Onboarding case study

Onboarding is the process of converting an application into an account, essentially making someone a customer. Before that happens, financial institutions use a series of data checks to validate whether a person or an institution is legitimate.

Application forms; document verification, background checks are all part of the due diligence process that makes up onboarding. It is the very beginning of a customer’s relationship with a financial institution. And it should set the tone for the rest of it.

Customer onboarding case study with Paid Ltd

Paid is a financial services company based in the north of England. It helps freelancers and small businesses get paid instantly, so they never have to worry about an invoice again.

Founded in 2017 by Tom Howsam, the business is growing and expanding its reach rapidly across the UK.
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Paid's clients are micro-businesses with less than 10 employees, right down to individual freelancers working from job to job to job.
The business case
Paid effectively provides funds into the supply chain for invoice payments in micro businesses. This means there is a high chance people could try and use the system for fraudulent purposes.

Having a robust KYC/AML policy and a system in place to manage compliance through onboarding was key to Paid's success and its growth plans.

Not wanting to build a compliance and risk management solution, Paid chose to buy. They wanted a KYC consultancy to give advice on best practice around AML compliance and a platform that would automate digital policies seamlessly and without friction to customers being onboarded.
The solution
The way PassFort helped Paid was by providing a full compliance platform for all its activities around onboarding clients and users.

PassFort was able to put Paid in touch with a KYC consultancy to advise on the correct AML compliance and risk policies for the firm's requirements.

Following that, Paid implemented the PassFort platform to make sure these defined policies would be adhered to during onboarding and for ongoing risk management.

The onboarding journeys were made as slick as possible using automation, so customers were unaware they were being onboarded. And working with PassFort, Paid was able to achieve efficiency from day one, without having to create its own risk management platform.

PassFort supported Paid from the beginning of its compliance and risk management journey. And the solution is now able to grow and scale in conjunction with Paid's own plans for future development.

Tom Howsam, Paid's Founder, says...

"Paid would recommend PassFort to other customers who are thinking about a compliance solution, and thinking about not just the raw data of compliance, but actually a risk management platform."

"PassFort is a business you can work with as you scale your own business. The relationship is built on trust from the very beginning. It really is a partner you can grow with and scale across a number of years."

Trusted by global institutions and startups alike

We are extremely proud of our growing list of customers. We take your business seriously and are excited about helping it grow.

