Comind.work
Investors Bank
Investors Bank logo

Same-day account opening

Banking & financial services

About Investors Bank

Investors Bank was a full-service financial institution serving customers across New Jersey and New York with over 150 branch locations.

As a community-focused bank with $25+ billion in assets, they specialized in commercial lending, retail banking, and wealth management services.

Their commitment to personalized service and regulatory compliance made them a trusted partner for businesses and individual customers alike.

150+ branches
$25B+ assets
96+ years
2,000+ staff
Headquarters: Short Hills, New Jersey
Adopted Comind.work in 2020
Challenge illustration

The challenge

Manual KYC process creating customer bottlenecks

Investors Bank's Know Your Customer (KYC) process was creating significant bottlenecks across multiple departments, with manual reviews taking 3-5 business days when competitors were completing them in hours.

Each department used different systems and manual processes, with compliance officers, branch managers, and back-office staff handling different aspects without centralized tracking or consistency.

The lack of real-time visibility into application status meant customer follow-ups were handled through phone calls and emails, creating additional workload and potential for regulatory compliance errors.

3-5 day delays
Manual verification
Disconnected systems
No progress tracking

The solution

Automated KYC workflows with real-time compliance

Comind.work enabled Investors Bank to create flexible, automated workflows that could adapt to different account types and risk levels while maintaining consistent compliance standards.

The platform integrated seamlessly with their existing core banking systems and third-party verification services, providing real-time visibility into every application's status.

Custom workflows were built for retail customers, commercial accounts, and high-risk scenarios, each with automated compliance checks and standardized approval processes.

Automated KYC workflows

Custom workflows for different account types and risk levels with built-in compliance checks and automated verification processes.

Real-time dashboards

Live visibility into application status, processing times, and compliance deadlines for better customer communication and management oversight.

System integration

Seamless connection with existing core banking systems and third-party verification services for streamlined data flow and processing.

Compliance automation

Automated regulatory reporting and documentation management to ensure BSA/AML requirements are consistently met across all processes.

Business results

The results

Same-day approval and improved compliance efficiency

The automated KYC workflows delivered immediate results, enabling most retail accounts to receive same-day approval compared to the previous 3-5 day timeline.

Compliance review efficiency improved dramatically, with the team able to handle significantly more account reviews while reducing error rates through automated validation.

Customer satisfaction improved due to faster turnaround times and better communication, leading to expansion into additional workflow automation areas.

Key features that made the difference

Workflow automation

Custom KYC workflows that adapt to different account types and risk levels, with automated compliance checks and verification processes.

Impact:

Reduced processing time from 3-5 days to same-day approval for most retail accounts

Real-time tracking

Live dashboards providing visibility into application status, processing times, and compliance deadlines for both staff and management.

Impact:

Compliance review time reduced through automated status updates and standardized processes

System integration

Seamless connection with existing core banking systems and third-party verification services for streamlined data flow and processing.

Impact:

Error rates in KYC documentation dropped through automated validation and data consistency