Payments Cloud

Engineering Fast, Accurate Decisions for Merchant Onboarding

The Opus Payments Cloud simplifies, automates, and speeds up the merchant onboarding process. Leveraging an online data collection platform hosted on the Salesforce AppExchange, Payments Cloud enables the fast aggregation of merchant information and automatic risk decisions through machine learning-based risk scoring.

The standard merchant onboarding process can take days to months to collect and analyze merchant financial data, KYC, OFAC, and other checks. Risk scoring models based on manual data entry and analysis have been a drain on time and resources-and inconsistent.

Payments Cloud eliminates merchant bank costs associated with manual data entry and elaborate, manual risk scoring processes:
  • Seamless Data Collection : Merchants simply enter the information required for all checks, upload documentation and dick "submit."
  • Customized Workflow for Immediate Results : Merchant data is quickly analyzed per the workflows set by the acquirer. Prioritization of checks allows acquirers to run them in parallel or sequentially, automatically rejecting merchants that fail specific checks, enabling exceptions for manual intervention, or approving a merchant that passes necessary checks.
  • Chat/Voice Bot Assistants : Acquirers have the option to include chat or voicebot assistants to guide merchants through data submission, reducing the need for customer service resources.
  • Fast, Accurate, Automated Underwriting : Machine learning aggregates and analyzes acquirer's historical merchant data, identifies core influencers, and builds effective risk-scoring model to provide instant risk scores for new merchants.
  • Out-of-the-Box and Bespoke Reporting Dashboard : Acquirers get real-time insights into key metrics, including merchant industry/business type percentages, billing model vs onboarded, mode of business, onboarded monthly, and more. Custom reports are also available.


Features
& Benefits Comparison

Process Manual Process Cloud based Process

Data Capture

(KYC, OFAC, Address Verification, Credit-Worthiness, Criminal Background, etc.)
  • Manual Effort
  • Time
  • Shoed Legacy Systems
  • Merchant Submits Info & Supporting Documentation
  • Voice/Chat Bot Assistance to Reduce Customer Support Resources
  • Rapidly aggregation of the data

Running Checks on Captured

  • Manual Analysis Requires Time & Information Internal Resources
  • Clunky workflows for verification add unnecessary steps to process
  • Automated Process Streamlines Data Aggregation
  • Custom configuration enables checks to run in parallel or sequentially, allowing for manual intervention or automatic rejections or approvals

Risk Scoring

  • In-House Risk Model Development Requires Sizable Investment
  • Integrating Third-Party Risk Models Into Existing Systems Bottlenecks Onboarding Process
  • Out-of-the-Box Capabilities Streamline Onboarding from End to End at Reasonable Cost
  • Machine Learning-Based Risk Scoring Provides Accurate, Instant Decision-Making

Sales Commissioning

  • Lack of Insights to Award Appropriate Commissions to Salespeople Based on Key Factors
  • Enables Data-Based Earning Model That Takes Key Merchant Factors Into Account

Deep Application
Development Experience

Opus Consulting is a Salesforce Certified Partner with diverse experience in delivering cloud-enabled, automated solutions to solve complex business problems. Clients tap our deep application development expertise and knowledge of industry trends to create solutions in telecomm, healthcare, banking, and more.

The Opus Payments Cloud is an iteration of a cloud-based application that has been used to solve challenges in loan origination, customer account onboarding, agent onboarding, and to streamline other complicated workflows.

Thought
Leadership

June 24, 2019

Why Financial Institutions Need to Hone in on Mobile Wallets

June 14, 2019

The Benefits of Real-Time Payments

May 30, 2019

The State of Fraud in Payments