Mondu sign with Detected to improve business customers’ onboarding experience.

Jan 30, 2024
Feb 10, 2024
min read
Ben Ainslie

30th January 2023, Mondu, the fast-growing B2B payments company, has signed with Detected to automate its merchant onboarding process. As Mondu continues to expand across Europe, having strong foundations in place for its merchant onboarding will aid its growth while also providing a better experience for Mondu’s business customers. 

Mondu is  focused on bringing the experience of business-to-business (B2B) payments up to par with business-to-customer (B2C) payments. Seamless and modern processes are rare for business customers, but Mondu is  changing this by offering flexible payment options without the operational difficulties. This enables merchants and marketplaces to grow safely and sustainably.

As Mondu continued to grow, a more comprehensive onboarding and compliance process was needed. In some regions, this was taken care of on behalf of its partner bank, which completed the KYB checks of the onboarding merchants. With the launch of the UK business and expansion into the Netherlands, Mondu needed a global solution that could be easily adapted to the different regional onboarding requirements. Another priority while searching for a provider was to have a seamless user experience.

There were immediate parallels between Mondu and Detected. As Mondu strives to improve B2B payments, Detected does the same for business onboarding. The speed and simplicity of consumer banking and payments (and their onboarding processes) is not a common experience for business merchants. 

Now, with Detected, Mondu’s customers arrive on a white-labelled onboarding flow with a quick and seamless onboarding experience that only requests the necessary information based on the modular configuration that has been setup. 

Detected’s risk, fraud and compliance ecosystem automatically combines the best information from a range of data sources into one complete business profile. This data, combined with the information obtained from the onboarding process is combined into a profile which acts as the single source of truth. This helps avoid acquiring multiple agreements with different data providers and, with use of the Detected Case Management System, allows for control over all customer data.

With the focus on user experience, the key metrics that will be tracked throughout this relationship are onboarding time and customer churn. Detected provides behavioural analytic reports that monitor customer’s interactions with the onboarding flows and provide feedback to constantly improve their experience.

About Detected: 

Detected is reinventing the traditional approach to business onboarding, lowering costs, while improving compliance and reducing regulatory risk for its customers.  Focused on meeting the needs of Payment companies and Marketplace operators where onboarding new merchants or customers is a time-sensitive, commercial imperative.

Detected is unique in the market by allowing its customers to design their ideal business onboarding sequence using the no-code, Detected modules. Customers then connect to Detected’s ecosystem of risk, fraud and compliance sources, ensuring the most appropriate checks are completed. Finally, the Detected case management system provides a single source of truth and control over all customer data.  

Welcome to Onboarding Intelligence by Detected.

About Mondu:

Mondu is driving innovation in B2B payments. By bringing B2B payments up to par with B2C and putting customers at the heart of the payment flow, Mondu ensures a seamless and state-of-the-art experience.

Mondu's solution enables merchants and marketplaces to offer their business customers across Europe the most popular B2B payment methods and flexible payment terms in a multi-channel setting, both online and offline. The result is a win-win story: business customers are empowered to purchase and pay when they want. This translates to a higher conversion rate and average order value, ultimately driving growth for merchants and marketplaces.

Mondu was founded in 2021 by entrepreneurs Malte Huffmann, Philipp Povel and Gil Danziger to simplify B2B payment transactions. Mondu now has offices in three markets - Germany, the Netherlands and the UK - and a diverse team of talented professionals with experience from the best companies in tech and elsewhere. Mondu has raised $90 million in equity and debt financing from leading investors Valar Ventures, Cherry Ventures, the FinTech Collective, and VVRB Bank.

Recently, Mondu successfully registered with the FCA and launched their B2B payments in the UK.

Article by
Ben Ainslie

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