Banks and financial institutions spend heavily to acquire new customers, but newly signed accounts that remain inactive introduce compliance, revenue, and customer experience risks. Without proper monitoring, unactivated accounts can increase fraud exposure, reduce customer satisfaction, and limit lifetime value. To address these challenges, the company needed an automated solution to detect inactivity, trigger proactive engagement, and streamline compliance workflows.
Challenge
The company's manual onboarding process created several obstacles:
- Manual Tracking: Staff manually reviewed new accounts for activity, often missing inactive cases.
- Revenue Leakage: Inactive accounts limited fee income and lowered lifetime customer value.
- Compliance Concerns: Dormant accounts created risk exposure under KYC and AML requirements.
- Low Engagement: Lack of timely outreach reduced the likelihood of activation and retention.
- Limited Reporting: Leaders lacked visibility into inactive account volumes and trends.
Solution
The company deployed Decisions to automate signed (not active) new account discovery, featuring:
- Automated Monitoring: Rules-driven logic flagged accounts with no activity after defined thresholds.
- Exception Routing: High-risk cases escalated to compliance teams, while standard cases triggered customer outreach workflows.
- Customer Engagement Automation: Integrated notifications encouraged customers to complete onboarding and activate accounts.