Embedded RFI: More speed and accuracy in regulatory processes

In the financial industry, especially when it comes to international payments, the ability to collect and validate information about transactions and the parties involved is not a differentiator, but a regulatory requirement.

With the growth of cross-border operations, new payment flows have emerged, and the compliance landscape has become more stringent, with requirements that vary by region. Fintechs and financial institutions operating at scale need solutions that can automate and simplify these complex processes.

With that in mind, Conduit has enhanced its Embedded RFI feature, bringing greater speed, transparency, and scalability to information verification and request workflows.

What is an RFI?

RFI (Request for Information) is the process of requesting additional documents or data to validate transactions or identify a customer’s profile. This step is common in risk assessments, anti-money laundering (AML) procedures, and Know Your Customer (KYC) or Know Your Business (KYB) processes.

In many cases, the RFI process is still handled manually, involving back-and-forth emails, spreadsheets, and unstructured documents, making the process slow, error-prone, and frustrating for both analysts and end users.

An efficient RFI workflow is essential to:

• Ensure regulatory compliance across different jurisdictions;
• Speed up investigation and review timelines;
• Minimize friction with end users during sensitive requests;
• Reduce operational and reputational risk.

With Conduit’s Embedded RFI, these goals can be achieved with greater simplicity and control.

Conduit's Embedded RFI: Automated compliance workflows

The new features represent a significant advancement, providing greater agility in transactions that require additional attention. The RFI process, integrated into Conduit’s infrastructure through both the API and web app, is now even more automated and seamlessly connected end-to-end.

Enhanced end-user experience to improve RFI process

Clear and Direct Notifications: Users receive automatic document request alerts via email and through an “Action Required” banner on the dashboard, with details visible within the transaction.

Intuitive Viewing: The RFI process display has been further simplified on the platform, with all requested items organized by status.

Streamlined submission: Users can independently submit documents directly through the platform, as well as add contextual instructions in free-text fields, making the process clearer and reducing misunderstandings.

Benefits of Embedded RFI for users and businesses

• Reduction of manual work and inefficient interface between teams;
• Faster resolution of blocked or under-review transactions;
• Clear and transparent experience for the end customer;
• Flexibility to adapt the process to different regulatory requirements;
• Scalability to handle increasing transaction volumes.

Ready to transform your compliance workflow?

Embedded RFI is another feature designed for fintechs that want to operate efficiently on a global scale while maintaining the highest compliance standards without compromising customer experience. It is already available on Conduit's web app and API.

Get in touch with our team and find out how to implement Embedded RFI in your operation.