PayU Global Payment Organization (GPO) recently set out to streamline its customer onboarding process. As a trusted payment solutions provider for over 450,000 merchants worldwide, PayU recognized the importance of a swift and foolproof identity verification workflow. This pursuit led them to the expertise of AU10TIX.
The Challenge
Handling a staggering 10 million transactions daily across more than 40 emerging markets, PayU identified the central role of Know-Your-Customer (KYC) processes in risk mitigation. Tomasz Kowalak, Head of Risk Operations EMEA at PayU GPO, highlighted the multifaceted risks they navigate, emphasizing the need for meticulous KYC processes to ensure regulatory compliance and thwart financial crimes.
The Quest for Precision and Automation
In their quest to elevate the quality of merchant verification and seamlessly manage the influx of new businesses, PayU sought an identity verification partner specializing in AI and automation. Their pursuit led them to the sophisticated solutions offered by AU10TIX.
The Partnership in Action
AU10TIX brought a comprehensive approach to PayU’s identity verification, leveraging extensive third-party security databases and cutting-edge AI models. Integrating AU10TIX’s solution into PayU’s operations through Azure API Management streamlined the verification process, reducing ID verification time to an impressive six seconds. AU10TIX’s face comparison tool, rooted in complex algorithms, further bolstered security by analyzing various facial parameters.
Transformation and Customer Satisfaction
Implementing AU10TIX’s solution significantly transformed PayU’s customer onboarding process. With an average ID verification time of just six seconds, the customer experience was vastly improved. Kowalak noted that this not only met their goal of screening customers faster but also ensured a smooth onboarding process, a crucial factor in customer satisfaction. Moreover, AU10TIX’s solution played a pivotal role in a remarkable increase in the conversion rate, reaching up to 25 percentage points depending on the Digital onboarding flow. The seamless and nearly invisible ID verification process became instrumental in attracting and retaining customers who valued the quick and efficient service.
Operational Impact and Scalability
The positive impact of automation extended beyond efficiency gains, influencing the productivity of PayU’s teams. With fewer personnel to manage the verification process, resources were freed up for other projects, fostering skill development within the organization. AU10TIX’s Azure-based infrastructure provided the required scalability and instilled confidence in handling large customer influxes during promotions. Kowalak emphasized that AU10TIX contributed both speed and business continuity, potentially leading to increased revenues.
Insights, Collaboration, and Future Growth
AU10TIX transcended its role as a technology provider, becoming a conduit for valuable data exchange. PayU gained insights into common mistakes and rejection reasons, enabling continuous process improvement. The partnership facilitated improved communication with merchant partners and instilled confidence in scaling into new regions and segments.
