• Alternative Finance

Find out how this alternative lender used Modulr to reduce its onboarding time from 2 days to 5 minutes.

The Problem

Automation

Liberis is a specialist business finance provider. It enables small business owners to repay what they’ve borrowed by deducting a small percentage from businesses’ customer card transactions.

Its process for reconciling merchant account receivables from card acquirers was manual and costly. In addition, Liberis’ customer service processes were lengthy: customer on-boarding took two days, and the staff were often unable to retrieve the data they required to resolve customer queries easily.
Modulr worked with Liberis to address these issues, and improve its overall service offering.

The Solution

Visibility

Modulr’s payment APIs represent an opportunity to deliver the speed and flexibility expected by modern markets through existing systems. Its team has decades of experience in both technology and payment services, and its solutions are focused on maintaining control while opening up opportunities to achieve scale and growth. Modulr provided Liberis with its innovative payments technology to help deliver a faster, more flexible service to its clients.

Liberis easily implemented Modulr’s payments APIs, and this has enabled the business to achieve both an easier process for taking receivables from card acquirers, and improve its customer service offering.

By using Modulr’s technology, Liberis no longer has to use a tedious and manual process for reconciliation. Instead, this process has been completely automated using Modulr’s payment splitting capability. This has created the opportunity for Liberis to automatically split payments with the merchant acquirer directly involved in the transaction.

Liberis has since seen a significant cost reduction of 35% since overhauling this process. This has enabled Liberis to adopt a leaner business model, and has saved its back-office staff countless hours of manual batch file processing.

Liberis has seen a positive shift in its customer service offering. Modulr’s APIs enable customers to open accounts much faster, which means its on-boarding time has been slashed from 2 days to 5 minutes. Liberis’ team is now able to bring more SME clients on board than ever before. This demonstrates that Modulr has provided Liberis with a scalable solution that truly enables business growth.

This positive shift in service hasn’t just been limited to new customers; Liberis’ existing customers are also seeing the benefits. Jakub Zmuda, Product Director at Modulr, summarised: “Our partnership with Liberis enables them to cut transaction costs by a third, reduce account on-boarding from days to minutes, resolve customer queries much faster, and introduce rules which takeaway the admin headache. It adds up to a better service which helps retain customers.”

The Benefits

Create accounts instantly

As soon as customers are approved, they are provided with unique Modulr accounts. This has helped reduce customer onboarding time from 2 days to 5 minutes.

Automatic notifications

The Modulr API allows Liberis to trigger automatic notifications when funds have arrived into their accounts, so they know always know exactly where funds are.

Efficient receivables collection

Repayments to Liberis are automatically deducted from card transactions, reducing the need for manual account intervention.

Quick and simple reconciliation

With unique debtor accounts, notification of fund movements and payment splitting, reconciliations have become faster and easier.

Reduce technology support costs

By replacing manual processes with Modulr’s API, Liberis has been able to reduce costs by 35%.

Secure accounts

Individual FCA regulated E-Money Accounts are held securely by Modulr, and can be controlled by Liberis through Modulr’s API

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Clients can access Modulr services through multiple methods

Integrate Modulr services directly into your platform

Log in to manage customers, accounts and payments

Instantly create and manage multiple accounts

Register clients for services and manage their accounts

Configure payment processing rules to automate payment flows

Initiate payments instantly

Know exactly when changes happen to your accounts

Seamless access to payment schemes

How Modulr works for Liberis

Modulr is a highly flexible and configurable platform to suite different business’ needs. The diagram shows how Liberis have combined the modules we offer to to enable a solution that’s right for them. 

Contact us to see how Modulr could work for you

What Liberis thinks

Liberis’ CEO Rob Straathof added: “We have seen some terrific improvements at Liberis thanks to Modulr’s payment APIs. Our customers’ feedback about our improved onboarding process has been extremely positive, and the team has noticed how much time we now save since getting rid of our existing manual payment processes.”


Rob Straathof - CEO , Liberis

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