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Accelerating Underwriting to Speed-Up Merchant Onboarding

In a payments landscape where speed and precision make the difference, streamlining your underwriting process is no longer optional. This on demand webinar explores how ScanX, part of NMI’s Merchant Relationship Management suite, simplifies merchant onboarding by combining data sources, automating workflows, and improving decision consistency.

Our team of experts will walk through real examples and product insights to show how ScanX helps your business onboard merchants faster, support compliance, and increase your competitive advantage.

 

What You Will Learn

  • An introduction to ScanX:  Understand how ScanX helps your team work more efficiently and stay ahead of the competition
  • An interactive look at underwriting automation: See how ScanX improves everyday tasks through key features that simplify underwriting and reduce manual review
  • Product updates and roadmap highlights: Explore the latest features, including Scorecard Insights and Decision Report, along with a preview of what is coming soon

 

Transcript

So in today's webinar, what are we gonna cover? We're gonna cover how to accelerate underwriting to help you board your merchants faster.

Prior to jumping in, just a couple of housekeeping rules so that you're aware. For starters, this webinar will be recorded, and we will be sending it out to you early next week so you'll have access to it.

And in addition to the video, we will also include a clickable demo. In case you wanna get your hands dirty and see exactly how the solution works, you will have, opportunity to to go through that as well.

In addition, if you have any questions, feel free to drop them into the chat. We have left time at the end of the webinar to cover any questions that may come up. And in the event that we don't have any time, we will get back to you via email to answer any questions that you have.

Yes. So without further ado, we can just jump in.

First off, quick agenda to go over. We're gonna go over an introduction to Standex, highlight some of the values that our automated underwriting solution delivers, jump into a live demo.

Marco is then gonna talk through some of our latest product enhancements, and then finally open it up to some questions.

Alright. So question is, what is ScanX? You're gonna likely hear us refer to ScanX and or the scorecard multiple times in this demo.

Scanx is essentially the product name that we've given to our automated underwriting solution.

And what that essentially is designed to do is help you speed up your underwriting process, which in turn allows you to onboard your merchants faster without sacrificing the quality of the merchants that you're onboarding or open you up to any potential risk or fraud.

So just describe what ScanX is. So what does that what does that mean to you, and what value does that deliver?

So a couple of things that we wanted to point out with respect to value is, number one, data consolidation.

When you underwrite your merchants, you have to consider so much data. You have to go to multiple different places. It becomes overwhelming pretty quickly.

With ScanX, we have the we deliver the ability to pull in all of that information into one location.

And to help you visualize this, we put together the slide of everything that goes into underwriting a merchant. So we're starting off with some of the the the bigger checks, but then followed by all of the other subsequent checks that go into underwriting of a merchant. As you can see, it's a lot, and it gets overwhelming and, quite frankly, dizzying fairly quickly.

With ScanX, we pull in all of this information into one spot so that your underwriters don't have to go to multiple different places to be able to to get the information needed to onboard and underwrite that merchant.

What is more is that with the configuration capabilities, you're able to deliver a score based of all of these based on all of these different data points.

Alright. So carrying on, value proposition number two, auto decision capability.

So if your low risk mer merchants are passing all of the right checks, they will they will get auto approved and, as a result, onboarded faster.

And then what does that open up? Your underwriters, it gives them more time to focus on the more trickier, higher potentially higher risk merchants. So your low risk could potentially auto approve, and then your your high risk or more detailed involved merchants will have your underwriter's attention effectively.

So so with ScanX, like I said, you have the ability to auto decision and auto approve accounts.

Depending on your portfolio, that could be upwards of fifty percent. So fifty percent of your merchants potentially might be auto approved or more, and then and then as a result, onboarded faster.

And then finally, but not least, the last value proposition that we wanna highlight is consistency.

We like to say with ScanX or the scorecard, it's never having a bad day. It's never hungover.

As an underwriter manager, you set the thresholds of a scorecard so that it flags and it it spits out the results the same every single time. Therefore, eliminating any subjectivity and biases biases.

So Marco is gonna show you in a moment exactly how you can configure the scorecard and have that complete flexibility on deciding or setting up the scorecard to reflect exactly how you wanna underwrite that merchant so there's no second guessing the results or how the results are interpreted.

So without further ado, I'm gonna hand it over to Marco to actually go into the system and show you exactly what ScanX looks like.

Thanks, Jen.

You set it up well with those, different value props for what I'm gonna show today.

And just real quick, I know you cut out a little bit at the start of the auto decisioning point number two. So I don't think we missed much when you got into that second slide, and I'll kinda be showing more along the lines of how auto decision and capabilities come into play with ScanX. But the the idea is we're trying to direct your underwriter's attention to where it needs to go so that they're focused on the key things they need to evaluate and moving decisions that are a no brainer forward without their intervention so that you don't have to spend their time and energy and that resource on underwriting merchants that you're super confident in, that score really well overall.

So I'll kinda get into that with the demo of how we're evaluating that, how you can get to auto decisioning, some of the latest tools we're going to be offering to make that easier for partners to enable.

