Success Story

FuturePay Automates Underwriting Process

FuturePay Holdings Inc., a fintech startup, offers a revolving credit solution for e-commerce merchants. However, before a merchant can be accepted as a partner, a stringent review process is necessary to ensure compliance with regulations.

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Success Story: FuturePay Automates Underwriting Process

Key Figures and Facts

Challenges

Management of the underwriting process through spreadsheets and emails.
Manual and time-consuming data collection, verification, and approval processes.
Increased risk of compliance violations and potential fines in the millions.
Need for a complete audit trail to ensure adherence to regulations.

Solution with Axon Ivy

A centralized platform for automating the entire merchant underwriting process.
Integration of risk management, credit checks, and compliance monitoring.
Custom applications tailored to specific underwriting and onboarding needs using low-code capabilities.
Transparent workflows with automated notifications and escalations.

Highlights

Full transparency over all process steps through dashboards and reporting features.
Automatic task delegation during workflow bottlenecks.
Centralized access to all data through the Axon Ivy portal.
Integration of data into the “Snowflake Single Source of Truth” database for detailed reporting.

Why Choose Axon Ivy?

Flexible licensing model that allows FuturePay to scale the platform as needed.
Open architecture for seamless integration with existing systems.
Quick and easy development of custom applications through low-code functionalities.
Comprehensive support from strong system integration partners.