Unlike other merchant vendors, Autobooks performs an upfront risk assessment, monitors payment activity for potential fraud for as well as manages the resolution of customer disputes (chargebacks).
Autobooks has a standard process to approve customers (merchants) to accept payments.
General Onboarding Process
Your customer will initiate the set up of their Autobooks account within your online bank environment by performing these three steps:
- The customer will click on an Autobooks module and will be presented with an information page about our technology.
- Accept our terms and conditions.
- Create and customize their invoice or payment form template.
After the first two steps are completed, the customer's data is shared between your core banking system and Autobooks. We use this data to run an automated risk assessment to approve the customer for payment processing. Approximately 75% of customers are approved for digital payments within seconds.
What happens if my customer isn't instantly approved to process payments?
About 25% of customers require a manual risk review or we are missing information to have a complete data set for automated approval.
For those with missing information, we attempt to gather the data in a few ways:
- Via the Autobooks Hub - your financial institution can contribute the missing data using our Progress Center tool within the Hub.
- Within our application - we will display messages with questions the customer can answer in-app.
- Reach out via email/phone - our Customer Success team will email and/or phone the customer to gather missing information.
Once we've gathered the missing data, we will run our automated risk assessment to approve the customer for digital payment.
A few customers do require a manual review of the automated results. We may ask the customer for additional information, or use manual validation methods to confirm details. The customer is informed if they are under manual review, and we will update the customer in the event we cannot approve them for digital payment processing.