SOLO's GraphQL is live — any bank, fintech, or data provider can now issue and query credentials, verifications, and furnish customer data through one open, customer- permissioned graph. Credential and data acceptance are governed by each querier’s own policy standards, with auditability, provenance, and evidence preserved for everything published to the network. GraphQL makes it possible to move verified processes, not just customer data. Enabling interoperability without forced uniformity on policy standards. Read more on how the GraphQL works, and request access solo.one/blog/graph-ql

The most instructive finding in this Conversion Scorecard is not the winner or the loser. It’s what happened at @Novo_HQ, @relayfinancial, and @rhobusiness All asked for document-based KYC and KYB: an ID document upload, a selfie check, and an articles of incorporation upload. They still landed in the upper half of the pack, but left all of this work on the table for the customer to do. Not just once. But with every provider in almost the exact same method. If any of the fintechs implemented a KYC or KYB credential that let the customer skip the uploads and the liveness checks they’d already completed elsewhere, while still satisfying their own existing CIP and CDD policy, they would move up the rankings immediately. Fewer uploads, less manual entry, fewer screens, and 4-10 minutes off total application time. More on their opportunity at solo.one/blog/business-banki…

We have a new winner (and a new loser) on conversion for business bank account applications. Taking the top spot: Lili scored an 87.2 out of 100 with our Conversion Scorecard. Beating last episode’s winner, @Square for the top spot. And last place: @truist unseating Slash with a score of 22%. Watch the full review and see where the rest of the new players ranked at solo.one/blog/business-banki…

Banks vs. Fintechs: how big is the customer experience gap at account opening? This week’s Conversion Scorecard on Consumer Deposit Accounts revealed that both segments have largely solved for a frictionless consumer application. Our winner, @current, scored an impressive 86/100. All 6 applications performed well, especially compared to our findings on business banking account experiences. Most were completed within 5 mins or less. However, an approved application doesn’t equal an active account. Which is one of our requirements for full conversion. Drop off still happens when you ask someone to get their ID from the other room, re-enter information you should already know, or connect an external account with a method that fails more than half of the time. Our findings: delayed friction isn’t removed friction, and it can still cost a fintech or bank the unit economics of their funnel. View our full Scorecard, plus real customer insights for operators preparing their customer experiences for upcoming raised bar CIP requirements at solo.one/blog/consumer-depos…

Which fintech’s application scores the highest and lowest for conversion? Our category loser @slashapp scored 41/100. With 56+ data fields and 8 document uploads, Slash has by far the most rigorous CIP policy we encountered. Unfortunately these requirements shifted burdens to the customer in a way we did not experience with the other six in the category. A standout example: a required proof of good standing necessitated account creation and payment to a government registry. Even after multiple documents, including those proving operating activity, were supplied. Conversion should not come at the expense of compliance. Our review of Slash’s application and where they have an opportunity to turn existing networks into onboarding infrastructure to fast pass a customer instead adding friction below:

Which fintech’s application scores the highest and lowest for conversion? Starting with our category winner. @Square won with a score of 81/100. How? They asked for the least amount of user effort. We were able to get a business checking account by filling out just 20 data fields without a single document upload or additional task. This application, though quick to complete in less than 5 minutes, highlights what is a theme across fintech: Conversion is often viewed at odds with diligence. For regulated products, removing verification steps to acquire customers is simply not an option - nor should it need to be.

We scored 7 business banking onboarding flows start to finish: Mercury, Square, Stripe, Brex, Ramp, Flex, and Slash to see which fintechs are winning on application conversion. Top score: 81%. Losing score: 41%. Every one solved decision speed. None truly solved the application. The biggest driver of rank was how much CIP the customer was made to carry — which means strong KYC and KYB policies are currently being translated as friction to customers. Fintechs still have a massive opportunity to turn KYC/KYB checks, seen as a burden today, into a ‘breeze through’ experience for customers by relying on policy-compliant verifications that have already been performed to fully remove that task for their customer. See all the scores and our category review: solo.one/blog/business-banki…

Introducing the Conversion Scorecard. When we launched KYC and KYB certificates, we had to put them to the test to see exactly how many steps reusable verifications could remove from a customer’s onboarding. We thought we could help the banks compete on a higher conversion experience that fintechs had already figured out. But the reality of what we found after scoring hundreds of programs: some of the industry’s best fintechs have settled for 50+ min applications.

On June 8, the SOLO Network began a structured, three-stage pilot to operationalize the bank reliance framework established under 31 C.F.R. § 1020.220(a) (6) under the observation of the U.S. Department of the Treasury, FinCEN, OCC, and FDIC. Full press release: businesswire.com/news/home/2…

Querying policies allow banks and fintechs to rely on verification steps already completed at another bank when they satisfy their requirements, without changing existing workflows or lowering compliance standards. Learn how banks and fintechs define their bar for trust solo.one/blog/configure-quer…

Skip the customer verification steps another bank has already done and been audited for. Get paid when your contributions fast pass customers somewhere else. SOLO’s collaborative customer intake is powered by a reliance network of sponsor banks representing more than 100 million customer profiles. solo.one/customer-intake

Is customer data an asset or a liability? On April 1st SOLO's founder @georginamerhom will be moderating a panel on the Banking Stage at @FintechMeetup bringing together four leaders who live this tension from very different seats. @amasad @hyper_ed @mantlco @PNCBank