Merchant Underwriting & Onboarding Software

Finix's Merchant Underwriting solution automates your underwriting workflows so you can onboard businesses faster, without compromising risk.

Use with any payments provider

Easily underwrite merchants for payments with any processor or power merchant verification for a variety of financial use cases.

Customize to your business needs

Build custom logic to tailor risk scoring, decision thresholds, rules and workflows to your unique requirements.

International reach, local expertise

Our solutions support underwriting for merchants in the US and Canada, so you can scale your business across multiple territories.

Automate your underwriting processes

Seamlessly collect merchant information and KYC/KYB reports, automatically approve trusted merchants and efficiently manage cases and compliance – all in one system.

Onboarding Forms

Easily collect and verify merchant onboarding information with prebuilt forms that increase conversions and reduce user errors. Our no-code forms stay up to date with the latest card network rules and industry requirements so you can create a compliant onboarding experience in seconds.

Features

• No-code brandable forms
• Conversion-optimized design
• Google Maps-powered address autocomplete
• Link creation in dashboard
• Built-in error handling and input validation
• Integrated onboarding and underwriting

Run your underwriting in one place

Say goodbye to manual processes and disjointed systems. One centralized solution helps you reduce time to decisions and manage your operations from start to finish.

Gain visibility and control

Our dashboard combines underwriting orchestration with powerful analytics, reporting and simplified management of onboarding, compliance and verification workflows. Get a holistic view of your performance, stay on top of reviews and deadlines, and access actionable insights that power faster, more confident decision making.

Onboard and verify merchants for all types of financial use cases

PayFacs

Operate as a registered payment facilitator without all the complexity and overhead. Seamlessly get merchants up and running with a unified solution.

SaaS Platforms & Marketplaces

Take charge of identity verification and compliance for businesses selling products or services on your app. Use our solution for more ownership and control.

Acquirer Processors

Break down underwriting silos. Leverage a single solution to accelerate customer onboarding and approve more applications for payment processing.

Banks

Scale your banking KYC and KYB checks. Streamlined capabilities help you onboard merchants faster and efficiently handle investigations.

Fintechs

Automate underwriting checks and reliably approve more businesses for your financial products. Frictionless onboarding simplifies customer experiences.

Sponsor Banks

Collaborate with your Fintech partners while ensuring compliance with your policies through enhanced oversight of risk decisions.

Merchant Onboarding and Underwriting: FAQs

1. What is merchant underwriting?
   Merchant underwriting is the process of evaluating a business before approving it to accept payments. With Finix, merchant underwriting involves reviewing business details, ownership information, risk factors, and compliance requirements to determine whether a merchant can be safely onboarded onto a payment platform.

2. What is the difference between KYC and KYB?
   The difference between KYC (Know Your Customer) and KYB (Know Your Business) is that KYC verifies the identity of an individual, while KYB verifies the legitimacy and ownership structure of a business. Finix supports both KYC and KYB processes as part of its merchant onboarding and compliance workflows.

3. How long does merchant underwriting take?
   Merchant underwriting timelines depend on the complexity and risk profile of the business. With Finix’s automated underwriting tools, many merchants can be reviewed and approved quickly, while higher-risk cases may require additional review to meet compliance standards.

4. How does automated underwriting work?
   Automated underwriting works by using predefined rules, data verification checks, and risk signals to assess merchants in real time. Finix’s automated underwriting system integrates directly into your onboarding flow, allowing you to review applications efficiently while maintaining compliance and reducing manual review.

Explore merchant onboarding and underwriting insights

• How to Get a Merchant Account: Step-by-Step Guide for Small Businesses
  Accepting credit and debit card payments starts with getting a merchant account, but the process can feel confusing if you're applying for the first time. From registering your business and gathering documents to passing underwriting and choosing the right provider, there are several steps involved before you can start accepting payments.

• Why Does Personalized Merchant Support Matter Beyond Just Cost Savings?
  TL;DR: Why Personalized Merchant Support Matters
  Cost savings are just the start: Finix helps merchants save up to 40% on credit card processing by cutting out intermediaries and offering transparent pricing.

• Why Real-Time Reporting Matters for Merchants
  A Comprehensive Guide
  Let’s be real, every transaction has a direct impact on revenue and customer satisfaction; merchants need more than just basic payment processing; they need actionable insights delivered in real-time.

Ready to transform your underwriting?

Automate merchant underwriting and risk checks with infrastructure built to help platforms onboard and approve merchants at scale.