Underwriting

Modern underwriting is a data driven, continuously monitored and regulalry adjusted process. In a correct set-up, current technology allows reliable automated decision making within a second with minimum information provided by the customer, rather utilizing information about customer behavior automatically obtained during the application process. We help organizations to design and implement reliable, data driven and customer friendly underwriting processes.

Digital Onboarding

Seamless and instantenous customer journey that takes seconds and requires minimum information from the customer is a new norm when it comes to customer onboarding, be it an online or offline process. We provide "off the shelf", easily adjustable solutions for digital onboarding suitable for both online and offline customer onboarding processes that could be set-up in several weeks.

eKYC

It is essential for organizations to reliably identify a customer during the onboarding process. Failing to do so, might open the door for serious crimes such as fraud, money laundering or financing of terrorism. Adastra Business Consulting offers both off the shelf solutions for eKYC consisting of ID card OCR, liveness detection and face recognition as well as custom development of eKYC measures accustomed to specific onboarding processes of your organization.