So if you're an existing partner or a Merchant Central partner formerly known as Iris CRM, you may be saying this isn't ScanX. This is Merchant Central, which you are correct. I'm gonna do a quick shameless plug because it is part of the NMI family. So this is our web forms functionality, and I've selected this as one medium of how I can get data into ScanX, but our overall ethos here at NMI is modularity, flexibility, and choice, which kinda goes through to those three value propositions that Jen laid out.

So whether you're using Merchant Central or you're using Salesforce or you wanna have your own other third party tools, whether it's a home baked CRM, a different third party CRM, however you're collecting data from merchants during the application process, we have ways to funnel that into ScanX so that you're not rekeying apps because to the automation point, consistency and consolidating that data, you would never wanna do that. That would be a huge waste of time. So we have ways to consolidate that and centralize it and then automatically trigger your scorecards so they can get running as soon as you have an application submitted, and then your underwriters can work from a queue as those scoring checks that you've configured for your scorecards are completed.

So as I go through this, I've already filled all of this out. Again, I'm not gonna bore you with the functionality of the web forms here, but just giving you an idea if I have kind of a full application with a business, their owners, getting their banking information, you know, showing them pricing and what they're agreeing to, can review and confirm all of this. And then I'm gonna go ahead and submit this application, and that'll create a lead in Merchant Central. But most importantly, it's gonna automatically trigger a scorecard because the way the API for ScanX works is it triggers based on a status in Merchant Central or based on you sending it data, when you're connecting to it via API.

So while that goes through and triggers the scorecard, I'm gonna jump over to how we consolidate the data across our systems and how this would work for, your organization regardless of the tools that you're using. So within Merchant Central, we have a nifty little integration with ScanX where you can see kinda high level information about this merchant that's been submitted. This is their lead record, and I can quickly access their data. But we're also posting back all of the data from running the scorecard to this lead record. So that's all configured in our postback API. So as I said before, integration with Merchant Central, Salesforce, or to any of your third party tools via API. You can send this all back to your own internal systems so you have all of the information you need to track this merchant throughout their life cycle from the moment they make contact with you to the time that they're boarded and processing, through you.

So before I jump to a specific scorecard, we are finally going to get into ScanX and show what the dash typically underwriting team is coming in to view and work through that queue that I mentioned as scorecards are being run. Mine isn't quite set up fully for an underwriter. You can see I already have approved scorecards in here. I am specifically looking at just my ScanX scorecards.

So ScanX, we also offer MonitorX, which is our recurring monitoring to do ongoing checks, and that can be set at a different cadence, which I'll go over in a little bit. But as an underwriter, I'm gonna come in here. I can customize all of these views so that it's tailored to my workflows or whichever role of the user you're having sign in. So you could come in and check the pending. You could check scorecards that are assigned to to me that I need to go and dive into and typically begin to underwrite and look at the checks. But this is fully customizable. You can move the columns around and put whatever data is most important to you front and center when you first log in to the system.

So then let's get into a scorecard, and this is the scorecard for the lead that we were looking at in Merchant Central there. So as I come into this as the underwriter, there's a few things I wanna point out.

To value prop number one, our data consolidation. So across the top, we have different pages configured to group the different scoring rules being run. So we integrate with numerous providers for things like credit, for banking, web crawl, business verification, TIN check for Social Security tax ID verification.

And you can configure these on a per scorecard basis in whatever way you would like that makes it as easy as possible for your team to review and get through their underwriting process. This is just our example to kinda show how that's done.

And then highlighting that all of the information here is kinda summarized and putting the key things that an underwriter may need to get to first right in their view.

So overall score and status, I have a summary of who this merchant is that applied, the overall score on the scorecard. And in a little bit, I'll get into with what specifically is contributing to that score and how you are in control of configuring that.

But then it's also highlighting what has actually flagged. So of the rules I've set up, I have different criteria that are gonna give me a review flag, which is the yellow flags that we're seeing here, a decline flag that says you'd have to have pretty good evidence to override this and approve the merchant, and then a straight up, prohibited decline flag where if that hits, it will auto decline the scorecard so that you're not wasting time underwriting a merchant you know you will never do business with and spending that valuable time of an underwriter who could be reviewing the maybes and the looking pretty good merchants that you could get to the point of being boarded.

So those hard prohibited, hard declines could be an MCC that you just don't do that risk level. You'll never do business with that MCC. You could filter it out just on that on that value, specific volumes. There's a whole whole bunch of configuration I'll get into.

But the idea is that auto decisioning and also just overall speeding up of the underwriting process and keeping your underwriters focused on what's more important to them so that they can get to it and get more accounts approved.

So I'm gonna jump to one of these pages. The first two are just the merchant information that came in and that summary page. But I'm gonna go to the business tab because that has a flag on it that's indicated.

And, also, on each page, you'll see that whatever flag is here at the top in the scoring summary, and each individual page is gonna have an overall score that contributes to or its own score that contributes to that overall score of seventy nine that we were seeing.

