Under.io Helps SMB Global Expands Payment Opportunities

Challenge: Reduce Redundancy, Improve Communication, and Quickly Qualify Leads 

Key Metrics:

  • 50%   Increased the number of completed agreements by 50%.
  • +  163   New merchant accounts added.
  • -  250 Steps reduced


As a broker, SMB has access to multiple banking solutions, each with different application requirements. Each new submission requires administrative staff to manually input client information. SMB wanted the ability to qualify leads coming into their system quickly instead of having to enter the same data repeatedly into multiple banking systems.

In addition to seeking ways to reduce redundancies, SMB needed an online signature platform that was transparent, easy to use, and efficient. Company leadership recognized that they needed more advanced technology to compete with the industry's giant payment facilitators (PayFacs). SMB needed to leverage a Fintech solution to update their data ecosystem and respond to customers’ expectations.

The Solution from Under.io

Through a mutual contact, SMB discovered the underwriting tool that could help streamline the processes that involve their sales cycle. Under.io was able to automate tasks like PDF mapping, document gathering, e-signatures, KYC identity verification checks, Pre-Vet applications, integration to IRIS, and adding embedded application and prevet links to enhance the consumer experience.

Under.io offered a one-stop-shop solution that could cut days out of a typical sales cycle by providing seamless integration into their processor(s) and CRM by embedding links in email campaigns and the website.

Under.io’s solution also filled in the gaps that often occur while communicating with customers. All pertinent data is relayed through email or embedded forms on their website. As a result, this provides a PayFac/payment aggregator feel for a seamless user experience. “We absolutely love that we can get an email out with a 'pre-application'. It collects the data needed to fill out an application without putting it on the actual application. This allows us to review the information, qualify the leads, and decide which applications to approve. In addition, we can utilize their KYC and KYB checks to ensure we are focused on the right leads,” says Crosby Gull, Operations Manager.

Under’s solution takes a pre-application and inputs the data into several applications without copying and pasting or manually filling out multiple applications. All the administrator needs to do is provide an e-signature from their system to complete the process. For some of the internal onboarding docs, an e-signature isn't required. SMB can easily map the data to the following document and submit it, streamlining the steps it takes to fully onboard or add services to a merchant account.

Better Communication & Better Service

With all the payment facilitators available in the industry today, customers can afford to be picky. They demand convenience and efficiency. Under makes creating and maintaining accounts for even the most challenging customers easier, minimizing complaints. The app can identify and correct application errors, eliminating long email threads with an underwriting team.

With solutions provided by Under.io, SMB has increased the number of completed agreements received by 50%. This results in 163 additional merchant accounts. In addition, using Under’s checks and their specialized knowledge, SMB can now sort out the most qualified leads with faster turnarounds. (Typically, 25% of applications received are genuinely qualified.)

Using Under’s KYC, the other 75% can be quickly disqualified, saving valuable company time and resources.

Under.io's Teamwork & Easy Implementation 

“Implementation was fairly simple, with the greatest challenge being getting applications mapped. Ryan (McCurry, Client Success Leader at Under) made it easy to understand all the customization we had at our fingertips. Big emphasis on user-friendliness" said Gull.

Ryan’s position was the primary contact throughout implementation. He explained available options, conducted demos, and helped users understand some of the conditional logic that could be customized in the app. After several months of use, Ryan is still as attentive as he was during the initial setup.

To ensure they met all expectations, Under created an onboarding document with clear steps for both teams to follow. They completed demos, conducted weekly phone calls during the initial onboarding, then switched to monthly calls once live. They also maintained timelines and tables for SLAs and always had someone available to answer questions. Even roadblocks caused by user error were quickly resolved with a call or additional training session with Ryan.

After getting the applications into the system and customizing them to SMB specifications, the most challenging work was over. With the default values and all desired variables in place, the product flexed its actual value, ease. Now a system user could select the options they wanted to be prefilled, making applications more straightforward for the merchant to complete. SMB went from filling out over 300 fields per application to less than 50.

Expanding Payment Opportunities with Under.io

“Now that onboarding is complete, and the app is in use, we are impressed with how easy it is to use. We receive data, can embed links to multiple sources (website, emails, etc.), and are using Under.io to create more onboarding docs than we originally thought possible. For example, links for agents and agent docs, W9s, VAS (Value Added Services), addendums, etc.” says Tyler Huegly, President of SMB.

“Our near-term goal includes creating 1099 agreements for agents to get them onboarded quicker. Then, with a few clicks, we can send the request for an e-signature, and we're ready to go. Under eliminated the need for long pdf applications and the constant back and forth that traditional merchant accounts offer. We have had nothing but amazing reviews since implementing Under.”

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