Trébol, a startup that seamlessly automates business identity verification and underwriting decisions, has secured $3 million in seed funding to help modernize how companies in Latin America are onboarded. Trébol’s infrastructure is revamping how banks, lenders, and compliance officers onboard their business customers by automating traditional pen-and-paper processes.
With Trebol’s technology, banks and lenders can quickly access must-have data from reliable sources such as formation documents, tax records, proof of address, and more to onboard a business safely.
Banks can easily verify a consumer’s identity by asking for a few pieces of information, allowing customers to open new financial products almost instantly. When it comes to verifying the identity of a business, the process can take weeks, particularly across Latin America.
Improving the process of verifying a business is more important than ever. Business owners have a lot on their plate and shouldn’t face yet another obstacle. On the other side, banks and lenders must comply with increasing regulatory demands and must run a thorough review for each new business customer. It’s a process that can take weeks and for many business owners every minute counts, especially when it comes to accessing financial services.