PassFort is an intuitive and easy-to-use platform that allows me to prioritise and complete my tasks efficiently, collaborate with my team, and automatically create audit trails - all within one system. PassFort customer service is unmatched from what we've experienced thus far from KYC/AML tools, in terms of response time and issue management.
Rebecca Wismeg
KYC Analyst, Tide
Paid would recommend PassFort to other customers thinking about a compliance solution. And thinking about not just the raw data of compliance, but a risk management platform - someone who you can work with as you scale your business up.
Tom Howsam
Co-Founder, Paid LTD
PassFort allows us to do the job of a large compliance workforce with a reduced workforce; reducing overall costs and streamlining quotidian tasks.
Michael Moore
Global Head of Compliance, Wirex
We use PassFort to help clients onboard seamlessly onto our cryptocurrency exchange, EQUOS. PassFort organises our compliance workflow and improves visibility over applications. Not only is it an onboarding platform, it is also a unified database for retail and institutional clients.
Diginex
Capital Market Company
I am very impressed with PassFort, it helps BitPay set a great compliance standard for the crypto industry. PassFort has scaled to support our demand with their great platform and a world-class team! We are now able to provide our customers a great onboarding experience that is robust, automated and seamless.
Yamini Sagar
Senior Product Manager, BitPay
Currencycloud has worked with PassFort for a number of years. We have an excellent relationship and have always found the platform to be an efficient solution for customer onboarding.
Jan Philippaerts
Lead Developer, Currencycloud
PassFort has made our whole process much easier to follow, it automates key tasks, and it also acts as a central repository for customer documentation.
Metkel Asfaha
Head of Financial Crime & MLRO, Financial House
PassFort is always there for everything you need when it comes to risk, compliance and KYC checks. We consider the PassFort team part of our extended family - for me, they are the best in the market.
Sylvia Carrasco
Co-Founder and CEO, Goldex
PassFort is an intuitive and easy-to-use platform that allows me to prioritise and complete my tasks efficiently, collaborate with my team, and automatically create audit trails - all within one system. PassFort customer service is unmatched from what we've experienced thus far from KYC/AML tools, in terms of response time and issue management.
Rebecca Wismeg
KYC Analyst, Tide
Paid would recommend PassFort to other customers thinking about a compliance solution. And thinking about not just the raw data of compliance, but a risk management platform - someone who you can work with as you scale your business up.
Tom Howsam
Co-Founder, Paid LTD
PassFort allows us to do the job of a large compliance workforce with a reduced workforce; reducing overall costs and streamlining quotidian tasks.
Michael Moore
Global Head of Compliance, Wirex
We use PassFort to help clients onboard seamlessly onto our cryptocurrency exchange, EQUOS. PassFort organises our compliance workflow and improves visibility over applications. Not only is it an onboarding platform, it is also a unified database for retail and institutional clients.
Diginex
Capital Market Company
I am very impressed with PassFort, it helps BitPay set a great compliance standard for the crypto industry. PassFort has scaled to support our demand with their great platform and a world-class team! We are now able to provide our customers a great onboarding experience that is robust, automated and seamless.
Yamini Sagar
Senior Product Manager, BitPay
Currencycloud has worked with PassFort for a number of years. We have an excellent relationship and have always found the platform to be an efficient solution for customer onboarding.
Jan Philippaerts
Lead Developer, Currencycloud
PassFort has made our whole process much easier to follow, it automates key tasks, and it also acts as a central repository for customer documentation.
Metkel Asfaha
Head of Financial Crime & MLRO, Financial House
PassFort is always there for everything you need when it comes to risk, compliance and KYC checks. We consider the PassFort team part of our extended family - for me, they are the best in the market.
Sylvia Carrasco
Co-Founder and CEO, Goldex
PassFort is an intuitive and easy-to-use platform that allows me to prioritise and complete my tasks efficiently, collaborate with my team, and automatically create audit trails - all within one system. PassFort customer service is unmatched from what we've experienced thus far from KYC/AML tools, in terms of response time and issue management.
Rebecca Wismeg
KYC Analyst, Tide
Paid would recommend PassFort to other customers thinking about a compliance solution. And thinking about not just the raw data of compliance, but a risk management platform - someone who you can work with as you scale your business up.
Tom Howsam
Co-Founder, Paid LTD
PassFort allows us to do the job of a large compliance workforce with a reduced workforce; reducing overall costs and streamlining quotidian tasks.
Michael Moore
Global Head of Compliance, Wirex
We use PassFort to help clients onboard seamlessly onto our cryptocurrency exchange, EQUOS. PassFort organises our compliance workflow and improves visibility over applications. Not only is it an onboarding platform, it is also a unified database for retail and institutional clients.
Diginex
Capital Market Company
I am very impressed with PassFort, it helps BitPay set a great compliance standard for the crypto industry. PassFort has scaled to support our demand with their great platform and a world-class team! We are now able to provide our customers a great onboarding experience that is robust, automated and seamless.
