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Bank
Problem
Endless manual process
Expensive contractors
Piece meal processes
ThreatMinder
Ingested their existing KYB Data
Provided combined KYB Risk Attributes
Real-Time API for onboarding and Monitoring
Operational UI to simplify processes
Result
27%
Faster onboarding29%
Decrease in fraud/write-offs47%
Decrease in contractor and manual process costs17%
Increase insales
59%
Decrease in reputational issues
Merchant Provider
Problem
In efficient onboarding for merchants
Legacy processes and resulted in long onboarding times
Missing data resulted in higher write-offs and fraud
ThreatMinder
Provided data sets
Data risk attributes augmented
Real-time data API
Operational UI
Result
34%
Less onboarding costs19%
Decrease infraud/write-offs
41%
More proactive finding of trouble merchants37%
Lower costs for manual processes22%
Lower regulatory fines54%
Decrease in reputational issues
Security Organization
Problem
Legacy processes hadn't changed in years
Costly onboarding and monitoring
Data being ingested into multiple systems
Revenue decreased due to long onboarding times
Wanted to expand revenue streams with merchants - value-added services
Blindsided by merchant trouble due to lack of proactive monitoring
ThreatMinder
Ingested their existing data
Augmented with digital data
Integrated data risk attributes and standardized them
Provided white label SaaS Risk service to end customers
Result
22%
Lower fraud31%
Lower regulatory fines71%
Decrease in reputational harm instances33%
Higher revenue generated from merchant customers26%
Faster onboarding times
Financial Institution
Problem
Spending endless resources on contractors
Manual processes cost time
Manual processes miss risk factors
Piece meal processes limit pro-active risk posturing
ThreatMinder
Real Time Data API
AI based Risk Attributes
Augmented Digital Data
Operations UI
Result
Limited
need for manual processes33%
Contractor expenseeliminated
48%
More proactive notification of problem merchant/customer13%
Higher revenue due to faster onboarding41%
Lower regulatory and reputational harm35%
lower overall KYB expense