Copilot by, Detected: Reinventing KYB

Welcome to Copilot, by Detected. A new era of intelligent automation for Know You Business (KYB) onboarding. Fast, safe and compliant business onboarding has become a competitive driver.

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Unfortunately, the process of onboarding hasn’t seen meaningful innovation since the 1990s - reflected in manual checks, long onboarding question sets, spreadsheets and email based customer correspondence.  

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These dated processes, when combined with complex risk requirements and a rapidly changing regulatory landscape, simply cannot keep pace with the rising customer demand for the type of onboarding experience you’d expect at a neobank.

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KYB must evolve, a one-size fits all mentality and manual process are simply not good enough.

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With Copilot by Detected, everything changes.  

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Copilot: Onboard. Verify. Protect.

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Copilot is the new standard for fast, safe and intelligent KYB.

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Copilot can be used as a complete end-to-end platform or seamlessly integrated via API to existing systems such as Salesforce.  With Copilot, the entire KYB process is simplified into three stages:

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Onboard

Accelerate the onboarding process for the right customers, for the right product, wherever they are, helping you get to revenue faster.

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Copilot Components: Dynamic Customer facing  UI and onboarding flow builder.

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Verify

Automatically gather rich profile data from Copilot’s global Risk, Fraud & Compliance data sources.  Allow predefined risk rules to process and auto-approve low-risk customers.  Where compliance needs are more complex, or customer value demands it, capture additional data to verify and validate.

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Copilot Components: AI, Rules Engine and Risk, Fraud & Compliance data ecosystem

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Protect

Continuous monitoring provides essential protection should the status of a profile change.  Alerts empower teams to see changes and can take action, either via the Copilot Case Management or directly via systems, such as salesforce or company CRM.  

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Copilot Components: Detected Case Management, API, Alert Monitoring, Salesforce/CRM connection 

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The age of automation and why Copilot.

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Copilot is the natural evolution for Detected and is a direct result of four years of technical product development and continuous in depth market analysis.  

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“Definition: A copilot, in the broadest sense, is a partner in both navigation and execution, sharing ambition and steering through challenge.” 

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Whether in the literal flight deck or the metaphorical journey towards a goal, a copilot symbolises teamwork and trust.

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Copilot is active during the whole onboarding process. From a client clicking ‘get started’, compliance completing their review and the continuous monitoring that follows; Copilot supports the entire lifecycle.

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Where does Copilot deliver value?

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Copilot impacts the whole KYB process. Assisting compliance teams with their reviews, delighting sales and the C-Suite by reducing time to revenue. Copilot also reinvents the experience for the company being onboarded.  This builds trust, enables a quicker time to revenue and ultimately, better business outcomes.  

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Copilot significantly reduces time to revenue, onboarding time, compliance review time. It also reduces the number of systems and manual interactions during the process. Clients also see an increase in onboarding volume as a result of the more efficient processes. Here’s some examples of how Copilot has helped them:

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Time to revenue

Detected reduced the time to revenue for one client by 60%. Originally taking over 30 days the onboarding process was streamlined and the time to revenue is now just 12 days. The net result was a £47,000 increase in revenue for each new customer in year one. 

Read more  about how Copilot protects high value customer onboarding. 

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Onboarding Volume

One client increased their onboarding volume by 33% over a 3 month period due to Copilot. An inefficient onboarding process was taking hours to complete and lead to a high dropout rate, it was transformed into a streamlined process that takes the customers 15 minutes to sign up.

Read more about how Copilot automates high volume customer onboarding.

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Copilot by Detected: Reinventing KYB

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To find out more about how Copilot can support your business, please get in touch with one of the team, we’d be very happy to provide you with a demo.

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