Value Stream:
Enroll
Accelerate client onboarding with verified business, KYC, banking and payment history data — so you can approve faster, detect fraud earlier, and scale with confidence.
Overview
For payment providers, merchant enrollment is the first impression — and the first risk. But fragmented systems, manual KYC, and endless document reviews slow growth and open gaps for fraud.Centric unifies KYC, KYB, and risk intelligence in one adaptive workflow. Access verified business data, ownership structures, and transaction history to activate merchants in minutes — not days — while staying fully compliant with CBN and AML requirements.
Key Statistics
45% of merchant applications stall due to incomplete KYC data – LexisNexis Risk Solutions
30% of merchant drop-offs occur during onboarding – Worldpay Merchant Trends Report
60% reduction in manual review time with AI-driven verification – McKinsey Digital Risk Survey
Payment providers that onboard merchants within 24 hours see 2.5× higher retention – Accenture Payments Pulse 2024
Disjointed Systems
Data scattered across CAC, BVN, bank APIs, and spreadsheets.
Manual Reviews
Long, repetitive verification cycles delay activation and increase operational cost.
Static Risk Models
Rigid logic misses new fraud patterns.
Compliance Overload
Teams face mounting pressure to maintain AML/KYB monitoring across thousands of merchants.
Data Gaps
Maintain up-to-date risk and compliance status with real-time monitoring of merchant activity and behavior.
Synthetic and Shell Business Fraud increasing across digital payments.
Regulatory Tightening from CBN, NFIU, and global AML frameworks.
Merchant Churn driven by slow or unclear approval processes.
Revenue Leakage from inaccurate risk classification and pricing delays.
Unified Onboarding
Automated document collection, validation, and approval routing.
Instant KYC/KYB
AI models that evolves with merchant behavior.
Smart Pricing
Dynamic plans aligned with merchant risk and volume.
Continuous Monitoring
Embedded AI agents for real-time compliance and anomaly detection.
Learning Feedback Loops
Every approval and fraud event refines future accuracy.
