UK-based business banking platform Tide has partnered with fintech DueDil to improve the customer onboarding process.
The partnership entails improving the account opening process for SMEs and will see Tide leveraging DueDil’s intelligence platform to fast track KYC checks.
The platform will provide Tide with insights on more than 50 million companies globally to speed up the checks.
Moreover, DueDil’s API integration will allow Tide to view customer data accurately, reduce manual KYCs and bolster automatic onboarding.
DueDil co-founder and CEO Justin Fitzpatrick said: “By partnering with Tide at this important time for the market, we are committed to showing that regulatory compliance and customer experience can go hand in hand.
“Now more than ever, SMEs need financial partners that understand their business and can provide them with flexible support.
“Tide’s use of our web application and API will allow them to provide their customers with a slicker experience and more personalised service, ultimately reaching more small businesses in need.”
Tide will utilise DueDil’s integrated solution to automate the customer onboarding journey.
Overall, through this partnership, Tide can reduce onboarding times, process more applications, and bolster risk analysis, equipped with real-time company intelligence, noted DueDil.
Tide COO and CPO Laurence Krieger said: “We are delighted to be entering a partnership with DueDil to improve our account opening process and offer an even better experience to our members.
“One of the main reasons SMEs decide to use Tide for their business banking is because they have the opportunity to open an account within minutes through the app.”
