Vertex Finance
3.8 hrs
KYC onboarding (was 5 days)
94%
Applicant completion rate
100%
Document collection automated
A 5-Day KYC Process Killing Borrower Conversion
Vertex Finance, a Singapore-based digital lending platform for SMBs, required applicants to complete a multi-step KYC process involving government ID upload, bank statement submission, and income verification. The process was email-based, asynchronous, and entirely manual on the operations side.
Average time-to-decision stretched to five business days, and 61% of applicants who started the KYC flow abandoned before completion. The compliance team spent 40% of their time chasing incomplete submissions — reducing capacity for the review work that required human judgment.
WhatsApp-Based Document Collection & AI Verification
Engium built a WhatsApp-native KYC flow that guides applicants through document submission step by step. The AI prompts for each required document, validates file quality in real time (readable, correct orientation, not expired), and flags ambiguous cases for human review — all within the WhatsApp thread applicants already trust.
Document data is extracted and structured automatically, with a compliance audit trail maintained for MAS reporting. The operations team now only reviews the 6% of cases the AI escalates — down from handling 100% manually.
Applicants complete KYC in a familiar WhatsApp thread rather than an unfamiliar web portal — dramatically reducing drop-off.
Onboarding Cut from 5 Days to Under 4 Hours
Post-deployment, Vertex Finance's average time-to-decision dropped from five days to 3.8 hours. Applicant completion rate rose from 39% to 94%. The compliance team, now reviewing only AI-escalated edge cases, cleared a 6-week backlog within the first month.
The reduction in abandonment alone represented a 140% increase in completed applications from the same acquisition spend.
3.8 hrs
Time to decision (was 5 days)
94%
Applicant completion rate
140%
More completed applications
60%
Compliance team time freed
“Regulatory compliance doesn't have to mean friction. Engium made our onboarding fast and legally rigorous at the same time — and our applicant drop-off almost disappeared overnight.”
PSPriya Subramaniam
Chief Operating Officer, Vertex Finance
“Regulatory compliance doesn't have to mean friction. Engium made our onboarding fast and legally rigorous at the same time — and our applicant drop-off almost disappeared overnight.”
Priya Subramaniam
Chief Operating Officer, Vertex Finance
Vertex Finance
About the Business
Vertex Finance is a MAS-licensed digital lending platform providing working capital solutions to SMBs across Southeast Asia. Founded in 2020, they have disbursed over SGD 180M in loans to more than 2,400 businesses across Singapore, Malaysia, and Indonesia.
Size
120 employees
Founded
2020
Headquarters
Singapore
Plan
Enterprise
Channels
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