build or buy? - agreement...

BUILD OR BUY? Merchant Onboarding Platforms For Payments Organizations

Key technology considerations for improving merchant onboarding

TABLE OF CONTENTS

Why Onboarding?

What Are My Options?

I.T. vs. Business Project

Building a Custom Solution

Combining Multiple Systems

Licensing Onboarding Software

Sage Payment Solutions: Enhanced Onboarding and Underwriting

Evaluating Onboarding Vendors – A Checklist

Your Onboarding Partner

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BUILD OR BUY: MERCHANT ONBOARDING PLATFORMS FOR PAYMENTS ORGANIZATIONS

Merchant onboarding has emerged as a strategic business process in which weaknesses can cost merchant acquirers and ISOs millions of dollars a year in administrative overhead and revenue leakage.

The process of onboarding and underwriting a new merchant was traditionally considered a necessary administrative drag. The collection of physical documents, multiple rounds of physical signatures, and careful review by an underwriter, culminated in a weeks-long merchant sign-up process.

Payments organizations began to feel pressure to change this status quo on two fronts: shrinking margins in an increasingly commoditized industry, and disruptive business models from Payment Service Providers (PSP) such as Square, PayPal, and Intuit (McKinsey, Innovation and Disruption in U.S. Merchant Payments).

Automated onboarding and underwriting is quickly becoming a key measure for mitigating these two pressures, for four reasons.

1. IT ENABLES SCALE

Onboarding and underwriting is the single biggest bottleneck in the sales process. Hiring more underwriters and administrative staff to process the additional merchant applications, however, is unsustainable. Acquirers and ISOs may be able to increase revenue with sales and product initiatives, but they will constantly struggle to keep costs down without removing the manual administration bottleneck.

WHY ONBOARDING?

The payments space is moving very rapidly and we are being forced to innovate and adapt. Technology is one of the best ways we can keep up the pace of delivery and react to the market. The customer onboarding process is one area where technology makes a really big difference."

GLOBAL PAYMENTS UK

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2. IT CAN DOUBLE SALES PRODUCTIVITY

If a sales team had the capability to onboard a new merchant on the spot from a mobile device, they would be able to sell more. If a sales team’s administrative work was reduced by 90%, and merchant defection in the onboarding process was reduced by 50% or more, efficiency would more than double. The top acquirers have learned how a seamless onboarding process is directly related to sales productivity and, as a result of implementation, have increased revenue.

3. IT OPTIMIZES UNDERWRITING

An onboarding system can give precise insight into the underwriting data you need for making critical business decisions. What percentage of applications fall within your ideal target range? If the percentage is suspiciously high, the sales team’s focus may be too narrow. If the percentage is too low, either the sales team is targeting the wrong demographic, or underwriting is using too many potentially overlapping scoring factors, artificially inflating the merchant risk score. Arming the underwriting team with accurate data and predefined data sources are the first two critical steps in optimizing the underwriting process to pass more of the right merchants and disqualify more of the wrong merchants.

4. MERCHANTS EXPECT SPEED

Square is not a direct competitor for most acquirers. Regardless, it has fundamentally changed merchant expectations of speed, convenience and digital ease of onboarding.Now, established acquirers find they are all too often dealing with merchant expectations that have been informed by lightweight micro-merchant processors. If their peers can sign up with Square in five minutes, why does it take them days or weeks to sign up with you? As far as merchants are concerned, the complexities of compliance or legacy systems can’t be that different. What’s apparent is the vast difference in speed that directly affects them.

Today, a fast, digital onboarding process is a must-have for a merchant acquirer to remain competitive.

SOLUTIONS FOR IMPROVING THE MERCHANT ONBOARDING PROCESS In this guide we’ll discuss the three main approaches to improving the merchant onboarding process. We’ll weigh the pros and cons of each, and provide recommendations based on more than 15 years of onboarding transformation and leading industry research.

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We’ve witnessed financial institutions attempting to solve this problem in hundreds of different ways. These solutions can be aggregated into three categories:

Building your own custom software Combining multiple systems Partnering with an onboarding software provider

TECHNOLOGY REQUIREMENT

• Increase efficiency

• Cut operational costs

• Use of analytics

• Flexible

• Adapt to currentand future regulations

• Use the latest encryption techniques

• SOC 2 compliant

• Improve the merchant experience byproviding a seamless, integrated solution

• Systems capable ofhandling multiple channels

• Decreased margins dueto increased competition

• Introduction of compliancesuch as PCI-DSS

• Scalability

• Changing industry pressures

• Avoid card fraudand security data breaches

• Merchant attrition,which has been on the rise since 2008

• Non-traditional playersas competitors, such as Square

CHALLENGE IT ADDRESSES

The suitability of these options will vary depending on the needs of your organization and its existing technology.

