The underwriting process for merchants, especially those who are new to the space, has been anything but easy. Merchant onboarding applications involve the tedious collection of paperwork and process of getting accounts approved. But in today’s digital world, automated underwriting technology can be used to speed up the process, provide better data, and ultimately help banks and other financial institutions make better decisions. At the same time, it extends payments to micro-merchants who may have otherwise not been eligible.
On Tuesday, July 8th, MPD’s CEO Karen Webster hosted a live digital discussion with Recombo’s Reed Clayton, Vice President Electronic Payments and Banking, and Peter Fitzpatrick, author of the “Ultimate Guide to Automated Merchant Boarding,” to highlight how automated underwriting molds a quicker, safer, and less costly merchant onboarding process.
This discussion covered:
- How to build a digital application, automated workflow, and risk scorecard to process merchant applications faster while maintaining proper risk levels and anti-fraud requirements
- How to increase your adherence to compliance regulation.