Accelerate Contract Activation and Streamline Compliance with Cutting-Edge Technology
At Zenpli, we believe in building solutions that address real-world challenges. To develop our groundbreaking KYB automation platform, we collaborated closely with five design partners - B2B credit providers to SMBs in Mexico, Colombia, and Chile, with a combined $350 million in equity and debt facilities. Through over 3,500 minutes of detailed interviews and tests, we gained invaluable insights into the pain points of B2B onboarding.
The Problem: A Costly Bottleneck in B2B Growth
Our research revealed a startling truth: the status quo of Know Your Business (KYB) processes is a significant barrier to B2B growth. Manual, slow, and error-prone systems are costing companies dearly in both time and money.
"We lose days, sometimes weeks, of potential revenue due to our current KYB process," shared the Head of Compliance from one of our design partners. "It's not just about the lost time - it strains our relationships with clients from the very beginning."
Key findings from our design partners:
- Average time-to-activate a customer: 180+ minutes (best-case scenario)
- Up to 80% of B2B applications require clarifications, each taking an average of one week
- Estimated revenue loss can add up to $360 per B2B application due to delays
The Head of Sales of another design partner added, "The back-and-forth with applicants over document errors is frustrating for everyone involved. We need a more efficient way to collect and verify information."
The Solution: Zenpli's AI-Powered KYB Platform
Introducing Zenpli's revolutionary KYB automation platform - a comprehensive solution designed to become the new standard in B2B onboarding. Our platform leverages cutting-edge AI technology to streamline the entire KYB process, from document collection to final decision-making.
The platform consists of four powerful modules:
- Document & Data Recollection: A self-service mechanism for collecting corporate documents and data, enhanced by Generative AI for pre-screening and business rule application.
- Data Extraction: Utilizes Generative AI to extract, verify, and validate data from non-standard documents, reducing review time by at least 90%.
- Verification: Enables cross-verification of data fields and third-party verification against government sources for comprehensive due diligence.
- Decisioning: Transforms extracted data into actionable insights, empowering compliance analysts to make faster, more informed decisions.
Key Benefits: Driving Efficiency and Growth
Zenpli's KYB automation platform delivers substantial benefits to B2B credit providers:
- Dramatic Time Savings: Reduce time-to-activate from 180+ minutes to mere minutes, accelerating revenue generation.
- Cost Reduction: Save approximately $50 in direct costs (man-hours) per application.
- Revenue Protection: Prevent an average of $360 in lost revenue per B2B application due to delays.
- Improved Accuracy: AI-powered extraction and verification significantly reduce errors and the need for clarifications.
- Enhanced Compliance: Streamlined processes and comprehensive checks ensure robust regulatory compliance.
- Better Customer Experience: Faster onboarding and fewer back-and-forths lead to improved client relationships from day one.
Looking Ahead: Setting the New KYB Standard
With this launch of our AI-powered KYB platform, we're not just introducing a product - we're pioneering a new standard in B2B onboarding. With over 10 million SMBs in our initial focus markets of Spanish-speaking LatAm, the potential impact is enormous.
"Zenpli's platform has the potential to revolutionize how we approach KYB," remarked the Chief Compliance Officer from our design partner cohort. "The ability to process complex documents in minutes rather than hours is a game-changer for our team."
As business inclusion becomes the next frontier following individual financial inclusion, Zenpli is positioned at the forefront of this transformation. Our AI-powered solution addresses the growing need for robust business verification in an era of increasing B2B fraud, setting a new benchmark for efficiency and security in business onboarding.
Ready to Transform Your B2B Onboarding?
Don't let outdated KYB processes hold your business back. Contact us today to learn how we can help you activate customers faster, reduce costs, and drive growth while maintaining strong compliance.
Visit www.zenpli.com to schedule a demo and see the future of KYB in action.
