REPAY, a noted provider of payment solutions, has announced a strategic integration with Worth, a fintech platform specializing in underwriting and onboarding workflow automation. The collaboration aims to expedite the process of merchant onboarding and vendor enrollment by leveraging Worth’s extensive data points, which exceed 1,100 in total. These meticulously gathered data points are set to provide precise and timely decision-making crucial for underwriting and onboarding processes for both consumer and business payments. By incorporating Worth’s advanced tools, REPAY expects to significantly reduce the time to revenue for new implementations while also ensuring that KYB (Know Your Business) risks are minimized through accurate data provision.
Sal Rehmetullah, the co-founder and CEO of Worth, emphasized that their mission aligns perfectly with REPAY’s goals of democratizing data and enhancing decision transparency. In his statement, Rehmetullah expressed confidence that the integration would yield a more efficient and secure onboarding process. David Guthrie, the CTO of REPAY, added that embedding Worth’s financial tools into their systems guarantees a fast and secure addition of businesses into the REPAY ecosystem. This partnership marks a significant step toward boosting REPAY’s position in the competitive fintech market by leveraging Worth’s capabilities to streamline and secure underwriting activities.
Overall, the integration between REPAY and Worth is set to revolutionize and speed up the process of merchant onboarding and vendor enrollment, highlighting a significant move toward automated and data-driven decision-making in the fintech industry. This collaboration demonstrates a growing trend in the sector, where sophisticated data-driven platforms are integrated to improve operational efficiencies and enhance risk management.