Before reviewing these options, however, keep in mind that any technology investment must effectively address these key challenges.

WHAT ARE MY OPTIONS?

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I.T. VS. BUSINESS PROJECTA common misconception in assessing a merchant onboarding project is that it belongs under IT. Forward-thinking organizations adopt the vision of onboarding automation as a business transformation rather than another IT project. The impact of merchant onboarding and underwriting spans across departments, product lines, and business processes. It can also serve as a key competitive differentiator when executed properly. These are building blocks of corporate strategy that require IT support, rather than a dedicated IT project that requires business input.

Dan Oliver from global enterprise consultancy Headstrong put it this way in a ‘Build vs. Buy’ address to technical project managers: “Remember: Business first, technology last.” When your team is clear on the larger business goals of your organization, such as gaining market leadership, increasing revenue, reducing FTE, or improving the merchant experience, you will be in a better position to assess the most appropriate solution for your firm.

An IT-sponsored project could lean toward developing or licensing a very effective point solution such as a self-serve merchant sign-up portal, but it would inevitably fall short when it comes to solving the entire process from initial data collection all the way through to fast, efficient KYC and underwriting.

One of the only ways left to compete in this market is by increasing operational efficiency by breaking technology silos and [using] flexible systems.”

ANEET BANSAL, Capgemini Financial Services

In order to reduce administrative costs, increase revenue, improve underwriter productivity, and dramatically transform the merchant experience, the entire process has to be optimized, not just the aspects most visible to the merchant.

CONSIDERING YOUR OPTIONS

After creating a clear business case that aligns with the larger organizational goals, the next step is to consider the specific benefits and drawbacks to each type of solution.

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BUILDING A CUSTOM SOLUTIONOrganizations with internal development resources may be technically equipped to build a solution in-house. However, very few payments organizations have the required combination of time, internal resources, KYC expertise, and market foresight readily available for building their own merchant onboarding solution.

Partnering with a custom business process management (BPM) provider experienced in onboarding projects takes approximately 12-18 months to implement. Attempting to undertake the same custom project without the expertise and resources of a BPM firm would push the completion well past 3-4 years.

An organization could also choose to build a point solution internally with a significantly reduced scope. Leveraging internal development resources could result in digital application forms coded within weeks, replacing some, but not all, paper-based processes. While this may result in increased efficiency, it will ultimately become another legacy roadblock preventing unified, fast, efficient onboarding from beginning to end. Capgemini’s research report indicates that,

“one of the only ways left to compete in this market is by increasing operational efficiency by breaking technology silos and [using] flexible systems”.1

“I’m a strong advocate for configuration over customization when implementing a digital onboarding platform. This approach gets the solution launched fast, prevents scope-creep, and keeps the organization focused on core initiatives.”

ERIC GEORGE, SVP Operations, EPSG

The merchant onboarding process extends from the initial sales process across channels, to data collection, KYC and counterparty credit checks, and also underwriter adjudication. An effective merchant onboarding solution supports and automates every step of that process, spanning almost every department in the organization, and integrating with a CRM or system of record to produce cohesive merchant records.

Due to the complexity of delivering and maintaining this functionality to an operation, building in-house is unrealistic for most organizations.

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DETERMINING THE ROI

Payments organizations with internal development resources often operate under the assumption that building internally will be more cost-effective, as they can simply redirect existing resources toward a new project. There may be some truth to this, but only when applied to the very long term, under a “set it and forget it” approach. Internal build projects have an enormous up-front cost, as they take years to develop and launch, but could be marginally less expensive on an annual basis if there are minimal updates and enhancements over the years.

BUILD VS BUY CASE STUDY

A merchant acquiring organization headquartered in Atlanta mapped out their options for scaling their merchant onboarding system to handle 1,000 merchant applications per month, comparing the cost of manually scaling by increasing employee count, building custom software internally, and partnering with an existing software provider.

