top of page
ocplusc_master_logo_rgb_hr3.jpg
Acceleration of the Merchant Onboarding & KYC Process at a Payment Service Provider
Challenge

A highly manual and time-consuming merchant onboarding process (including KYC checks and technical setup) led to a suboptimal merchant experience, high processing costs, and lost revenue due to delayed transaction capability

Approach

Identification and prioritization of actionable recommendations

  • Built a deep understanding of the as-is process and identified pain points & solution ideas through interviews, work shadowings, cross-functional workshops, and review of existing documentation

  • Benchmarked competitors' onboarding processes from the merchant perspective

  • Established and analyzed a reliable data foundation and set up relevant analyses and reportings

  • Modeled time and cost savings potential resulting from various measures


Steering of the implementation of selected solutions, e.g.

  • Digitalized data collection and contract generation by Sales to eliminate manual entry of paper contracts, ensure data completeness, and reduce errors and follow-up questions

  • Introduced automation solutions through assessment of automatable process steps, definition of requirements, and selection & implementation of external solutions

  • Brainstormed and implemented ideas to reduce handovers and passive waiting times

  • Assessed legal requirements and critically challenged compliance guidelines to better balance legal conformity and process efficiency

  • Enhanced merchant communications with automatically triggered e-mail updates to reduce capacity-binding status inquiries

  • Derived further recommendations based on individual merchants' negative experiences

  • Visualized the target workflow as a BPMN flowchart and revised SOPs

Result

Increased average onboarding completion speed by >60% while reducing overall costs

bottom of page