Case Study: SeQura speeds up merchant onboarding with Parallel

SeQura cuts merchant onboarding time by 83% with Parallel

SeQura, a fast-growing FinTech specializing in flexible payments, faced a significant challenge in manually onboarding new merchants. The process, driven by increasing Anti-Money Laundering (AML) regulations, was cumbersome and time-consuming, involving extensive back-and-forth emails to collect documents for KYC/KYB checks and contract generation. This created friction for merchants and strained internal teams, threatening to slow the company's rapid growth. SeQura partnered with Parallel to find a solution.

Parallel implemented a platform to automate SeQura's KYC/KYB and contract generation processes. This centralized all requests, eliminated manual tracking, and integrated with tools like Slack and HubSpot. As a result, SeQura reduced its merchant onboarding time by 83%, cutting the KYB process from up to a month down to 4-5 days. Contract completion became 55% faster, and the automation saved an estimated 701 hours previously spent chasing documents. Parallel enabled SeQura to scale its operations while maintaining full compliance and providing a superior merchant experience.

SeQura