Their projected costs to build: Manually scaling (hiring more back-office staff): $1million

Building internally: $2M development, $215K annually

Licensing onboarding software: $200k development, $315K annually

The $2 million development costs of building internally, combined with a 3-year development schedule, would set the company so far behind the competition that they decided to license software from an onboarding provider. They saved millions of dollars and launched in months, rather than years.

While the projected cost for software from an onboarding provider may vary widely from project to project, and from vendor to vendor, these approximate ratios are a good benchmark. The cost of internal development is roughly 10x the amount it would cost to partner with an existing onboarding provider. There is a tendency to underestimate the amount of time it takes to maintain the system’s adaptability as industry regulations, trends, and competitive pressures change.

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AN AGILE APPROACH

Agreement Express is a cloud platform that can be implemented in a matter of weeks, even for the largest organizations. This approach sets us apart from other onboarding providers, significantly reducing any set-up development costs, and empowering our customers to go live almost immediately.

CRITERIA FOR INTERNAL BUILD SUCCESS In general, organizations looking to build their own solution will succeed only if:

They have extensive development resources

They have unique business problems that require custom-built software

They don’t need to launch urgently (within a year)

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When those three conditions are met, building an in-house solution could be the best approach. However, these conditions do not describe many competitive merchant acquirers or ISOs today. Merchant attrition is increasing by 20% per year, which is more than most merchant acquirers or ISOs can afford.1 The industry is changing quickly, and forward-thinking companies need to change just as fast.

Cloud platform

REDUCE YOUR TOTAL MERCHANT ONBOARDING TIME FROM 2 WEEKS TO 5 MINUTES

WITH AUTOMATION.

Quick Implementation Fast Time to Revenue

+ = $ $ $

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COMBINING MULTIPLE SYSTEMSThe second approach is to integrate multiple technology components to achieve onboarding automation. Organizations exploring this route are aware they can’t build an internal solution and believe they have most of the baseline systems in place already. Digital signatures and fillable PDFs may have already been introduced into the onboarding process. All that’s needed, in theory, is a few add-ons and developers to integrate systems.

Every onboarding project involves combining systems in one way or another. For example, most Agreement Express customers have an existing CRM system they need to integrate with, and many also

have a back-office system of record. A robust onboarding platform must integrate with these important systems. However, the type of integration we’re discussing in this section is the combination of multiple systems as a replacement for or alternative to an end-to-end onboarding platform.

On the surface, combining and integrating existing technology is the most cost-effective solution. However, when you begin with the business case and the long-term ROI, rather than beginning with an IT framework and a short-term view, this option is far less viable than it seems at first glance.

At a strategic level, most organizations with an onboarding project in view are looking to achieve one or more of the following goals to affect overall KPIs:

GOAL OVERALL KPI

Make operational processes more efficient

Facilitate faster merchant sign up with fewer errors

Improve the productivity of underwriters

Reduce back-office costs

Increase revenue

Scale the business

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When beginning a project with these goals, combining your existing technology becomes a less effective means to the end, for three distinct reasons:

Auditability: Operations and underwriting teams will lack the visibility of a single view of the merchant, which will lead to administrative drag and, more importantly, compliance lapses.

Resources: Back-office staff will spend a considerable amount of time re-keying information between multiple systems and troubleshooting the system integrations.

Scalability: As your organization grows, or seeks to expand the onboarding process across new lines of business, it becomes more difficult to continue using existing technology.

AUDITABILITY

Regulatory scrutiny is only getting more stringent for merchant acquirers. According to Thomson Reuter’s global Cost of Compliance survey, 69% of financial institutions expect industry regulators to release new compliance information in the next year, and 69% of financial institutions reported they have increased their compliance efforts in the last year to satisfy changing regulations.2

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When combining disparate systems to manage the onboarding of a new merchant, there can be no single, unified view of the customer. Basic company information can be captured in a CRM system with some integrations, data entry, or both, but a comprehensive KYC and compliance view will be very difficult to establish.

In the case of merchant acquirers, auditors are looking for thorough and consistent KYC records.3 While most acquirers may be collecting the necessary KYC information, disparate systems will prevent them from documenting and storing that information in a coherent and auditable manner that does not open them up to regulatory scrutiny.

RESOURCES

Initially, combining existing technology will be less expensive, and you will be able to realize value much faster than building your own solution. However, your organization will be reliant on multiple technology vendors having robust APIs and documentation to make your systems work together. Having more systems will mean more troubleshooting costs and more data entry. The switching costs are also higher, as you may realize the need to transition to an integrated onboarding platform in the future, but will be unable to cancel multiple annual licenses all at once.

