Introduction: CredAble and Chekk Join Forces to Transform Global Financial Onboarding
In a groundbreaking move to make onboarding easier and faster for financial institutions, CredAble, a leading global working capital technology platform, has partnered with Chekk, a cutting-edge provider of digital identity and KYC (Know Your Customer) solutions. This partnership is about to revolutionize how banks and financial institutions operate, especially in regions like APAC, MENA, and Europe, where manual verifications and complicated data collection processes have often held back efficiency.
This new alliance is set to simplify and speed up the process of verifying clients, vendors, and dealers, ensuring that businesses can scale faster while reducing compliance risks. Here’s how this partnership is poised to change the game for the financial world!
What Does This Partnership Mean for Financial Institutions?
For years, financial institutions have struggled with long and cumbersome processes for onboarding clients and managing compliance requirements. Whether it’s collecting data from clients, verifying identities, or managing complex risk assessments, the process often takes days or even weeks.
CredAble and Chekk have come together to solve these problems by offering a more efficient and secure way to handle these critical tasks. By combining CredAble’s working capital technology with Chekk’s digital identity solutions, they are setting the stage for faster, more streamlined workflows that help financial institutions reduce costs, increase efficiency, and mitigate risks—all while meeting compliance standards.
How Will the Partnership Work? A Sneak Peek at the Technology Behind It
The partnership leverages a seamless integration of two cutting-edge technologies:
- CredAble’s Working Capital Technology: CredAble has been a game-changer in helping businesses manage their working capital, offering solutions for small businesses, corporations, and financial institutions. With its innovative platform, CredAble has facilitated over $8 billion in working capital each year for its users, including more than 175 corporate clients and 100 financial institutions globally.
- Chekk’s KYC and Digital Identity Solutions: Chekk offers a next-generation approach to Know Your Customer (KYC) and Know Your Business (KYB) processes, helping financial institutions verify identities quickly and accurately. Their solutions include real-time corporate data checks, risk assessments, and video-based identity verification. With access to data from over 220 countries, Chekk can process these checks in under 20 seconds, significantly cutting down onboarding times and improving the user experience.
What Makes This Partnership Stand Out?
In an age where time is money, the speed of onboarding is critical to business growth. Traditional onboarding processes can take weeks to complete, slowing down financial institutions’ ability to onboard clients, vendors, and partners quickly. CredAble and Chekk are addressing this issue head-on with their integrated solution.
- Faster Onboarding: Thanks to Chekk’s API and SDK integration, the verification process for new clients and vendors can now be done in under 20 seconds. Imagine being able to complete a task that once took days in just a fraction of the time!
- Lower Costs: By automating data collection, KYC, and risk assessments, banks and other financial institutions can save on the operational costs associated with manual compliance processes. No more dealing with cumbersome paper-based forms or labor-intensive checks.
- Global Reach: This partnership is geared toward global markets, with solutions tailored for regions like APAC, MENA, and Europe. These regions have often faced challenges in onboarding due to manual verification systems. With CredAble and Chekk’s partnership, these challenges are now a thing of the past.
Leadership Insights: Why This Partnership Matters
Satyam Agrawal, Managing Director and Global Head of BaaS, SME, and Analytics at CredAble, highlighted the significance of this partnership by stating, “This is a key moment in our global expansion strategy. Together with Chekk, we are well-positioned to revolutionize the way financial institutions handle onboarding, compliance, and working capital financing.”
He also added, “Our goal is to offer automated onboarding and advanced underwriting capabilities that are fully customized for global markets, providing faster and more efficient solutions to banks and other financial institutions.”
Pascal Nizri, Co-founder and CEO of Chekk, also shared his excitement, emphasizing how this partnership will enhance the onboarding experience for banks and fintechs worldwide. “By connecting our Digital Identity and KYC solutions with CredAble’s working capital suite, we’re not just simplifying onboarding—we’re transforming the way banks make credit decisions and engage with their clients.”
How CredAble and Chekk Are Changing the Financial Landscape
For financial institutions that have historically dealt with slow and inefficient onboarding systems, this partnership is a breath of fresh air. By automating crucial tasks like KYC verification, AML checks, and corporate data sourcing, CredAble and Chekk are helping institutions save time, reduce human error, and minimize fraud risk.
The integration of both companies’ technologies will not only streamline compliance but also improve decision-making by providing banks with more accurate, real-time data. This will allow financial institutions to make faster, more informed decisions about lending, financing, and partnerships.
The real win here is for businesses—large and small—that will benefit from faster access to capital and more efficient onboarding processes. Whether it’s securing a loan, engaging in cross-border trade, or expanding into new markets, businesses will now have an easier time connecting with financial institutions.
CredAble’s Impressive Growth: A Strong Foundation for Expansion
Founded in 2017 by Nirav Choksi and Ram Kewalramani, CredAble is India’s largest working capital technology platform, supporting businesses across a variety of sectors. The company is already facilitating more than $8 billion in annual working capital, helping businesses from large corporations to small and medium enterprises (SMEs).
With over 175 corporate customers and more than 350,000 small business borrowers, CredAble has established itself as a key player in India’s financial landscape. Its cutting-edge platform is used by more than 100 global financial institutions, making it a trusted partner in the financial ecosystem.
Now, with this partnership with Chekk, CredAble is poised to further expand globally, tapping into new regions and bringing innovative solutions to financial institutions around the world.
What’s Next for CredAble and Chekk?
So, what’s on the horizon for CredAble and Chekk? Both companies are clearly committed to expanding their global reach and improving the onboarding experience for banks and other financial institutions. With their integrated platform, they are empowering businesses to grow faster, while also mitigating risks and ensuring compliance.
As financial institutions continue to evolve in the face of digital transformation, CredAble and Chekk’s partnership offers a glimpse into the future of automated onboarding and working capital management. The time for manual, slow verification processes is over—CredAble and Chekk are leading the way toward a faster, more efficient financial world.
Conclusion: Why This Partnership Is a Game-Changer
CredAble and Chekk’s new partnership is more than just a strategic move—it’s a game-changer for the global financial industry. By combining their strengths in working capital management and digital identity verification, the two companies are making it easier for banks, fintechs, and businesses to grow and thrive.
For financial institutions, this partnership offers faster onboarding, reduced costs, and enhanced risk mitigation. For businesses, it means quick access to capital and streamlined engagement with financial partners. As CredAble and Chekk continue to expand globally, this partnership is poised to shape the future of financial services.
