Oxygen Implements Automated, Compliant Enterprise Account Opening with DocFox
SAN FRANCISCO, January 25, 2022 /PRNewswire/ — Oxygen, the modern financial platform built for the 21st century, today announced that it has implemented DocFox to automate and streamline account opening for its business customers.
Oxygen provides seamless digital banking experiences for individuals and businesses. As the business grows, manual processes such as opening a business account become more and more difficult because they don’t fit naturally. Unlike consumer accounts, the regulatory and compliance requirements associated with more complex accounts make it harder to deliver a low-friction experience to new customers. Seeking to deliver great travel without sacrificing compliance or increasing costs, Oxygen turned to DocFox.
DocFox provides workflow automation for corporate account opening. By interfacing with Oxygen’s existing systems via API integration, DocFox provides advanced document analysis combined with exception management. This facilitates scalable and compliant onboarding journeys for even the most complex enterprise accounts encountered by Oxygen.
“Oxygen is powering a new wave of small businesses that will be the growth engine of the 21st century economy. We’re talking to a specific small business – creators and solopreneurs – who have experienced torrid growth since the start of the pandemic We needed a business banking solution to keep pace with our own hyper-growth,” says Hussein Ahmed, CEO of Oxygen. “We chose DocFox because of its ability to validate documents quickly and compliantly, and for the custom journeys we could create to deliver the most forward-thinking experience for our business customers.”
“Growing your fintech business is not possible without being able to scale both onboarding and compliance,” says DocFox CEO Ryan Canine. “With the custom workflows and powerful integrations provided by DocFox, Oxygen can deliver best-in-class integration to any business client, no matter how complex.”
DocFox is the leading provider of digitized business account integration software. Used by more than 200 financial institutions worldwide, including banks, credit unions and fintechs, its app uses intelligent automation and highly customized workflows to enable institutions of all sizes to effortlessly integrate professional accounts. DocFox has offices in Boston and Miami, United States and Johannesburg, South Africa.
For more information about DocFox and to request a live demo, visit docfox.io.
Oxygen is a modern financial platform designed for the 21st century economy – providing digital natives, creators and entrepreneurs who push the boundaries every day with a banking partner that understands how they live and work by providing a seamless user experience for personal and business accounts in one app. Available on iOS and Android, Oxygen users enjoy advance direct deposit, easy transfers, cash back and robust savings options in addition to everyday retail and travel benefits. Businesses can start and scale their operations with simple, integrated solutions like domestic LLC incorporation and custom billing. Reject the ordinary. Bank for the extraordinary.
Media and press contacts:
Alisha Alvarez, Media Representative for Oxygen
Angela Limoncelli, Chief Marketing Officer, DocFox