Reducing Commercial Onboarding From Weeks to Minutes

A regional commercial bank relied on a slow, largely manual onboarding model that took about two weeks to open a new commercial deposit account. Myridius built a unified, omni-channel onboarding experience on Temenos Journey Manager and AWS with integrated fintech services, cutting account opening to 22 minutes and delivering the first phase in five months.

Key Outcomes

• Commercial account opening reduced from two weeks to 22 minutes.
• First phase delivered in five months.
• Rapid onboarding sustained during the SVB market disruption.

Overview

A regional commercial bank, among the largest headquartered in Iowa, relied on a slow, largely manual onboarding model that took about two weeks to open a new commercial deposit account. The desired state was an intuitive omni-channel journey supporting relationship managers, self-service users, and multiple product lines while accelerating growth and reducing operational friction. Myridius used Temenos Journey Manager on AWS, plus integrated fintech services, to design and deliver a unified digital onboarding and account opening experience. As a result, the bank reduced average commercial account opening time from two weeks to 22 minutes, delivered the first phase in just five months, and was able to onboard new customers and deposit accounts in minutes during the Silicon Valley Bank market disruption.

Client Context

The client is a leading commercial bank headquartered in Iowa, serving commercial clients through relationship managers and increasingly through digital channels.

Fast, unified onboarding mattered here because a two-week, largely manual account opening process created friction for clients and limited the bank's ability to grow deposits efficiently. What was at stake operationally was the bank's competitiveness and its capacity to capture opportunity quickly, a point made vivid when market disruption drove a sudden surge in demand for new accounts.

The Challenge

The bank relied on a slow, largely manual onboarding model that took about two weeks to open a new commercial deposit account. The desired state was an intuitive omni-channel journey that could support relationship managers, self-service users, and multiple product lines while accelerating growth and reducing operational friction.

Consider a new commercial client. Opening an account meant a two-week process spread across fragmented channels, with manual steps for identity, verification, and core banking setup. The experience was slow for the client and operationally heavy for the bank, limiting both speed and the ability to support deposit accounts, credit cards, lending, and treasury management in one coherent journey.

Transformation Goals

The engagement focused on north stars that connected an intuitive omni-channel experience to multi-product support and scalable growth.

• Omni-Channel Experience: Create an intuitive omni-channel onboarding experience for commercial clients across relationship-managed and self-service paths.

• Multi-Product Support: Support deposit accounts, credit cards, lending, and treasury management services within one onboarding journey.

• Speed and Scalable Growth: Reduce account opening time and enable scalable digital growth for the bank.

The Solution

The engagement used Temenos Journey Manager on AWS plus integrated fintech services to design and deliver a unified digital onboarding and account opening experience. Myridius orchestrated a unified multi-product journey, embedded fintech verification and core banking integration into that journey, and reimagined onboarding as a fast, intuitive, omni-channel experience. The progression moved from deploying unified journeys and experience design, to embedding identity, fraud, and verification services, to reimagining onboarding connected directly to the bank's core systems.

• Orchestrated the foundation: Created unified multi-product user journeys with information architecture, interaction design, and interface design supporting both relationship managers and self-service users.

• Embedded intelligence into the journey: Integrated fintech services for identity, fraud prevention, business verification, and bank account verification using Alloy, Middesk, iovation, and MX.

• Reimagined the operating model: Connected the experience to the bank's FIS IBS core banking environment through custom integration, enabling straight-through onboarding.

Governance and Trust

Because this engagement handled commercial onboarding and identity for a regulated bank, verification integrity and risk control were central. Integrated fintech services for identity, fraud prevention, business verification, and bank account verification embedded rigorous checks directly into the onboarding journey rather than relying on manual review.

Custom integration with the bank's FIS IBS core banking environment ensured that accelerated onboarding remained connected to the system of record, preserving accuracy and control as speed increased. The unified, omni-channel design gave relationship managers and self-service users a consistent, governed experience, which proved its resilience when the bank onboarded customers and deposits rapidly during the Silicon Valley Bank market disruption.

Results

The engagement transformed a slow, manual, fragmented onboarding model into a fast, unified, omni-channel experience. Clients opened accounts in minutes while the bank gained the scalability to capture growth, even under sudden market pressure.

The result:

• Reduced average time to open a new commercial account from two weeks to 22 minutes.

• Delivered the first phase in just five months, accelerating digital onboarding readiness.

• Enabled the bank to onboard new customers and deposit accounts in minutes during the Silicon Valley Bank market disruption.

Technology Stack

Core Platform

Temenos Journey Manager
Powers the unified digital onboarding journeys

Infrastructure and Cloud

AWS
Hosts the onboarding platform at scale

Identity, Fraud, and Verification

Alloy, Middesk, iovation, MX
Provide identity, fraud, business, and account verification

Core Banking Integration

FIS IBS
Connects onboarding to the bank's system of record

For a commercial bank, a two-week onboarding process is a brake on growth and a point of friction for every new client. This case shows how a unified, omni-channel digital journey turns onboarding into a competitive advantage. This was not a form redesign. It was a unified, multi-product onboarding journey connected straight through to core banking.