So on the business flag, this is specifically MCC volume risk. So for this MCC code, which is, like, consulting, the monthly sales volume is above what I've set as the review threshold. So in our MCC volume risk rule, you can configure on a per MCC which volume you want to basically allow or when you start to review. So I think I have this set at two hundred thousand. So if I had entered a hundred and fifty for this merchant, then this would not have flagged. But I've said, you know, this is a fairly high volume for this industry. I would like to check this out.

See a couple of questions coming in. So I will get to a couple of them because it looks like I'll answer them shortly, but I'll keep kinda monitoring. And if it's specific to what I'm going overall, I'll address those as I go.

So that's, you know, indicating all of the flags so that as an underwriter, I can make kind of the quick decisions or start evaluating what needs my attention most off the get go because these other rules are fine based on the criteria that as a company, as a risk organization, you have configured and feel confident in. And we'll talk a little bit later about the tools that help ensure that confidence.

So then over on the right here, I have my actions menu where there's a few items that I can I can deal with? So I could assign an underwriter. We already have one assigned. I could make my underwriting decision.

So this doesn't seem like it's ready because there's some flags. So I would likely pend this because I maybe wanna get bank statements from this merchant, in order to validate that this volume's legit, that they can handle it, that they're not, you know, a major risk of of running away with any money, and that they're being truthful about their business. So I could select pending. I could select the pen reason and say that, you know, there's missing documents.

This list is customizable to whatever reason codes that you have.

And then before I move on to a few other actions, there was a question about auto approvals, I believe. So if you see the score thresholds down here, green, obviously, a good thing, and I have a good score based on my thresholds for this scorecard. So I'm technically above the auto approval threshold for the overall score. However, because I have flags triggering, it won't auto approve.

So if it comes through clean with no flags and the score is good, it it can auto approve. So if you're brand new just starting out, you're still playing with your risk models with your scorecards in ScanX, we would kind of encourage you to have tighter restrictions. So instead of a pretty liberal seventy five, I would maybe move that up to ninety to start and, you know, either expand that or work with my scorecard configuration to make sure that only what I want auto approving is is hitting within that solid green auto approve range, fifty to seventy five. Again, these scores are configurable, which I'll show you in a second.

That's gonna be recommended approved, but maybe with some Nuance, fifty to twenty, recommended decline. You know, if there's good information you can get back, then maybe you approve. And then below a twenty, we're just gonna auto decline and, like I said, not waste our underwriter's time.

Closing out of that.

A couple of just little pieces of functionality here for the underwriter. So I showed you that I was pending this app and asking for some missing documents. I could leave a comment to note that I did that, or if I'm resolving the flag once I get those back, I can say received statements and all is good.

I would probably be more specific than that if I was a good underwriter, but I'm gonna leave it at that for now. And then decision report, which is a new functionality, which we'll go over later.

You can include those comments actually. So there's that added context and all of this information from the scorecard, including the underwriter's notes, are included in there.

I could also, sorry, could also send out an email directly from the scorecard to either the merchant or the sales rep asking for, more information and just send it directly from here, get that back, and then upload the documents.

Yeah. And just to highlight what Marco said with regards to the correspondence, if when when a reply is received, all of that information is stored within the scorecard itself, and an underwriter would get a notification when, the response or sorry. When the email was responded to.

So I'm gonna pause here, allow any questions about the scorecard viewer here that I've just gone over come in, and also addressed a couple of questions here, that I saw the team add.

So I'll get more into auto approvals a little bit, but I talked about that threshold and how that's configured. And if we hit that higher tier of you know, in the dark green score, it will auto approve if there's no flags.

And then the automation with microsites or web forms, with specific pricing. So the pricing wouldn't necessarily affect my scorecard.

At least the way I have it configured, I don't have any custom fields about how I'm pricing that merchant coming in. You could set up custom fields on the scorecard if you wanted to collect that.

I'm not sure what your use case would be there to evaluate it.

If there's if you're trying to indicate, like, the risk model, the way we would handle it from the Merchant Central integration is you would have different statuses that trigger different scorecards.

So if I have that web form example, I could have my low risk. If that was my low risk pricing and on my low risk web form, I'm gonna put that into a specific status in Merchant Central that triggers my low risk scorecard, which may have more leeway, on, you know, what my auto approvals are, or I know I'm gonna not hit certain flags because it's low risk. I know it's gonna come in with an MCC that passes and the volume's good, versus I might have a high risk pricing web form that correlates to a high risk scorecard that I'm gonna trigger based on a specific lead status. So that can all be configured based on, you know, how many scorecards you're working with, how many different kind of pricing or business models or, like, campaigns you're working with, and we can kinda tailor that.

And then, yes, this is all tied into IRS. It will all, or Merchant Central, excuse me, will post back to the lead once I decision it.

So without further ado, let's go into our scorecard administration. So you can have as many scorecards, as many risk models as you need to. As mentioned earlier, we have ScanX, which is the core product. We also have MonitorX, which works on the same premise.

