ConnectPay is the banking service provider for online-focused businesses. ConnectPay is a regulated financial institution, supervised by the Central Bank of Lithuania. The company is authorized to carry out activities according to Article 28 of the Directive (EU) 2015/2366, by virtue of Article 3(1) of Directive 2009/110/EC.
As a regulated institution, ConnectPay is required to carry out a compliant client onboarding process. By utilizing Salesforce, ConnectPay was able to streamline and augment onboarding with well-defined business rules and processes. Salesforce platform was customized to automatically ingest customer data from the online registration form. The platform is adapted to comply with verification requirements and dependencies. For instance, if the client is from a higher-risk country, the platform automatically assigns this case for a review by a specialist review committee.
Only after the approval of all committee members, the onboarding can move to the next stage. In addition, customers from certain geographies or other pre-determined conditions are assigned to specialist onboarding agents.
The platform provides full accountability of the onboarding process and provides easy back-auditing. All the additional information added to the client account or the corrections are easily traceable.
The platform can also be used to provide auditing information to the regulator institution. In addition to onboarding transparency, the platform also provides all relevant customer information to support agents. Having all information on a single database also provides personalized upsell opportunities.