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SCALABILITY

Many larger organizations find they are only able to begin an onboarding project in one line of business or for one channel, such as online self-serve. This is sometimes the most practical approach. However, over time, your processes will inevitably have to scale across lines of business or across product offerings. It is difficult to scale up, or down for that matter, when working with too many disparate systems.

CRITERIA FOR COMBINING MULTIPLE SYSTEMS

Combining existing technology is a suitable option for organizations that already have many of the necessary technology components in place, do not foresee having to scale across additional lines of business or channels, and are satisfied with their current level of visibility and control.

When all those conditions are met, you can launch a relatively efficient onboarding solution that realizes value much more quickly than an internal build. However, our recommendation is to take an even easier, and more cost-effective approach, one that has been proven in many organizations similar to yours.

LICENSING ONBOARDING SOFTWAREPartnering with an onboarding automation software provider is the most effective, efficient, and least costly way to improve the onboarding process. An automated onboarding vendor understands the complexity of unique business environments; they’ve already overcome the roadblocks that will be encountered and have enhanced the solution after years of industry expertise and customer research. At Agreement Express, for example, we have been building, testing, and continually iterating our enterprise onboarding software for over 15 years. To ensure we are using the latest encryption techniques, adapting to regulations, and maintaining our leadership position, we continually update our system every two weeks, as per best practices of agile software methodology.

Agreement Express allows EPSG to provide a single, end-to-end platform for our sales teams, partners and servicing agents. Unifying everyone through one flexible system makes it easier to track deals throughout the customer journey and manage input from one portal.” ERIC GEORGE, SVP Operations, EPSG

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We add further value by establishing partnerships with other key technology vendors to provide a robust partner ecosystem that automates the onboarding and underwriting process (read more on p.15). In short, it would take years of heavy resourcing and an investment of millions of dollars on any organization’s part to recreate a similar offering.

Global consulting firm PwC authored a report entitled ‘Build vs. Buy Decision-Making Framework’ and found that the top decision-making criteria for whether an organization should buy rather than build was if the organization has a ‘highly unattractive’ process. In PwC’s framework, an ‘unattractive process’ has three characteristics: it is hard to replicate; difficult to find expertise in; and involves a highly-regulated industry or process. According to the PwC framework, merchant acquirers who exhibit those three characteristics would be better off acquiring vendor-supplied onboarding software rather than building internally.

AUTOMATED UNDERWRITING

Merchant acquiring is becoming increasingly competitive, with same-day or even same-hour underwriting decisions the expected norm. In the race to shorter application times, the quality of the organization’s underwriting can suffer. This is why it’s important to automate the process and apply nuanced learning that trains the system to make better decisions over time. An automated underwriting platform uses information from the merchant account application, credit bureaus, fraud services, and other data sources to assess the creditworthiness or risk of a potential customer. Underwriting automation can also be applied to ensure comprehensive and current compliance with legislation and best practices, such as Know Your Customer (KYC), Anti-Money Laundering (AML), and other anti-fraud activities.

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RISK SCORECARD AND AUTOMATED WORKFLOWS Agreement Express offers a powerful automated underwriting solution, made even more effective by a workflow-driven environment customized to the organization’s needs. At the core of the system is the Risk Scorecard, which standardizes risk decisions by capturing information from a merchant application and pulling data from leading third-party APIs to collate watchlist checks, credit scores, merchant website information, and other essential KYC data points. After the data enters the system, a sophisticated workflow manager determines tasks that will be executed in scorecard evaluations. Defined rulesets will execute the corresponding scenarios and, if applicable, specify how to reuse already-stored data. The Risk Scorecard produces a single, normalized risk score for each application and can automatically accept or reject based on the individual organization’s risk thresholds. Applications that fall into the grey area are digitally delivered to underwriters with a recommendation to approve or decline, highlighting the

attributes that require further review. Underwriters are freed from administrative work to do what they do best - reviewing all the required data and making meticulous decisions on the exceptions. Over time, the grey area becomes less ambiguous and the organization can reap further gains in efficiency by increasing the ratio of auto-decisioned to manually-decisioned applications.

MEANINGFUL INSIGHTS FROM THE DECISION ENGINE The Agreement Express decision engine goes well beyond process efficiency. It pulls aggregated data from the entire onboarding process, including data capture, QA and review, compliance and analysis, and processing and approval. As more applications are accepted and rejected and data accumulates, the system learns how to provide teams with insights that matter to them. The more feedback the system receives, the faster it will evolve into making its own accurate decisions and recommendations, providing meaningful, customized data to guide smart human decisions.

