Key metrics:

• 15 hours of manual SMB onboarding work saved every week 
• Automated SMB onboarding across multiple countries
• Seamless integration with the rest of Stenn’s risk tech stack

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Problem statement

Since 2015, Stenn has successfully helped SMB's in over 75 countries access $20 billion in working capital, enabling them to scale operations and expand into new markets. In order to achieve this ambitious mission, the team is constantly searching for ways to onboard and underwrite SMBs more accurately and efficiently.

Stenn’s customers often operate in multiple countries, which means that Stenn’s SMB onboarding processes must cover a similar global footprint. Historically, multiple teams across Operations and Risk have manually checked SMB applications prior to approval. These reviews included website and online presence assessments.  

As the business has scaled, the team was looking for a partner that could help automate these checks and streamline their internal workflows.

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Solution

After a quick period of data testing, Stenn began using MerchantProfiler – our SMB risk intelligence product – to automate SMB website analysis and online presence checks. The team’s decision to leverage Coris came down to 2 key factors.

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Worldwide SMB data coverage

MerchantProfiler automatically offered insights on SMBs operating in multiple countries. Instead of conducting manual searches repeatedly and using multiple tools, the Stenn team now uses MerchantProfiler to pull relevant information needed for onboarding decisions (e.g., SMB website analysis, and insights from 3rd party review platforms such as Facebook, Google, Yelp,).

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Instant website reputational analysis

Stenn invests a significant amount of time reviewing SMB websites: How reliable is the website? Are there any website signals suggesting the SMB is engaging in suspicious activity? 

With SiteRating, the team accelerates website reviews by instantly receiving a website risk classification score, along with detailed insights supporting the score (e.g., domain age, presence of certain pages, accepted payment methods, merchant type, and more).

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The result: 15 hours of manual SMB onboarding work saved per week

With MerchantProfiler, the team now makes automatic onboarding decisions for hundreds of merchants every week, saving 15 hours of manual work. The team expects to save even more time as it adopts additional Coris products - such as Adverse Media and GPT-powered MerchantVision – for additional use cases.

Stenn’s customers benefit from this automated process too. They now receive faster onboarding decisions, and can access Stenn’s crucial digital trade financing even faster.

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Want to learn more?

Interested in leveraging Coris to automate your SMB onboarding and underwriting strategies? Get in touch.