REPAY and Worth Partner for KYB and Underwriting Tools to Speed Merchant Onboarding and Vendor Enrollment
REPAY (NASDAQ: RPAY) has announced a strategic integration with Worth, a fintech platform specializing in underwriting and onboarding workflow automation. The partnership aims to accelerate merchant onboarding and AP vendor enrollments across REPAY's Consumer and Business Payments verticals.
The integration leverages Worth's extensive database of over 1,100 data points to enable precise and transparent decisioning in underwriting and onboarding processes. This collaboration is expected to reduce merchant onboarding time while enhancing KYB (Know Your Business) risk mitigation through Worth's intelligent data platform.
REPAY (NASDAQ: RPAY) ha annunciato un'integrazione strategica con Worth, una piattaforma fintech specializzata nell'automazione del workflow di underwriting e onboarding. L'obiettivo della partnership è quello di accelerare l'onboarding dei commercianti e le iscrizioni ai fornitori AP nei settori dei Pagamenti per Consumatori e Aziende di REPAY.
L'integrazione sfrutta l'ampia base di dati di Worth, che conta oltre 1.100 punti dati, per abilitare decisioni precise e trasparenti nei processi di underwriting e onboarding. Si prevede che questa collaborazione riduca i tempi di onboarding dei commercianti, migliorando al contempo la mitigazione dei rischi KYB (Know Your Business) grazie alla piattaforma di dati intelligente di Worth.
REPAY (NASDAQ: RPAY) ha anunciado una integración estratégica con Worth, una plataforma fintech especializada en la automatización del flujo de trabajo de underwriting y onboarding. La asociación tiene como objetivo acelerar el onboarding de comerciantes y las inscripciones de proveedores de AP en los verticales de Pagos para Consumidores y Empresas de REPAY.
La integración aprovecha la amplia base de datos de Worth, que cuenta con más de 1,100 puntos de datos, para permitir decisiones precisas y transparentes en los procesos de underwriting y onboarding. Se espera que esta colaboración reduzca el tiempo de onboarding de comerciantes mientras mejora la mitigación de riesgos KYB (Know Your Business) a través de la plataforma de datos inteligente de Worth.
REPAY (NASDAQ: RPAY)는 언더라이팅 및 온보딩 워크플로 자동화에 특화된 핀테크 플랫폼 Worth와 전략적 통합을 발표했습니다. 이 파트너십의 목표는 REPAY의 소비자 및 비즈니스 결제 분야에서 상인 온보딩 및 AP 공급업체 등록을 가속화하는 것입니다.
이번 통합은 1,100개 이상의 데이터 포인트를 보유한 Worth의 방대한 데이터베이스를 활용하여 언더라이팅 및 온보딩 프로세스에서 정확하고 투명한 의사결정을 가능하게 합니다. 이 협력은 상인 온보딩 시간을 단축하고 Worth의 지능형 데이터 플랫폼을 통해 KYB(Know Your Business) 리스크 완화를 개선할 것으로 예상됩니다.
REPAY (NASDAQ: RPAY) a annoncé une intégration stratégique avec Worth, une plateforme fintech spécialisée dans l'automatisation des workflows d'underwriting et d'onboarding. L'objectif de ce partenariat est d'accélérer l'onboarding des commerçants et les inscriptions des fournisseurs AP dans les secteurs des Paiements pour Consommateurs et Entreprises de REPAY.
L'intégration s'appuie sur la vaste base de données de Worth, qui compte plus de 1 100 points de données, pour permettre des décisions précises et transparentes dans les processus d'underwriting et d'onboarding. Cette collaboration devrait réduire le temps d'onboarding des commerçants tout en améliorant l'atténuation des risques KYB (Know Your Business) grâce à la plateforme de données intelligente de Worth.
REPAY (NASDAQ: RPAY) hat eine strategische Integration mit Worth bekannt gegeben, einer Fintech-Plattform, die sich auf die Automatisierung von Underwriting- und Onboarding-Workflows spezialisiert hat. Ziel der Partnerschaft ist es, das Onboarding von Händlern und die Einschreibung von AP-Anbietern in den Bereichen Verbraucher- und Geschäftszahlungen von REPAY zu beschleunigen.
