Designing a frictionless customer acquisition system for a merchant bank
Project overview
When a leading merchant bank needed to improve a lengthy merchant onboarding process, they chose Blankfactor to rapidly transform the experience for self and assisted onboarding. Our challenge was to develop an end-to-end onboarding and risk underwriting solution to qualify business partners and accelerate client acquisition.
Team structure
Tech stack
The result
Our new merchant onboarding system cut the process from 21 days to just one hour. The self-service portal with built-in risk underwriting engine approves e-commerce merchants instantly, enabling immediate activation.
As a result, merchant onboarding rates increase dramatically, rising from 30 per day to 200 daily signups. The seamless onboarding experience also reduced merchant dropout rates by 50%.
“It’s been a pleasure working with Mike and their team. It’s especially refreshing that they not only understand technology and user experience, but they can also scale quickly to meet our needs.”
Unlocking success
Reinventing the tenant experience
