Payset Selects Dotfile to Streamline Account Opening

We’re excited to welcome Payset as the latest Electronic Money Institution using Dotfile for automating KYB and account opening decisions! London-based Payset sought to invest in a next-generation compliance platform to streamline customer verification. The solution was found in a strategic partnership with Dotfile, that was just announced today.

Vasco Alexandre
Co-founder & CEO

Posted :

August 10, 2023

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The Payset + Dotfile Success Story

Payset, is a leading online payment platform based in London that provides a suite of financial services for businesses and individuals, including multi-currency accounts and virtual IBANs. Founded in 2018, the company has since grown rapidly, which supported the decision to invest in a next-generation Business Decisioning Platform like Dotfile. Payset will use Dotfile to further improve user experience during onboarding, while continuing to meet the highest compliance standards.

The Challenge

Payset's rapid growth and the increasing need for robust compliance measures required a scalable, efficient solution. The company's objectives were clear: streamline the KYB/KYC process, enhance compliance, and maintain a smooth onboarding experience.

The Solution

Dotfile's next-generation Business Decisioning Platform became the chosen solution, and here's why:

  1. Global Data Access: Dotfile’s native integration with leading business data, identity verification and AML screening providers allows Payset to paint a unified view of each customer, wherever they are. Not only this results in a much faster deployment of the new account opening procedure, it also helps the Compliance team improve decision making.
  2. Collaborative Case Management: Dotfile helps large compliance teams to collaborate at scale, to streamline complex onboarding flows that involve multiple products and geographies.
  3. Flexible Risk Scoring: Payset was able to quickly incorporate a wide range of risk scoring rules and enables the Compliance team to make changes on the fly, based on evolving business requirements.
  4. White-glove Onboarding: Dotfile's Customer Operations team was able to meet the high level of reactivity that a fast-growing and international organization like Paysets need.

The Outcome

  1. Rapid Deployment: Our team worked tightly with Payset to help them transition from their former solution to Dotfile in a matter of weeks and import their existing data. Business continuity was maintained and Dotfile is now tightly integrated with the company's core systems: from online onboarding flow, to the CRM and the back-office.
  2. Increased Operational Efficiency: Dotfile's Case Management tool enables Payset to drastically reduce the time required for account opening. This helps Payset support its growth while reducing costs and eliminating more manual and redundant tasks.
  3. Reduced Risk: By using Dotfile, Payset can maintain compliance at scale and mitigate fraud and legal risks. Dotfile will help Payset keep up with a rapidly evolving regulatory landscape and align its processes with the best Anti-Money Laundering standards.
  4. Boost in Customer Satisfaction and Conversion: With Dotfile, Payset customer are able to go through a quicker and more streamlined onboarding process. This contributes greatly to customer satisfaction and retention.


Through intelligent integration of Dotfile’s next-generation Business Decisioning Platform, Payset achieved tangible improvements in compliance, efficiency, and customer satisfaction. Leveraging global data access, AI-driven KYB orchestration, and flexible risk management tools, Payset successfully transformed its KYB/KYC processes. This collaboration allowed for a rapid deployment that maintained business continuity, reduced operational costs, and ensured alignment with the highest Anti-Money Laundering standards. Moreover, the streamlined onboarding process contributed positively to customer retention and satisfaction.

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