Die Integration nutzt die umfassende Datenbank von Worth mit über 1.100 Datenpunkten, um präzise und transparente Entscheidungen in den Underwriting- und Onboarding-Prozessen zu ermöglichen. Diese Zusammenarbeit soll die Onboarding-Zeit für Händler verkürzen und gleichzeitig die KYB (Know Your Business) Risikominderung durch Worths intelligente Datenplattform verbessern.
- Integration with Worth platform expected to accelerate revenue generation through faster merchant onboarding
- Access to 1,100+ data points for enhanced risk assessment and decision-making
- Improved efficiency in merchant underwriting and vendor onboarding processes
- None.
Insights
This strategic integration marks a significant advancement in REPAY's operational capabilities, potentially creating substantial competitive advantages in the payment solutions space. The implementation of Worth's comprehensive data platform, featuring over 1,100 data points, represents a sophisticated approach to automating important business processes.
The partnership addresses three critical business challenges: speed-to-revenue optimization, risk management enhancement and operational efficiency. By automating the merchant onboarding and vendor enrollment processes, REPAY can potentially reduce operational costs while accelerating revenue generation cycles. This is particularly valuable in the current market environment where efficient capital deployment and rapid scaling capabilities are essential for fintech companies.
The integration's deployment across both Consumer and Business Payments verticals suggests a comprehensive strategy to optimize REPAY's entire payment ecosystem. This dual-vertical implementation could create significant network effects, as improved onboarding efficiency often leads to increased merchant adoption and stronger network density.
From a risk management perspective, the enhanced KYB capabilities provide REPAY with more robust fraud prevention tools while maintaining rapid onboarding capabilities - a important balance in the payments industry. The automation of these processes could significantly reduce manual review requirements, potentially leading to lower operational costs and improved scalability of REPAY's business model.
REPAY’s integration with the Worth platform will enable faster merchant onboarding and high-volume AP vendor enrollments, leveraging Worth’s 1,100-plus data points for precise, transparent and timely decisioning of underwriting and onboarding activities. The tool will be deployed across the Consumer and Business Payments verticals in support of merchant and vendor onboarding activities respectively.
“Partnering with REPAY allows us to deliver industry-leading data and tools in support of their merchant and vendor onboarding processes,” said Sal Rehmetullah, Worth co-founder and CEO. “Worth’s mission to democratize data and provide decision transparency for enterprises is well-aligned with REPAY’s use case. Through our enhanced, data-driven approach, we can accelerate REPAY’s time to revenue for new implementations.”
“Our integration with Worth should reduce time spent on merchant onboarding while helping to mitigate KYB risk with the intelligent data provided through the platform,” said David Guthrie, CTO of REPAY. “By embedding the Worth advanced financial tools into our merchant underwriting and vendor onboarding processes, we can quickly and safely add businesses to the REPAY ecosystem.”
About REPAY
REPAY provides integrated payment processing solutions to verticals that have specific transaction processing needs. REPAY's proprietary, integrated payment technology platform reduces the complexity of electronic payments for clients while enhancing the overall experience for consumers and businesses. For more information, please visit repay.com.
About Worth
Worth is a leading fintech platform that automates onboarding and underwriting for financial institutions. Powered by a large database with millions of small businesses, the all-in-one solution integrates workflow automation, Know Your Business (KYB), Know Your Customer (KYC), bank verification, fraud detection, and credit underwriting. This enables enterprises to onboard customers quickly and confidently. With deep insights into small business data, Worth accelerates time-to-revenue while fostering a more equitable financial ecosystem where both enterprises and small businesses can thrive. For more information, please visit https://worthai.com/.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250128387910/en/
Investor Relations Contact for REPAY:
IR@repay.com
Media Relations Contact for REPAY:
Kristen Hoyman
khoyman@repay.com
Source: REPAY
FAQ
What benefits does the Worth integration bring to RPAY's merchant onboarding process?
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Which RPAY business segments will utilize the Worth integration?
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