AUTOMATED UNDERWRITING

THE MORE FEEDBACK THE SYSTEM RECEIVES, THE FASTER AND MORE ACCURATELY IT WILL EVOLVE


ONE PLATFORM

By using one platform for every onboarding action, including digital merchant applications, digital signature, and risk decision-making, human error and data entry are reduced to almost zero.

Sales staff become more productive, underwriters are freed from sending applications back to salespeople for clarification or resolution and, most importantly, the merchant receives confirmation the same day they applied.By using one platform, risk and operations leaders are also given unparalleled visibility into each stage of the process. This gives an objective view to which stage takes

“In payments organizations where volume is growing, underwriting managers face the daunting prospect of increasing speed and throughput with the same amount of staff.

At around the 500 applications a month level, merchant acquirers find it increasingly difficult to be fast and efficient while still being thorough and consistent – unless they automate the underwriting process. And you can’t fully automate the underwriting process unless automated KYC is included. Manual KYC aggregation and review is usually the most time-consuming, inconsistent and expensive piece of the entire underwriting process.

Together with Agreement Express, we’ve helped merchant processors achieve auto-decisioning for over 60% of merchant applications, based on their underwriting rulesets. Underwriters now only need to review 40% of applications, but in a highly efficient and consistent manner.”

MATT PARKER, Principal, KYC SiteScan (Agreement Express technology partner)

REDUCE HUMAN ERROR TO ALMOST ZERO.

the longest, which underwriters are most productive, where the most errors happen, and the distribution curve of where each merchant falls on the risk scale. With this level of insight, incremental changes can be made to the process to continually improve efficiency, eventually meeting the speed of Square without sacrificing due diligence.

This level of cohesion, insight, and iteration is difficult to achieve through an internally built or modified onboarding solution.

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SAGE PAYMENT SOLUTIONS: ENHANCED ONBOARDING AND UNDERWRITING

“The review process between building or buying a solution to enhance our merchant onboarding were made easy with the review of Agreement Express. Sage entered into the process looking for a way to speed up our merchant adjudication process and automate as much as possible. During the review of Agreement Express we realized we would not only acquire a significant enhancement to our underwriting process, but we would also gain an entire merchant signature and onboarding experience. As a part of this onboarding experience, the addition of document capture and digital signature have been critical enhancements to our merchant onboarding.

Sage Payments is very satisfied with the decision to go with Agreement Express and look forward to further implementing their solutions offerings into our ecosystem in the near future.”

TODD METHENY, Sage Payment Solutions

THE NETWORK EFFECT

The payments space is hyperconnected across vast ecosystems and the onboarding solution needs to facilitate these critical business connections, rather than prove a technical barrier. The Agreement Express Merchant Application Network enables clients to open a new referral relationship with any other company using Agreement Express, removing any need for technical integration or development.

For Payment Service Providers (PSPs), the Merchant Application Network provides automated merchant onboarding directly integrated to their acquirer or Super ISO. For acquirers and Super ISOs, the network opens incremental channels to receive applications from partners without the time, cost, and risk associated with API integrations.

When a merchant submits a merchant application to a PSP, the PSP can post that application to any acquirer in the network. This can be automated, or set as a manual process.

When an acquirer in the network receives an application, it’s processed through their existing underwriting and onboarding workflow. The Agreement Express Risk Scorecard underwrites the application to determine its suitability and if it doesn’t meet the acquirer’s risk profile, they can also elect to pass it to another acquirer in the network either manually or automatically.

Agreement Express is capable of determining which acquirers will accept the application, given their risk profile.


In your search for the best onboarding vendor to partner with, we recommend looking into specific results with existing clients such as:

Software implementation time of 3 weeks or less achieved through agile activation methodology

Roll-out out of MPOS onboarding in multiple countries, in multiple languages, quickly on one platform

Near elimination of application errors achieved through real-time error checking and data validation

Increase client application return rate to more than 98%

Near elimination of all data entry through data reuse and external data capture and verification

Reduction of total onboarding time from over a week to less than an hour

Instant decisioning through automated underwriting

Straight-through processing from merchant application, to underwriting, to acquirer

Automated product selection and pricing, through client self-service portal

Scalability of underwriting and sales departments through productivity increases greater than 40%

This decision criteria will help you weed out traditional BPM-oriented vendors who may have succeeded in major software implementations for some of these specific criteria, but will not be able to help your organization achieve an end-to-end digital transformation of the merchant boarding process.

