Why OTTO Payments Replaced its Data Aggregator with Sinpex

Industry

Payments / Financial Services

Company Size

250 employees

Solution

Full KYB Platform

Location

Germany, expanding across Europe

3x

faster onboarding

0 audit findings

down from 16

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Key Results

  • Cut onboarding from 21 days to 7, and dropping
  • Raised the share of partners onboarding with no human outreach needed from 67% to 85%
  • Reduced the partner-outreach team from 5 FTEs to 1 FTE
  • Went live in the Netherlands as its first international market, with six more EU countries in flight under a single compliance framework

The Challenge

OTTO Payments is a BaFin-licensed payment service provider built for marketplace scale: founded in 2020, licensed since 2022, €10 billion in payment volume, and almost 7,000 active B2B partners onboarded across its network. Every partner clears KYB before going live.

When OTTO Payments went live in 2022, sourcing business data from a third-party aggregator was the sensible choice. The model worked at first. Then two forces pulled in different directions: a fast-changing market that demanded faster onboarding across more EU countries, and tightening anti-money-laundering rules, capped by the new EU AML Regulation applicable from 2027. By 2024, partners wanted speed, regulators wanted depth, and the launch model could no longer deliver both.

The Shift: Why Otto Payments Rebuilt KYB with Sinpex

Sinpex is an AI-driven, end-to-end KYB platform that connects directly to official commercial registers in real time, with no aggregation layer in between.

  • Primary source connectivity. Every company record is drawn straight from the authoritative register, so the data is current at the moment of decision and every data point is traceable back to its origin.
  • Automated UBO analysis. Sinpex resolves and verifies beneficial ownership chains automatically, turning complex, cross-border structures into a clear, audit-grade result instead of leaving them to manual reconciliation.
  • Evidence, not just data. Each check delivers the original source document alongside the structured data, backed by a full, unbroken audit trail, the exact evidence a regulator asks to see.
  • The full AML chain, end-to-end. PEP and sanctions screening, onboarding, and audit trail run on a single platform, in Germany and across Europe.
  • API-first, white-label onboarding. The portal is modular and configurable to OTTO Payments' own compliance specifications, so entering a new market is a configuration rather than a rebuild.
Cutting KYB onboarding from 21 days to 7 with Sinpex has been a huge success. It may sound like a process improvement, but at our scale it is a strategic one. Two weeks reclaimed per partner is the kind of compounding that changes what KYB is on the P&L.
Mirko Krauel CEO of OTTO Payments

The Results: What Changed for OTTO Payments

Onboarding Speed

3x faster onboarding

OTTO Payments felt it first in the speed of onboarding. Onboarding dropped from 21 days to 7, as the manual reconciliation that used to sit on top of the process fell away.

Full Compliance

16 audit findings turn to 0

The second change was the audit. Under the old setup, OTTO Payments had carried a series of findings. This time it brought its internal audit team into the review. The verdict: the new foundation was fully compliant. Findings went from 16 to 0.

Less Customer Outreach

85% onboardings without touchpoints

The third was efficiency. With data drawn straight from the source combined with Sinpex's AI capabilities, the share of partner onboardings with no human contact at all rose from 67% to 85%.

Higher Throughput

5x reduction in manual workload

Fourth, OTTO Payments was able to reduce its team responsible for client outreach and onboarding from 5 FTEs to 1 FTE, freeing up capacity for more high-value tasks.

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Looking Ahead: From 1 Market to 8, on a Single Framework

OTTO Payments has moved from operating in Germany alone to running Germany and the Netherlands live, with Poland, Austria, France, Spain, Denmark, and Italy in progress — all under one compliance framework rather than a separate build per country. Internationalization, once a roadblock, has become a configuration with Sinpex.

Find out how Sinpex can improve your KYB onboarding. Request a demo →

‍Sinpex is the global KYB infrastructure for proven results — direct from the primary source, across 200+ jurisdictions. Audit-ready. Battleproof.