Challenge
Data collection for payment processors AstroPay is a London-based payment processor that serves clients all over the world. The company has to process a large amount of documentation on a regular basis, since partner companies have to be thoroughly vetted by banking regulators. AstroPay required a system that would efficiently record, organize and process regulation documentation.
Solution
Capicua created an easy-to-use interface that would enable AstroPay to collect the information they needed for banking regulators. First, the company can generate “cards,” like forms, for the merchants to fill out. They can select card templates from several categories and then customize them for each merchant, based on their country of origin and applicable regulations. Merchants can log in, fill out the cards, then submit them to AstroPay for review. Documentation (bank statements, tax forms, etc.) can be attached to the cards. AstroPay then has all the required information recorded in a central location, and documentation can be submitted to various institutions for approval.
Results
The system has streamlined AstroPay’s merchant approval process. For the next version of the product, the company plans to further automate, integrating the software directly with the third parties that play a role in the approval process.
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