Value Stream:
‍Onboard

Centric gives financial institutions the platform to predict risk, personalize experiences, and streamline operations—without building complex infrastructure.

Overview

Onboarding is where trust is built or lost. Banks often face slow KYC cycles, high abandonment, and fragmented systems. Centric’s AI platform unifies onboarding, automates verification, and personalizes experiences, reducing friction, fraud, and manual workload.

Validated Key Statistics

Up to 60% of applicants abandon digital onboarding before completion (BAI, 2024)

Synthetic identity fraud is the fastest-growing financial crime in the U.S. (Federal Reserve, 2023).

AI-driven onboarding can reduce manual KYC review time by 50% (McKinsey Digital, 2024).

Customers who complete onboarding in under 5 minutes are 2× more likely to stay active (Accenture Banking Consumer Trends, 2023).

Disjointed Flows

ID verification, credit checks, and onboarding steps run on separate systems, creating long wait times.

Excessive Friction

Legitimate users face multiple verification steps that slow down onboarding.

Low Intelligence

No real-time logic to tailor journeys by behavior or risk signals.

Manual KYC Review

Ops teams manually verify documents and handle edge cases, causing delays and inconsistency.

Rules-Based Risk Logic

Static rules can’t keep up with emerging fraud tactics or exceptions.

High Drop-Off Rates

Customers abandon when steps feel repetitive or disconnected.

Customer Churn

Every extra minute in the flow increases abandonment risk.

Generic Experiences

Everyone goes through the same static flow, regardless of context.

Operational Overload

Growing customer volumes increase review queues and errors.

Synthetic ID Fraud

Fraudsters bypass outdated verification systems.