In a seller-centric system, all processes are aligned with the seller profile, from the pay-in to the payout.
Seller profiles that reflect the different risk levels during the seller journey speed up onboarding processes while maintaining integrity of the compliance criteria.
For each profile type and risk level, the business processes follow a different pattern in line with compliance and risk control requirements, such as:
- ID verification requirements
- Amount and velocity limits
- Payment methods allowed
- Security reserve levels
- Payout scheduling
Adapting the system behavior to the different account profiles allows the marketplace to grow fast while keeping compliance simple and sustainable.
The following onboarding sample depicts one of the unlimited rules combination that are available in order to control the risk of a Seller at each status of the onboarding process as well its compliance with any regulations and requirements at the account level throughout its lifecycle.
In this sample, the first stage allows easy onboarding with minimal data, supporting fast growth while controlling risk and compliance.
In order to improve the business terms and enable true commerce, the seller is required to fulfill certain requirements. In this sample the requirements are financial information of several categories, each representing a different risk level. For compliance purposes, this stage could include:
The Seller Profile reflects a living mechanism, adapting Seller payment options & restrictions to the compliance and risk control requirements continuously. This stage shows the correlation between transaction history and business terms for a high volume seller profile.
Seller Accounts are monitored throughout their lifecycle for any behavior change that may affect their profile or require intervention due to compliance or risk issues. Specially defined alerts prevent from these changes to go unnoticed while the back office provides access to all the necessary tools to control them.