In order to satisfy onboarding expectations while growing market share in a consolidating industry, acquirers are turning to technology to balance onboarding speed and risk tolerance. To reach this balance, acquirers need to leverage the latest in automation and predictive analytics for a consistent, rules-based approach.
A modern onboarding solution allows acquirers to:
- Grow in new, higher-risk markets or merchant segments
- Deliver a fast, frictionless, and digital-centric onboarding experience
- Quickly adjust onboarding workflows, decisioning logic, and risk models without IT
- Easily grab enterprise-wide internal data as well as external third-party data through pre-built connectors at the time of decisioning
- Automate routine administrative tasks
- Leverage business outcome simulation and optimization capabilities for effective risk-based pricing and for portfolio management
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