Case Study: Launch Credit Union triples digital account openings and auto-declines 95% of fraud with Alloy
Key results
The challenge
Launch Credit Union, a $1.4 billion institution with 85,000+ members, saw potential members abandon accounts because of a slow, cumbersome onboarding process. The team needed to speed up digital account opening without opening the door to fraud.
The solution
Launch integrated Clutch's digital application platform with Alloy's identity verification and fraud detection, streamlining the online journey while adding automated fraud controls and step-up verification.
“We saw an immediate impact on our growth after implementing Clutch and Alloy. We didn't add any new promotions or marketing, but by simply streamlining our digital account opening, making it safer and faster, we were able to see a 3X increase in new memberships opened online.”
ACAngie CrosbyVP Project Management Office, Launch Credit Union
The results, in context
After implementing Clutch and Alloy, Launch saw a 3x increase in digital account openings in the first month and sustained roughly 2x monthly growth, with a 3-minute application journey. Alloy auto-declined 95% of fraud attempts and caught a coordinated fraud ring with zero loss.