Onboarding Conversion Engine (OCE)
KYB Timeline + Requirements + Remediation + Pre-Underwrite Validation
A platform-first onboarding product that converts Finix's onboarding primitives into a conversion-optimized, underwriting-aware workflow with KYB timelines, actionable requirements, pre-validation, and embedded remediation.
Target Segments
- Primary: Vertical SaaS platformsPlatforms embedding payments for SMB merchants (US-first; Canada where supported)
- Secondary: SMB-first marketplacesMarketplaces with similar seller onboarding needs
Why Now
- • Finix already positions seller onboarding via API as giving platforms "the most control" and exposes platform-native primitives + lifecycle states/webhooks
- • Onboarding/underwriting automation is explicitly called out as the main differentiation battlefield
- • Competitor pressure: Stripe pushes conversion-optimized components but reduces platform control; Adyen has KYC timelines; Braintree gates onboarding API
- • Switching-cost sensitivity: onboarding friction is a buying trigger and re-onboarding is a major switching cost
Objectives
Increase Activation Conversion
+10-20% relative lift in "approved + first payment in 7 days" vs baseline
Reduce Underwriting Cycle Time
30-50% reduction in median "submitted to approved" for low-risk SMB cohorts
Reduce Ops Burden
20-35% fewer onboarding-related tickets per 100 onboardings
Maintain Risk Health
Disputes/$GMV and loss rate for OCE cohorts not worse than control by >X%
User Personas
Platform PM (Vertical SaaS)
Owns activation, onboarding UX, monetization
Payments Ops (Platform)
Handles KYB follow-ups, support escalations, payout holds
Risk/Compliance (Finix + Platform)
KYB completeness, audit trails, acceptable risk
Platform Engineer
Integrates onboarding APIs, handles webhooks, builds retry-safe workflows
Functional Requirements
Core capabilities required to deliver on the stated objectives.
POST /onboarding/validate
Returns blocking errors, warnings, and missing required fields given an incomplete KYB payload
GET /merchants/{id}/onboarding
Returns status, timeline[], requirements[], reason_codes[] for merchants in review or action-required
Standardized Reason Code Taxonomy
Merchant-safe + platform-safe codes for update requests/rejections; stable and documented
POST /merchants/{id}/remediation_sessions
Returns secure hosted remediation link that is time-bound and scoped to required actions
Webhook: merchant.onboarding.requirements_updated
Fired whenever requirements list changes; includes merchant id + requirement summary
Onboarding Analytics Endpoints
Platform can query completion rate + top reasons over time window
Configurable Copy/Disclosure Templates
Finix-approved templates for embedded remediation; versions tracked
Fast-Lane Underwriting Policy Engine
Conservative cohorts with policy versioning, audit trails, and kill switch
Success Metrics
| Metric | Baseline | Target | Change |
|---|---|---|---|
| Merchant Activation Rate (NSM) | TBD (Feb baseline) | +15% relative | |
| Underwriting Cycle Time | TBD | -35% for low-risk cohort | |
| Update-Request Loop Rate | TBD | -25% | |
| Onboarding Tickets | TBD | -25% |
Rollout Plan
Discovery + Design
Map top "update requested" reasons; usability tests for remediation; validate reason-code tiers with risk/compliance
Build MVP
Validation endpoint + requirements API + remediation sessions + requirements_updated webhook
Pilot
2-3 vSaaS platforms with >=200 merchants/month processing OCE-driven onboardings
Beta + Hardening
Check-level timeline, analytics endpoints, security hardening, performance SLOs
GA
Broaden tenant availability, ship adoption accelerators, measure at scale
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