It it's still a scorecard, but it's specifically for recurring ongoing monitoring that you may be doing after the fact. So as you can see here, we have Adverse Media. You could do OFAC. You could rerun credit periodically.

Couple couple of things like that where you may wanna check up and make sure the merchant you boarded is still the merchant you expected them to be and haven't completely changed their risk profile.

But I'm gonna go ahead and go into our ScanX scorecard that we were looking at, on the viewer on the front end, what the underwriter would be seeing and look at how we would configure this.

So going back to kind of the first point about data consolidation, the idea of ScanX is, as Jen said, you have all these checks that you have to run. They're they're different services. So we've built integrations to numerous services which offer different rules, and we can configure those here to aggregate the results and then make recommendations, your recommendations that you're tailoring, based off of what all of those are returning for a holistic, picture, because getting it all into one place and then having this model in place allows you to be consistent to the third point, as you go through. So this looks much like the viewer. This is where I can add fields. If there's any custom fields, we offer just out of the box kind of the for what's necessary based on the rules that we integrate with. So DBA legal, MCC, address information from the merchant, you know, all that stuff that'll run these different checks.

And here's where you can configure the pages and make sure it looks nice, once you're adding them. Because if we go into scoring rules and weights, this is where we're gonna actually manage our rules and configure that really important assessment of how we're scoring it.

So page three business, that was our first page with rules being run on it. So these are each individual rules mainly consisting of our internally built ScanX services rules. So different MCC checks, some of our own negative we have negative files, so you can add records to this if you have declined them before for various reasons. And if they try to apply again, you just wanna auto reject it so you're not wasting your time, looping back to the let's focus underwriters on only what's necessary.

So then if I wanna add rules, we have hundreds to choose from, over, I think, ten or twelve total integrations, maybe even more at this point. So I can search for what rules I wanna add.

Experian, I have different credit. We have a newer v two integration with them. I think most of our partners, are are still using this v one, but different products that are offered by them, and these different rules that break down the data that we can receive back from the integrations.

So the choice is really in your hands of how you want to underwrite your merchants, and then we're trying to provide a template or a skeleton that you can plug in your tools, bring in those tools, and then create your model around it so that it's working based on how you decide to do your underwriting business and then helping you, make decisions with what data you're bringing in.

So going back to the individual rules and configuring these, we have our overall score like I showed you on that that scorecard, which we had, like, a seventy nine. So on a page by page basis, we can weight each page. So business is twenty percent of my overall score, and then specific rules can have their own score weight as well. So in this, my MCC code check is contributing pretty heavily to the overall score of this page where if it doesn't, you know, hit one of the MCCs I wanna do business with, it's gonna affect my score overall.

So you're in control of what matters most to you on a given scorecard. And, again, it doesn't have to be the same for everything you underwrite. If you have that high risk and low risk, you could change what matters more in a given case. Or depending on who your sponsor bank is, you could have different scorecards for each of the sponsor banks you're working with so that you can wait and configure this to what they kind of care more about to make sure the deals you're sending, are working for for all of you.

So once I have my pages weighted, my individual rules weighted, we get to the overall score. So over here on the right, I've got my pages weighted for a total of one hundred. We're putting a huge emphasis on credit. So if they have bad credit, it's probably is gonna get recommended decline.

But then here are the the score thresholds. So my more liberal seventy five auto approval, you could, you know, up this to ninety, for what your auto approval threshold is. So if you're starting out, you're you're still making sure that what you've set in this page is correct and you're confident in what you're approving, then either you could leave it or we start to dial it down and say, okay. We're feeling good. We think things that are hitting in this range should be auto approved.

Eighty five feels good for the foreseeable future. You know, we wanna approve a little bit more. We're gonna, you know, bring this down. Auto decline, you know, the things that are hitting a thirty, like, really are still bad. Like, let's increase that, and auto decline more because, you know, maybe our we have a ton of referral partners. They're not really experts in payments and underwriting merchants. They're sending us any person they talk to on the streets.

Let's auto decline some more. So that is all on on you to decide what you're comfortable with, and you can configure this to to your organization, and how you wanna underwrite.

Couple of questions that came in, I think, about credit. We have Experian and TransUnion, credit. I have to double check on Equifax because I think we do have it's not a direct integration, but I do believe we can pull it in if needed.

One thing I wanted to highlight here with regards to this view, this is limited to a ScanX admin only. So there's certain position or certain permissions that need to be allocated in order to become to be able to enter this and change any of the weights or set any of the auto approval thresholds.

Yeah. Great note, Jen. Your your brand new underwriter that you just hired, with zero payments experience is not coming in here and changing your auto approval thresholds, if if we permission it correctly for you. So on the note of permissions, we have what we call access control groups. We have different security levels of underwriters, company admins.

During our implementation process with new partners, we'll configure that for you to make sure only the proper users have access to, you know, the scoring rule kinda configuration mainly, as well as different scorecards that you wanna view if you're segmenting your business or have different referral partners and hierarchy.

