Inefficient manual processes were holding back customer onboarding and putting the brakes on growth
Gig Wage is on a mission to transform how non-traditional 1099 workers get paid. To achieve their ambitious growth goals, the business needs to continually onboard new customers efficiently and securely.
“Success to us is about getting more customers onboarded quickly, because our customers need to pay and manage their 1099 workers in order to thrive. Inscribe allows us to do that seamlessly,” explains Compliance Manager Amy Quarles.
As a trusted financial services provider, the business also measures success in another important way: “By successfully identifying fraudulent businesses and not allowing them onto the system. Moving money is serious business and our credibility is very important.”
On this point, Amy’s team at Gig Wage had an urgent challenge to confront.
Their processes for onboarding and compliance for new customers were manual, labor-intensive, and overall a point of friction and potential risk.
Specifically, when new business customers signed up, Gig Wage’s fraud team had to collect a range of legal documents and verify the business was legitimate. Without any automation in place, Amy had her fraud team manually write out custom emails to each applicant, requesting the required documents.
As a typical, high-growth startup, the Gig Wage team wears many hats. Business applicants (often small and medium sized businesses) typically waited a day or more for that initial email to arrive.
Those applicants did their best to supply the right documents the first time, but if there was any mistake or hiccup, it spiraled into more back-and-forth, which made their onboarding time even longer.
Not only did this create extra work for Amy and her team, but the onerous collection process had the potential to leave customers frustrated. This was not ideal for the brand experience Gig Wage aims to deliver.
“Manual document collection created a poor customer experience and made it more likely that businesses dropped off the application process or lost interest before we’d had a chance to approve them,” says Amy.
The process for detecting and evaluating fraudulent documents was equally laborious. Each document was meticulously scrutinized by the fraud team, which was slow and time-consuming—and created its own problems:
- Because fraud is often invisible to the human eye, manual screening is susceptible to human error.
- The team was wasting hours digging into applications that a fraud detection solution would have recognized as fraudulent in seconds.
The manual process wasn’t just costing Amy and her fraud team wasted time. It was having a financial impact on the business.
“On the rare occasions where somebody got through that was fraudulent, we usually ended up taking a loss,” says Amy.
Amy and her fraud team urgently needed a way to improve the speed and success of the application process, improve fraud detection, and improve the customer experience.
“On the rare occasions where somebody got through that was fraudulent, we usually ended up taking a loss.”
Amy Quarles • Compliance Manager, Gig Wage
Automating onboarding, increasing customer satisfaction, and reducing fraud with Inscribe
Amy and her team implemented the award-winning fraud detection and document automation software, Inscribe.
They had two big goals for Inscribe:
- To automate much of the document collection and screening process, improving efficiency within the business, and reducing fraud and risk.
- To create a self-service onboarding experience, where applicants could submit documents during sign-up—and accelerate the application process.
Thankfully, Inscribe made it easy. To begin transforming their customer onboarding processes, Amy worked with Gig Wage’s software engineers to integrate Inscribe’s easy-to-implement API into their website. This includes Collect, Inscribe’s document collection feature, which is customized to fit Gig Wage’s branding.
“Our software engineers were impressed with how fast and easy it was to integrate Inscribe’s API,” says Amy. “They found it easy to work with Inscribe’s team, too, who were always responsive to their questions.”
With Inscribe’s API in place, Amy and her fraud team connected all the tools and data points they needed to automate document collection and screening workflows.
As a result, their customer onboarding process went from awkward to awesome. Now:
- Customers sign up via the website.
- They enter the modern, encrypted, easy-to-use Collect interface, which requests and retrieves the required documents via a secure portal. This is all created automatically through the API link, with no intervention required from Amy or her team.
- Applicants upload the required documents and an automated screening process instantly fires up.
Suddenly, Amy and her team had the one-touch onboarding experience they needed to accelerate the application process and improve success rates.
“With Inscribe, we instantly made our onboarding workflow a lot more user-friendly and a lot less manual,” says Amy.
“Now, everything’s presented to businesses that apply right away. We're converting more businesses, because they see everything they need to do to apply, without having to wait for emails from us requesting documents.”
As soon as documents are submitted, the API makes a request for Inscribe’s AI-powered fraud detection tools to begin automated screening. Documents are accurately analyzed with superhuman speed, using a range of checks including document forensics, database checks, and pattern matching.
Within seconds—and with zero labor from Amy or her fraud team—Gig Wage has detailed data on whether documents can be trusted, or whether documents or information have been falsified.
“The feature we like the most—which was one of the main reasons we picked Inscribe—is its powerful metadata verification,” says Amy. “If a document has been changed in any way, Inscribe picks it up and clearly shows us where the issues are, such as a changed date, name, or address.”
Recently, Gig Wage added two new Inscribe features—Trust Score and Quality Score—to further improve the process.
Trust Score and Quality Score assign each document a number between 0 and 100 based on variables such as how severe fraud results are, and how likely a result is a false positive.
Based on the result, Amy can set parameters for documents to be auto-accepted, auto-rejected, or looked at in more depth by a fraud team member.
“Security and compliance are of the utmost importance. If we get a bunch of documents and they’re all lighting up in Inscribe, our alert goes up right away,” says Amy. “It saves us time, because if we see the metadata is fraudulent, we're not going to waste time digging into that. We'll just deny them right away.”
“With Inscribe, we instantly made our onboarding workflow a lot more user-friendly and a lot less manual.”
Amy Quarles • Compliance Manager, Gig Wage
Onboarding time reduced by 2 days and an 80% response rate to document requests
With Inscribe, Amy’s team improved the speed and accuracy of fraud detection, cut the time and cost of onboarding customers, and skyrocketed customer satisfaction.
Average onboarding time has been shortened by 2 days, because customers can upload their documents at the same time they create their account. The quicker customers come onboard, the quicker Gig Wage can support them, earn more revenue, and grow.
Inscribe also unlocks efficiencies for Amy and her fraud team. With Inscribe heavily supporting fraud detection, they cut out at least 30 minutes of admin on every application. This frees up 150+ hours every year to focus on higher value priorities.
Even better, in cases where documents are fraudulent, Inscribe informs them in seconds. So Amy and her team no longer waste hours digging through applications that had no chance of being successful.
With self-service, one-touch onboarding in place, Gig Wage sees an 80% response rate to document requests.
“We are seeing a higher response rate on document submission as the customer does not have to wait to get the link to submit the documents,” says Amy.
With customer satisfaction key to loyalty and higher lifetime value, Amy is thrilled Gig Wage’s customers appreciate the new process.
“Customers have told us they appreciate how secure and easy it is to submit their documents now,” says Amy. “They don't have to zip file them or secure them on their end. When it goes through the API, everything’s done securely. With Inscribe’s API, it keeps our business customers engaged.”
Amy recommends Inscribe to other fraud and risk teams without hesitation.
“I've looked at a lot of other products, not just in this role, but in my prior roles, and Inscribe gives us the best fraud screening and offers a level of flexibility that others don’t match,” she says. “The Inscribe team is great to work with. If we have any questions, their response time is great and they answer us right away.”
Amy concludes: “As we continue to grow, we’ll continue to use Inscribe. We wouldn’t have been able to grow so fast without them.”
“The Inscribe team is great to work with. If we have any questions, their response time is great and they answer us right away.”
Amy Quarles • Compliance Manager, Gig Wage