Enhanced digital onboarding | 15 minutes to decisioning

Applying external data to expand across 14 markets

The rise of digitally native financial services technology is setting a new standard in customer expectations and driving a much faster speed to market.

Firms that fail to adopt new, data-driven practices will find it harder not only to acquire new customers, but also to retain the customers they have.

The client is a leading global payments and shopping service that provides smarter, more flexible purchase experiences for its rapidly growing customer base. They offer direct payments, pay-after-delivery options, and installment plans that let customers pay when and how they prefer.

Overview

Demyst deployed a fraud solution that maintained trust and security while managing large volumes of personally identifying information (PII) for its client.

The clientʼs initial success in its home region was built on centralized credit bureau information and deep historical customer transaction data that was challenging to replicate in other countries. Working with Demyst enabled the client to enter new markets in just 2–3 weeks.

The collaboration enabled priority market integration and schema standardization to deploy credit and KYC solutions through a single API, regardless of jurisdiction. This solution required a sophisticated orchestration layer that managed multiple language, data, and matching requirements.

It was ultimately scaled to serve millions of consumers — a customer base that includes 90 million active retail customers across 250,000 merchants in 17 countries — with no latency issues.

As the client served customers in a larger number of regions around the world, they had to meet different regulatory requirements for Europe, the United States, Australia, and New Zealand.

The clientʼs internal teams had been managing individual vendor relationships to acquire the data necessary for anti-fraud, KYC/KYB, identity verification, and credit decisioning processes. This involved more than 80 globally distributed vendors, and the diffusion of information introduced a lack of standardization across sources.

Under the clientʼs previous workflows, additional effort was required to monitor the performance of individual data sources and develop contingency plans.

Customer Outcomes

Utilising data to drive efficiency

The desire to manage data relationships more efficiently was the driving force behind this clientʼs discussions with Demyst, seeking to benefit from international experience and global data coverage. Demyst had developed in-depth, hands-on knowledge of use cases and data by implementing previous customer solutions. This knowledge of target jurisdictions was useful for lead acquisition, fraud prevention, and compliance processes.

The client had set deadlines for entering new markets that aligned with strategic merchant partnerships, its own corporate strategy, and seasonal opportunities. Demyst delivered rapid country rollout of the desired data solutions. Complete integration was accomplished in less than a month. The increased scalability and flexibility of Demystʼs services also offered real-time performance monitoring across all data products in excess of the clientʼs internal thresholds.

The Demyst platform provides access to thousands of data connectors from hundreds of data providers. These capabilities were used to support anti-fraud, underwriting, and KYC processes. It meant less time required for landscaping and testing data from new sources, simplifying what had previously been extended procurement and onboarding processes.  

Solutions Delivered:

Multiple data providers through one API

Fraud

Credit

eKYC