We can work with you to find, you know, what that structure is for your permissions and for your team.

One la I guess, two last things on the configuration page that I wanna highlight. I go into the more section and set my monitoring defaults. Just a quick kind of note on our MonitorX solution. You can configure monitoring scorecards to run on a recurring basis by default.

So if I wanna run OFAC every ninety days, I can set that on this scorecard. So as an underwriter, when I'm finishing and approving a scorecard, it will automatically have this scorecard configured to start running on a ninety day cadence after approval. And then, basically, the OFAC scorecard that I've selected here also defaults to having OFAC run on a ninety day basis to daisy chainies. They continue running and link together to and you can go in and view the history of, okay.

I I had this first scorecard that ran, and then subsequently, I've had, you know, over the course of the year, four OFAC runs. Those OFAC runs are auto approving unless there's a hit. It'll raise a flag. If there is a hit, your underwriters can then review that, and then your team can handle what that process looks like if there's an OFAC hit for an existing merchant and whether, you know, that's within your risk model or if you're gonna figure out how to the opposite of onboard onboard them, and figure out what your how to remediate that situation.

But you're in control of how you wanna monitor, and how often.

And then finally, and this will kind of carry us into some of the new stuff that I'm excited to share with you, the reporting tab in the scorecard configuration is for our ScanX decision report. So you can enable it on a scorecard by scorecard basis. And what this is is a consolidated PDF highlighting the outputs of the scorecard with the idea being that you can share this with your sponsor bank for approved merchants. You can download these en masse from your system. After the fact, if you have auditors coming that need to see a sample of the deals you're underwriting and you either don't wanna give them direct access to ScanX or you want them to be able to kind of view this in a more tangible way where it's a clear report of how you underwrote the merchant. And that's where I mentioned those those underwriter comments. You can include them, in there to provide additional context and consolidate all of this data into one place.

Can have it automatically generate. That just makes it easier to access. It will also post back to Merchant Central automatically if you have this configured. You can select your attachment tabs.

You can also generate a mid to inject into the report if you're using, TSYS wholesale, boarding for Turbo app in Merchant Central. So it'll stamp the mid, and I'll show you in a sec, stamp it in the actual report.

So fully customizable. You can reorder this, can add or remove sections. We included KYC site scan.

After some feedback, some for some partners, this KYC site scan gets its own PDF output of the web crawl. So, originally, it was two separate PDFs, but we heard that people wanted the option to consolidate that, and we just append it to the end. So you can't reorder that one. It's super long. So we thought it was best to just basically staple it to the end.

So, let me show you what the decision report actually looks like.

Quick summary information at the top about who the merchant was, when it was underwritten final decision.

Get into here. I have my merchant information. So kind of that first page, on the scorecard that we saw. Here's the mid that I mentioned.

So that was auto generated from Merchant Central and then added to this. If you're using that integration with Merchant Central when you're doing the the TSYS, turbo app boarding, it will carry the mid through, obviously, because you need to use that mid to then board it. Otherwise, you'd have a discrepancy in mid. So because we're now one company, we worked with one of the Merchant Central teams to use that same endpoint that they're using for Turbo app to get this early, put it in the report, and then it'll carry through through your boarding process.

And that's the mid that the merchant will have.

As I scroll down, more information.

We've got Experian as the credit integration on this report, summarizing that information that was found. We'll have a section for each owner that's relevant, showing the bankruptcies, judgments, and inquiries as well. So that that was owner. This is control person.

Let's see. Couple of credits. Okay. Getting the GAIAAC and our banking information. I'm not gonna, you know, go over every single one here, but just kinda giving the idea of we have the different rule outputs, the integrations that we ran, showing what the responses were to provide, you know, again, a bank and auditor information on why we made a decision, essentially.

So I tin check there. That'll run for each owner control person. Matches in here as well.

It'll you know, this one gets pretty long if there's any matches at all or if you have multiple entities that you're you're running.

And then there's the KYC site scan report, which is gonna be the second half of this report and very long. So that's the full web crawl report.

And then my next thing, which I'm excited to share with you all, is our ScanX scorecard insights. So this should be available to all existing partners by the end of the day tomorrow. We've had, I think, about six or seven partners in beta for the past couple of months. And when we talk about auto decisioning and the question about how do I turn on auto approvals, we've always been cautious or conservative about, like, let's jump into auto approvals. You know, we're not gonna have that seventy as the auto approval threshold for a brand new client that hasn't, you know, sent any scorecards through because we wanna make sure that those models are spot on, that you're approving confidently and accurately.

But we've always had to kinda do manual reporting around what's happening on your scorecards to help you start to make those tweaks and adjustments to get to making auto approvals. And the idea of scorecard insights is you now have access to that information.

We'll still work with you on it, but you can track what's flagging and what's happening on your scorecards to be better informed and make adjustments as needed. So there's two components to the scorecard insights. There's the summary page and then the details page. So this is summary high level showing some information on how many scorecards are flagging, how many have, you know, a given amount of flags here across the top. And then if I expand this, each kinda color code is an integration. Under it is each rule from that integration that's running on my scorecards.

