Founded in 2016 by established entrepreneur Trevor Jacobs and tech expert Dirk le Roux, SprintHive is a B2B2C business running a SaaS enterprise model. SprintHive is a fast-growing South African-based fintech company that enables seamless and innovative end-to-end customer onboarding services that drive conversion rates, reduce risk and costs and prevent fraud. SprintHive provides automated and easy-to-implement solutions that fully onboard a new customer in under two minutes. Before we discuss the success factors of SprintHive’s onboarding solutions, let’s unpack what customer onboarding means.
What is customer onboarding?
Whether you have applied for a home loan, personal loan, retail account or any application-based service, you have experienced the world of customer onboarding. Typically defined as a manual or automatic process to set up new customers to start using digital services, new users take the initial step of signing up followed by a verification process, resulting in the activation of their customer profile. SprintHive’s services address the challenges of digital onboarding by seamlessly slotting in between your user experience and business systems, shielding the customer-channel experience from back-office inflexibility.
How can SprintHive enhance your customer experience?
SprintHive works with new digital-first banks and FSPs that use more traditional channels. We are also able to transition customers from the traditional to the new digital world. Our solution will digitally convert leads in real-time while reducing costs and providing a seamless customer experience.
Mitigating risks?
Cyber fraud is becoming more sophisticated and has placed personal information and business security under pressure. Our identity verification service is one of the privacy-enhancing tools detecting document tampering and impersonation to mitigate your business risk.
In addition, our liveness tests for the user’s onboarding are prompted to upload an image of themselves smiling for our machine learning model to analyse and verify the user, as our tests are built to cross-compare and ensure the user’s identity when onboarding – that they are who they say they are in the absence of face-to-face verification.
Our income verification service has also been developed to read the properties on the payslip or bank statement uploaded, followed by our confidence score, transaction categorisation and document tamper checks, conducted in under two minutes. As a result, we constantly retrain our models as we are always evolving to our customers’ objectives.
The KPMG 2022 global tech report outlines that the number one challenge complicating the adoption of digital technologies for companies is the talent shortage. SprintHive prides itself on our extensive team and senior software engineers who have led the deployment of over two million successful verifications ensuring our partners can strengthen their customer onboarding experience while delivering an excellent customer experience to ensure our partners meet their business’s key performance indicators (KPIs).
“Customer experience is substantially motivating enterprise investments in IT and is becoming synonymous with digital transformation. Tech strategies are anchored to creating loyalty-winning experiences, to safeguard income and encourage [high] levels of repeat revenue from customers.” Barry Brunsman Global Leader, CIO Center of Excellence, KPMG International & Principal Advisory, CIO Advisory at KPMG in the US
What are the snippets of SprintHive services?
DIGITAL ONBOARDING
Digital customer onboarding in under two minutes
IDENTITY VERIFICATION
Over 1000 data points for identity fraud detection in addition to third-party identity verification
INCOME VERIFICATION
Fast, flexible and accurate income assessment with data extraction, transaction categorisation and document tamper checks
DOCUMENT MANAGEMENT
Regulatory, POPIA and GDPR compliant cloud-based document management. Document classification and data extraction mean valuable business data can be automatically extracted from documents
FRAUD PREVENTION
Machine learning-driven and reliable real-time data detection and fraud prevention service that safeguards the business from fraud-related risks during customer onboarding