EVALUATING ONBOARDING VENDORS – A CHECKLIST

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RECOMMENDATION

There are two main considerations for organizations assessing their need for a merchant onboarding platform:

Do our business goals call for a merchant onboarding process improvement?

Do we have the budget for an annual enterprise license of onboarding software?

As discussed, any merchant acquirer hoping to remain competitive in the face of decreased margins, merchant attrition, and competition from non-traditional players, must answer ‘yes’ to the first question.

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The second question, however, is more complicated. While combining existing technology for a new purpose can be cost-effective, it does not offer a fully integrated end-to-end onboarding solution.

Building custom software may initially be less expensive than licensed software, but maintaining it over time will make it more expensive in the long run. It will also take years to develop, which is too long given the pace of change, and is a missed opportunity for leveraging insight and best practices that established vendors have accumulated through many years of industry expertise.

CASE STUDY: CAYAN

“Cayan aspires to make it easy to do business with us. Our partnership with Agreement Express allows us to deliver a sophisticated automated merchant onboarding solution that makes our promise a reality.”

- MARC CASTRECHINI, VP of Product Management

Cayan is a leader in payments processing and technology. They had already achieved significant levels of automation in their business, but had a clear strategy for the future.

They wanted to achieve three things: Create a scalable digital signature solution, increase the productivity of their sales team, and automate underwriting to improve organizational efficiency. They partnered with Agreement Express and solved their goals with one central platform.

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TECHNOLOGY-ENABLED TRANSFORMATION

There’s a lot at stake when spearheading an overhaul of your merchant onboarding process. When executed properly, it can result in unprecedented levels of efficiency, visibility, and control within the organization while enhancing the merchant experience by making it faster and easier to onboard. We’ve seen key leaders take initiative and successfully leverage technology to bring a merchant onboarding automation vision to life. These change agents have often seen their own careers elevated, due to the value they have demonstrated to the business. On the other hand, we’ve also witnessed others attempt an internal build project that was bigger than anticipated and ended up wasting valuable time and resources, only to be shown the door after failing to produce meaningful results.

The Build vs. Buy decision is too critical to be left to hunch or speculation. If your organization does the work of building a thorough understanding of the need, the business requirements, and alignment with a forward-thinking strategy, the right solution will become apparent.

Meaningful digital transformation is entirely possible with the right vision and technology. We’ve enabled countless financial institutions of all sizes to offer a better digital experience for their merchants, while becoming significantly more efficient, compliant, and profitable across the organization through a unified, digital onboarding platform.

BUILDINGSITE

ONBOARDING IN PROGRESS

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YOUR ONBOARDING PARTNERAgreement Express is the leading merchant onboarding platform for the payments industry. We help merchant acquirers, ISOs, and payments technology companies of all sizes achieve total digital transformation in their merchant onboarding and underwriting processes.

Still have questions after reading this guide? We’re here to help as your onboarding automation partners.

SEE HOW GLOBAL PAYMENTS INCREASED THEIR APPLICATION RETURN RATE FROM 40% TO 100% BY IMPLEMENTING AGREEMENT EXPRESS.

Contact one of our onboarding experts at [email protected] or visit us online at agreementexpress.com.

1Bansal, Aneet (2012). Challenges & Opportunities for Merchant Acquirers. Capgemini. Retrieved from http://www.lansholdings.com/r_d/Challenges___Opportunities_for_Merchant_Acquirers.pdf

2Brewster, Lemuel; Harrop, Mark D.; and Mairs, Brian (2016, June 23). More Regulations and Fewer Resources Squeeze Financial Compliance Teams, Thomson Reuters Global Cost of Compliance 2016 Survey Reveals. Thomson Reuters. Retrieved from https://www.thomsonreuters.com/en/press-releases/2016/june/thomson-reuters-global-cost-of-compliance-2016-survey.html

3Parker, Matt and Agreement Express (2017, January 3). Meet the Experts: KYC SiteScan. Agreement Express. Retrieved from http://agreementexpress.com/2017/01/03/meet-the-experts-kyc-sitescan/

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https://agreementexpress.com/2016/01/22/global-payments-onboarding-automation/

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