So this is giving me a quick look at okay. I've had a fifty percent increase in the average monthly volume flag triggering.

And this isn't necessarily good nor bad. There's obviously a lot of factors that go into what's lagging. Maybe you're just doing a lot more volume, and that's great. And if you only had three total flags trigger, like, that's probably a great thing if you have hundreds of new scorecards coming in.

But it could also indicate, like, hey. Like, maybe there's some adjustments we need to make. So then we jump into the details tab, and this is where things get, you know, juicy. We have a lot of info here.

And this is gonna show you every single scorecard that has run over a given period. So I have thirty days here. Let me do ninety. And I just wanna look at my ScanX and my my, like, true ScanX scorecards.

I don't wanna look at my monitoring scorecards here. So I don't have too much sample data. But looking at these, you know, they're all approved, which is a good thing. But if if they had flags, it means they did not auto approve.

So why are they flagging? And let me let's see. We'll open scanning services.

Site scan. So prohibited phrase count is coming in for this.

So not a great example. I'll give a better example that I don't think I have showing up here. So if credit is flagging for this and I have the same kind of MCCs here. If credit is always flagging because my threshold is, say, six hundred or six fifty, but that's the only thing that's flagging.

And they have the same MCC. They're always getting approved.

Does it make sense for me to continue to flag at six hundred or six fifty on that scorecard model? What if I lowered that to five seventy five, five fifty? How would that change kinda what my outlook looks like? I would increase my auto approvals if that's the only flag that's triggering, and then you would be relying on anything that you're truly concerned about flagging along the way.

Another example could be volume. If you're always approving a certain volume for an MCC, then, you know, maybe you adjust the volume.

And it can also give you insight into your workflows potentially outside of ScanX. Right? So I gave you the web forms example of getting data into ScanX.

If I continue to have bank verification information missing or TIN mismatch, maybe I need to put data validation on my form to make sure that they're doing a nine digit social when they submit it or that, you know, adding a note, a tool tip to have them make sure that their information is correct and kind of being like, if it's not right you know, double check this. If it's not right, we're gonna have to go back with more information. It's gonna slow down the process because we wanna speed up the process. Merchants wanna be able to, you know, get payments as quick as possible. You wanna give them payments and have them start processing as fast as possible. So that's that's the idea behind scorecard insights is getting the information you need to kinda make those adjustments to still accurately underwrite merchants, but be able to underwrite them faster.

I'm gonna jump back over to the slideshow quick.

So decision report, I showed you what that looked like. This has been out since the end of July, and I think out of all of the scorecards receiving a decision of, like, approved or a decline, I think forty one percent, are having reports generated. So partners are using it, which I I love to see, and we've had really good feedback from those partners that are using it. So we're gonna be adding some additional outputs. I don't have timelines yet on when we'll be adding some of these additional integrations.

Hopefully, a couple maybe this quarter and then into q one add additional.

And then one thing that's coming, I believe, in a couple weeks will be DBA is being added to the match output.

So one of our partners wanted that as well because it's provided by match, and we only had legal name in there before. So we're gonna continue to invest in this product and and listen to your feedback and make adjustments.

Scorecard insights. Can't wait to hear more partner feedback on this, as we roll it out to everyone. We have a lot of planned updates for this from some of the, beta partners we've been working with over the past couple of months. So, currently, we only have the meta value filters, so scorecard type, date range, control groups, that sort of thing. What we're going to be doing is allowing a couple of custom fields essentially from your scorecard to serve as filters. So that looks different for each partner and kinda why we have to limit it.

But an example is if you have a referral source or a sub ISO submitting to deals to you and you wanna filter just by the deals they're sending to you, that will potentially be possible using these additional filters.

Revisiting the auto approval tab and how that's calculated because some partners have different views on on how it should be. Additional integration outputs for some of our integrations that select partners are using. And then the big thing that we're working towards is how can we add AI to, to this module, as corny as it sounds. Obviously, AI is very buzzwordy.

So being straightforward with you, for us, what what that looks like is starting with just advancing how you can query the data. So, basically, it will write API queries for you when you type natural language. You can say, how many times did this flag or what are the three flags that are occurring most commonly together on scorecards? And just being able to kinda play with the data and ask it questions to to dive into it more.

And then eventually, during twenty twenty five, getting towards, kinda true insights and not recommendations, but guidance based on what you're looking for. So things like if I change this rule, you know, take the credit example. If I reduce my credit score flag from six hundred to five fifty, how many more auto approvals would I have seen and kind of modeling out what changes would would be impacted, once once you do that.

So very excited about that. Stay tuned. No more updates.

And, again, I'm looking forward to feedback.

I'm not gonna go through everything here. I just wanted to show, especially for our existing partners, some of the things we've worked on since, I believe, the start of q three and the and the q four that are out. Couple of the bold items here towards the bottom of each section are currently in progress and will be done by the end of the quarter.

