Pan-European digital bank delivers instant onboarding & credit decisioning across Europe
Problem
The bank needs to efficiently manage onboarding of simple and complex companies across all 29 jurisdictions. The bank was seeking to solve the following problems:
- The first-touch experience needs to be rapid - merchants shall type in their company number and see their company listed as soon as possible for quick gratification;
- The company data needs to come directly from corporate registries, together with official documents as evidence.
- All types of entities should be supported, including sole traders, freelancers and complex ownership corporations.
Solution
By partnering with Transactionlink, the bank was able to radically automate their onboarding procedures across all jurisdictions, for all types of entities onboarded, while staying on top of all regulatory requirements.
- Merchants can look up their company in under 5s on bank's website.
- The bank receives a unified response for all countries under a single API call. Registry extracts and company documents are fetched automatically too.
- The bank is able to dynamically tap into various data sources beyond just corporate registries. Fetching relevant complimentary data from credit bureaus, sole trader databases or local craft registers allows them to offer a smooth experience, even for entities with incomplete data in the registries, or not registered entirely.
What tipped it for us was the mentality of Transactionlink's team in the room during the evaluation — enthusiastic, versatile, startup mindset, not corporate. We'd just been burnt out by a vendor that got acquired into a bureau, and we recognised the difference right away.
Benefits
About the bank
This Transactionlink's partner started as a leading POS provider and later became a bank too. They work with merchants across all EU jurisdictions offering them a seamless, complete merchant onboarding experience right on their website.
About Transactionlink
TransactionLink is the most flexible KYB automation solution on the market. It combines ready-made customer forms with a no-code custom business logic builder and an advanced case management system. TransactionLink takes the pain out of sourcing registry data and primary documents globally, automating EDD procedures, establishing complex ownership trees, and building customer-facing forms by providing a single, easy-to-use solution.
TransactionLink already works with global leaders like Fiserv, Elavon, SIBS, and Viva Wallet, and challengers like Holvi, Pliant, and EqualsMoney, delivering a tailored experience to their internal teams and customers.
