A Shift in the Market
2024 was like no year before for the digital onboarding industry, and for MVSI it was no exception. As our customers across the globe faced rising compliance demands, rapid advancements in technology, and shifting customer expectations, the pace of innovation reached new heights. For companies, this meant navigating a landscape that demanded agility, precision, and scalability—qualities that defined the year’s most significant breakthroughs.
The digital onboarding industry grew significantly in 2024,with the market expanding by 17.5% to reach $16.2 billion. Financial services, payments, and insurance led adoption, focusing on smoother processes to enhance customer satisfaction and meet evolving regulatory demands.
Regulatory shifts like the EU’s eIDAS 2.0 and increased use of AI in Asia-Pacific drove investments in KYC and AML compliance. The global digital identity verification market is set to exceed $21 billion by 2025,highlighting the reliance on AI and biometrics for secure and efficient onboarding. MVSI recently released several announcements about our investments in AI, and document fraud measures, to ensure we remain at the forefront of the instant boarding market.
In B2B, payments companies adopted automated compliance tools for faster, risk-aware merchant onboarding. API-first platforms gained traction, enabling seamless integration with enterprise systems and supporting global scalability. These advancements reflect the demand for speed, flexibility, and compliance in onboarding key business partners. Complex B2Bonboarding, anywhere in the world, has always been a strength of OnBoard by MVSI, and we continue to make major investments in technology and people to service this expanding market.
OnBoard Milestones
2024 was an incredible year. In this rapidly changing and dynamic environment, MVSI achieved unprecedented growth by enhancing the OnBoard platform to deliver faster, more secure, and compliant solutions, supporting clients as they compete, grow and expand in these changing markets.
Beyond technology, we deepened relationships with customers, partners, and the compliance community, solidifying our role as a trusted ally in their onboarding journeys.
Here are some of our most notable achievements this year:
✨ Game-Changing Product Updates in 2024
This year, we introduced some incredible enhancements to OnBoard by MVSI—all designed to help you onboard faster, reduce friction, and stay ahead of compliance demands. Here’s what’s new:
📊 Case Load Management
Streamline your team’s workflow like never before. Our Case Load Management feature dynamically prioritizes and assigns onboarding tasks, ensuring every team member stays productive and focused on what matters most. For businesses with large onboarding volumes, this means less bottlenecking, faster turnarounds, and maximum efficiency—all while reducing staffing costs.
🛡️ Portfolio Risk Management
Precision is power when it comes to compliance. With Portfolio Risk Management, you can create unlimited, fully customizable risk classes to segment customers based on their unique profiles. This enhanced framework supports precise risk assessments and makes it easier to maintain ongoing compliance as your customer portfolios grow in size and complexity. Whether you're managing evolving markets or scaling globally, OnBoard ensures you can evaluate, maintain, and report on risk with unparalleled clarity.
⚙️ Friction Point Insights: Notes Categories & Action Owners
We know every point of friction adds time and cost, so we've added tools to help you eliminate them. Notes Categories and Action Owners provide clear visibility into the most time-consuming and costly processes in your onboarding workflows. By categorizing notes (like call logs or verifier actions) and assigning owners, you can better track, report, and optimize your processes. It’s your key to streamlining operations and minimizing customer friction.
🚀 Multi-Acquirer Multi-Supplier (MAMS)
Expand faster, smarter, and paper-free. With our enhanced Data Export capabilities, you can provision multiple partners and suppliers from a single application. Select and export any subset of data at any onboarding stage, triggered automatically by workflow rules. Whether you’re exporting via email, API, S3, or SFTP, this feature guarantees secure, seamless delivery of the exact data your business needs—no manual effort required.
Global Expansion
2024 was a transformative year for MVSI and our flagship product, OnBoard. We achieved 200% growth in our customer base, reflecting the increasing demand for seamless onboarding solutions across industries. This growth was underpinned by the rebranding of OnBoard by MVSI, featuring a fresh logo, updated website, and a revitalized identity that better communicates our mission to simplify compliance and onboarding.
To meet growing demand, we expanded our global team by 60%, bringing in talent to enhance innovation and customer support. Our footprint also grew as we extended services to 35+ countries and unlocked opportunities in new sectors like Cross-border Payments, Crypto, and BNPL. These milestones allowed us to serve a more diverse range of industries while maintaining a 99% compliance pass rate across all markets.
In EMEA and Asia, we strengthened our presence by attending leading payments and regtech conferences, connecting with industry leaders and showcasing OnBoard’s capabilities. This regional focus also led to partnerships with partnerships with 6 of the world’s top 10 Acquirers, further solidifying our position as a trusted partner in compliance and onboarding.
As remarkable as this year has been, it’s only the beginning. With a stronger global presence, new partnerships, and a growing community, 2025 is set to be even bigger. We’re excited to continue leading the way in onboarding innovation, driving success for our clients and partners worldwide.
What to Expect in 2025 – You asked, we listened
2025 is set to be a landmark year for OnBoard by MVSI. With ambitious plans to grow our team, elevate our marketing and brand to new heights, and deepen partnerships and alliances, we’re laying the foundation for even greater success. At the heart of it all is innovation: based of customers’ valuable feedback we’re rolling out exciting product updates designed to transform onboarding processes, making them faster, smarter, and more seamless than ever before.
🚀 Seamless Environment Management: Version Management
Say goodbye to deployment headaches! Our new Import/Export feature takes the hassle out of managing configurations between non-production and production environments. Think of it as version control on steroids—test your updates confidently, transfer them effortlessly, and reduce risks along the way. This is a game-changer for teams juggling multiple environments. Save time, reduce stress, and keep your workflows running smoothly.
✍️ Streamlined Signing Experience: Signature Enhancements
Signing just got super simple! Our Signature Enhancements guide users every step of the way, showing exactly who needs to sign, where, and how. No more guesswork, no more back-and-forth emails—just a smooth, user-friendly experience that simplifies one of the most critical parts of the onboarding process. A win-win for everyone involved!
🤖 Smarter Document Handling: DOC AI
Let’s face it—manual document processing can be a drag. That's why we’re thrilled to introduce DOC AI, our AI-powered tool that handles documents faster, smarter, and more accurately than ever before. With customizable prompts, DOC AI pulls the info you need in seconds. Say hello to lightning-fast processing, fewer errors, and a whole new level of efficiency.
🔒 Advanced Fraud Prevention: AU10TIX Integration
Security and speed, reimagined! Our partnership with AU10TIXbrings cutting-edge fraud detection and seamless document capture to Onboard. With an upgraded interface, document uploads are faster and easier, whileAU10TIX’s advanced tech ensures authenticity every time. Protect your users, your data, and your reputation with the most secure onboarding experience yet.
⚡ Flexible Data Management: Boarding Maintenance
With Boarding Maintenance, managing applicant information is simpler than ever. This new feature empowers customers to update captured details—like correcting errors or making changes—without needing input from applicants. By eliminating unnecessary delays, you can ensure a smoother process while keeping everything accurate and up-to-date. It’s all about giving you more control to keep things moving effortlessly.
With these exciting updates, 2025 is shaping up to be our biggest year yet. We’re thrilled to grow alongside our incredible customers, partners, and community, and we couldn’t do it without your support. Thank you for being part of our journey—we can’t wait to see what we’ll achieve together.