And for our road map, some of the big things that I wanted to mention. This quarter, we've been working on real time underwriting enhancements. So we are updating our connection to KYC site scan, which will allow us to return data as KYC site scan is running its checks rather than waiting until the very end and when that PDF is generated, because because the PDF portion takes the longest. So we're able to return some of this the rule results, along the way.

So your underwriters could potentially start underwriting before KYC is done running. And then by the time they've reviewed those other checks, the idea is all of KYC is done running. The PDF is added, and then they can finish their underwriting process kind of catching it in stride rather than waiting until it's fully done. And this will also come with some UI UX updates to make it clear about which rules are running, which rules have finished running, so some improvements to kind of the integration menu.

We're also gonna be adding a new, endpoint to our API so you can send updated data. So if you've already sent in a scorecard, it's been underwritten, and maybe it's pended, you have some missing information, you're using third party tools to collect new information and you wanna pass it through, you'll be able to use this endpoint to pass it through and rerun the rules that use that data so that you can get an updated scorecard without manually having an underwriter go in, type in the new data, and rerun this, scoring rules manually.

And then nothing is final yet, and we don't have a vendor, of choice yet. But we're looking at doing an open banking integration where a merchant who's applying could, you know, log in, essentially validate or, give you grant you access to their banking information so you don't need to request their statements. They would grant you access, and then that would come back into the scorecard.

So that's, I think, the least planned out of the road map items we have yet, but something we're looking at for q one, q two, that could make that underwriting process easier.

And my last point, and I'll find the shut up, is, we're always looking for your feedback. So the things on the left side of the screen here as well as decision report and insights, that is due to our partners. I love my meetings with partners, whenever they occur because I always learn something. I hear about what problems are, what challenges are, and how we can potentially solve them. So I'm always looking for what we can add to this road map, what would make the lives of you and your teams better.

So there will be a survey going out after the webinar. So there's, like, a suggestions and feedback section that can include what would make this product better whether or not you use it. If you're like, you guys don't have this integration, this is why I haven't signed with you. Let me know. Like, if there's things we're missing, I would I wanna know that so we can make it better for everyone. So I I think we'll open up to questions.

So thanks for listening to me talk for, like, forty minutes.

Thank you so much, Marco, for taking us through all of that. I'm sure it's a lot of information for everyone to digest.

As mentioned, we will be sending out a video early next week.

Included in that email is a clickable demo so you can actually experience what it's like as an underwriter to go through a scorecard and what all of the information and the data means.

Super excited about our latest product enhancements. The decision report, game changer. To be able to send that to your sponsor bank and not have to cobble all the information together as well as the as well as the insights report to help you make those decisions to move you towards auto approval.

The whole goal is speed and to help you onboard your merchants faster. For those of you that are already a Merchant Central customer, we have TSYS auto boarding. So just if you want to imagine or envision it for a second, in Merchant Central, if as soon as a deal or a new merchant is approved, it goes to underwriting. It's auto approved with TSYS auto boarding. It automatically boards the TSYS with NMI Gateway, Turbo app within Merchant Central, a gateway account is open. All of those steps would happen in sequence almost simultaneously, and your merchants can begin processing within minutes. So that's that's the vision that we're working towards that we wanna be able to offer our partners.

So, hopefully, you found this very in informational.

And, yeah, to to Marco's point, let's, let's open it up. So I know Marco has been answering some questions as they came in.

I do have a couple more.

So Yeah.

You want me to start answering the ones you added to the list, Jen?

Yes. Yes, please.

Cool. So is there similar functionality on Fiserv as it relates to the mid being injected into the decision report? Currently, there is not. So that's directly related to the work Merchant Central has done over the last, kinda, year for what started as one click turbo app boarding where you kinda bypass the turbo app steps.

And then now it's actually auto boarding where if it hits a specific status, it'll auto board it. So we started with TSYS, because that's just, like, the largest number of Turbo app submissions we have. But I believe the team is exploring potentially doing it in queue or not. I don't wanna give a quarter, but in in the next year.

So that is on our radar, but not currently available.

We typically send merchant applications to ISOs, and they send them to the underwriters, the banks that they work with. Is this something we would submit to ScanX instead?

I can take that one. It it all depends on whether you take on the risk as an ISO. So if you don't take on risk or you're not responsible, then it would typically it would follow your existing flow. However, if you're planning in the future to switch to a wholesale or FSP and therefore take on risk, then, you could utilize ScanX as the underwriting solution.

Yeah. And that heavily depends on the ISO or the bank that you're working with. I know some of the banks that use our platform will have their ISOs or sub ISOs kinda submit deals to their ScanX instance. So really depends on that relationship there, like Jen said, and what your risk bearing profile looks like.

Is there an API current or on the road map that would allow the flow of the analytics piece of agreement expressed to come through?

Not directly. So looking at scorecard insights, I'm kinda guessing is where that question came in.

That has not been part of it. It's all UI based within ScanX, with the postback API.