Yamini Sagar
Senior Product Manager, BitPay
Currencycloud has worked with PassFort for a number of years. We have an excellent relationship and have always found the platform to be an efficient solution for customer onboarding.
Jan Philippaerts
Lead Developer, Currencycloud
PassFort has made our whole process much easier to follow, it automates key tasks, and it also acts as a central repository for customer documentation.
Metkel Asfaha
Head of Financial Crime & MLRO, Financial House
PassFort is always there for everything you need when it comes to risk, compliance and KYC checks. We consider the PassFort team part of our extended family - for me, they are the best in the market.
Sylvia Carrasco
Co-Founder and CEO, Goldex
PassFort is an intuitive and easy-to-use platform that allows me to prioritise and complete my tasks efficiently, collaborate with my team, and automatically create audit trails - all within one system. PassFort customer service is unmatched from what we've experienced thus far from KYC/AML tools, in terms of response time and issue management.
Rebecca Wismeg
KYC Analyst, Tide
Paid would recommend PassFort to other customers thinking about a compliance solution. And thinking about not just the raw data of compliance, but a risk management platform - someone who you can work with as you scale your business up.
Tom Howsam
Co-Founder, Paid LTD
PassFort allows us to do the job of a large compliance workforce with a reduced workforce; reducing overall costs and streamlining quotidian tasks.
Michael Moore
Global Head of Compliance, Wirex
We use PassFort to help clients onboard seamlessly onto our cryptocurrency exchange, EQUOS. PassFort organises our compliance workflow and improves visibility over applications. Not only is it an onboarding platform, it is also a unified database for retail and institutional clients.
Diginex
Capital Market Company
I am very impressed with PassFort, it helps BitPay set a great compliance standard for the crypto industry. PassFort has scaled to support our demand with their great platform and a world-class team! We are now able to provide our customers a great onboarding experience that is robust, automated and seamless.
Yamini Sagar
Senior Product Manager, BitPay
Currencycloud has worked with PassFort for a number of years. We have an excellent relationship and have always found the platform to be an efficient solution for customer onboarding.
Jan Philippaerts
Lead Developer, Currencycloud
PassFort has made our whole process much easier to follow, it automates key tasks, and it also acts as a central repository for customer documentation.
Metkel Asfaha
Head of Financial Crime & MLRO, Financial House
PassFort is always there for everything you need when it comes to risk, compliance and KYC checks. We consider the PassFort team part of our extended family - for me, they are the best in the market.
Sylvia Carrasco
Co-Founder and CEO, Goldex
PassFort is an intuitive and easy-to-use platform that allows me to prioritise and complete my tasks efficiently, collaborate with my team, and automatically create audit trails - all within one system. PassFort customer service is unmatched from what we've experienced thus far from KYC/AML tools, in terms of response time and issue management.
Rebecca Wismeg
KYC Analyst, Tide
Paid would recommend PassFort to other customers thinking about a compliance solution. And thinking about not just the raw data of compliance, but a risk management platform - someone who you can work with as you scale your business up.
Tom Howsam
Co-Founder, Paid LTD
PassFort allows us to do the job of a large compliance workforce with a reduced workforce; reducing overall costs and streamlining quotidian tasks.
Michael Moore
Global Head of Compliance, Wirex
We use PassFort to help clients onboard seamlessly onto our cryptocurrency exchange, EQUOS. PassFort organises our compliance workflow and improves visibility over applications. Not only is it an onboarding platform, it is also a unified database for retail and institutional clients.
Diginex
Capital Market Company
I am very impressed with PassFort, it helps BitPay set a great compliance standard for the crypto industry. PassFort has scaled to support our demand with their great platform and a world-class team! We are now able to provide our customers a great onboarding experience that is robust, automated and seamless.
Yamini Sagar
Senior Product Manager, BitPay
Currencycloud has worked with PassFort for a number of years. We have an excellent relationship and have always found the platform to be an efficient solution for customer onboarding.
Jan Philippaerts
Lead Developer, Currencycloud
PassFort has made our whole process much easier to follow, it automates key tasks, and it also acts as a central repository for customer documentation.
Metkel Asfaha
Head of Financial Crime & MLRO, Financial House
PassFort is always there for everything you need when it comes to risk, compliance and KYC checks. We consider the PassFort team part of our extended family - for me, they are the best in the market.
Sylvia Carrasco
Co-Founder and CEO, Goldex

A risk management love story

Hear from Paid Founder, Tom Howsam, on how the innovative invoice payments company is supported by PassFort to complete compliant onboarding of customers.

Working with Paid from the beginning on its risk management journey, PassFort has been part of the company's growth story.

Certifications and awards

PassFort is part of a RegTech ecosystem. We're excited to be part of the compliance community creating better customer onboarding journeys, managing risk, and fighting financial crime.

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