So that's that's what sends the data back, like, to Merchant Central, to Salesforce, or to your own systems. Once a scorecard runs, you can kinda pull all that data.

You could ingest that and then try to process it, but it wouldn't be kind of structured in the way that you're seeing in scorecard insights for our reporting that's built in.

So definitely open to feedback on that one because I know some of the API for, like, reporting stuff has been asked about before.

Can the actual credit and other reports be pulled from ScanX and saved separately as a PDF? So as it relates to decision report, you can't just parse out an individual piece of that. However, certain integrations return their own reports. So I believe both credit, integrations, TransUnion and Experian have their own output that can be downloaded, and it's in the attachment section on the scorecard. And then KYC site scan, as you saw at the end of decision report, generates its own PDF that always populates as its own PDF attachment.

And then all PDF or all attachments, I should say, within ScanX can then be posted back to whichever integration you're using to post back to.

Is there a sandbox account we can use? There is not currently a sandbox that we have for partners to use. Jen mentioned that interactive demo that's going out, so that shows, just a little bit about how navigating around, ScanX looks. We have one also now, I believe, for kind of the interaction between Merchant Central and ScanX, and then we also have one for Scorecard Insights.

So if you're receiving our emails when the announcement about Scorecard Insights goes out, next Tuesday, I believe, and maybe throughout the week, that will be included in some of the the communications there.

Is this going to be part of virus CRM? So, yes. From some of the stuff I showed you where it's integrated, where you can see kind of the summary information on a tab within, Merchant Central lead record. You trigger it using, the status triggers, and it'll run the scorecard.

I think over time as we work towards unifying the NMI platforms into one product and one experience, which is, you know, a big goal. We have several companies that have come together in the last few years. We'll start to leverage or build more of it into one place, but for now, they do still get their own platforms. We're gonna work on making it easier to access each of them, if you use multiple of our products.

And and just one thing to point out as well.

It is a subscription service. So if you are interested in ScanX, there is a it could be a supplementary cost involved.

So if you do want to explore that more, we'll definitely put you in touch with the right individuals.

I think we're on number ten, Jen. I think maybe this is a split between us.

It will pull all the final reports into a PDF. So you can concatenate all of the PDFs, but you can mass download all of those decision reports.

So, if you'll bear with me. Let me go to workspace.

I have this decision report column. So I could one off download a decision report, or I could select these, and I can download them up to a hundred at a time, and it'll put those into a zip file for you if, say, you had an auditor or you had some executive that wanted to see last month's decision reports or something like that. You could you could generate them and download that way.

And then, yeah, if you're if you're interested in learning more and pricing, we'll we'll reach out after this webinar and connect you with the the right individuals.

I think we have oof. We're we're running up against time. Do we wanna cover the last question?

Yeah. Yeah. We have a couple minutes.

You have an onboarding API for merchant onboarding. So merchant onboarding is handled by our merchant Central product, formerly Iris CRM. So, I think I mentioned TurboApp a couple of times. So TurboApp is the functionality within Merchant Central that has integrations to six or seven processors, maybe nine at this point.

And the you know, for Fiserv, it's all of the Fiserv platforms. For TSYS, it's retail and wholesale.

So, typically, onboarding is handled via Merchant Central if you're looking for kind of a full solution of taking in the merchant, signing them up, running the underwriting checks, and then we would send that data back to Merchant Central for the lead record. And we can one click board. We can auto board for TSYS wholesale, or, you know, you could choose where else to board it to if it's, Fiserv or I think that's our two main wholesale platforms that we integrate to.

Yeah. I think that that's a good segue into this final slide. So like Marco mentioned, here at NMI, we do offer modularity, flexibility, and choice with regards to the tools that you use, whether it's the automated underwriting solution that we demonstrated today, also known as ScanX.

We also offer Merchant Central, aka, formerly, Iris. It is a CRM, but it's much more than a CRM.

It does have all of those processor connections that Marco highlighted in addition to processor reporting capabilities or access. There's there's also a residuals component. There's tons of modules that are available within the Merchant Central suite of offerings, including ScanX, which is now integrated into Merchant Central as well as highlighted.

And then, we have the gateway capability, so you can open up a gateway account directly within Merchant Central as part of that onboarding sequence that I had described early. Or if you just want a gateway in itself, that option is available. And finally, we do have NMI payments, which is our embedded payment solution.

So if you're interested in learning more, I encourage you to reach out, to some of those some of you that already expressed interest will reach out to you directly after this webinar.

Thank you so much for this engaged webinar and conversation. We really appreciate your time. We really appreciate your questions. We weren't anticipating using the whole hour, but here we are.

Thank you so much to Marco for taking us through the solution and the demo. Great job. And to everybody behind the scenes that helped make this happen, appreciate you as partners and appreciate, your business. So thank you so much.

Don't eat too much candy today or maybe eat some candy. I know I will be. Happy Halloween, and enjoy the rest of your day.

Thanks, all.

Thanks, all.