For SeQura, a Buy Now, Pay Later platform serving more than 4,000 merchant stores and 1.5 million buyers across Southern Europe, Know Your Business (KYB) onboarding had become the point where growth stalled.
According to Duna, the RegTech firm behind its new compliance setup, that constraint has now largely disappeared. SeQura’s ten-person team reviews cases in an average of 14.9 minutes, approves 95.2% of them, and sees merchants complete onboarding correctly on the first attempt 88% of the time.
By summer 2024, Duna says, SeQura was relying on a form-based tool that gathered merchant information without validating it. Separate tools had been bolted on to handle KYB, and some checks were still manual. A standard case required analysts to work across four or five systems and took around four hours. Cases with several owners, each needing ID and registry verification, could consume an entire afternoon.
SeQura head of onboarding Fuen Hidalgo said, “Before Duna, the team had to open one tool to verify documentation, another for screening. We were jumping from tool to tool.”
Duna argues that most onboarding tools are workflow builders that organise work between people rather than reduce it. Its policy engine instead executes the rules directly. SeQura’s compliance team, led by compliance officer Daniel Zipse, sets the criteria for low, medium and high risk merchants, the documents required for each legal form and the triggers for enhanced due diligence. Duna then applies those rules to every incoming case.
SeQura head of product Rafael Alvares said, “Capacity used to be the constraint on growth. Every new vertical or market meant another round of hiring. With Duna running the policy on every case, the operation scales with the policy, not with cost.”
The impact was tested in early 2025, when SeQura reboarded 1,700 active merchants for mandatory periodic reviews while maintaining its normal flow. Duna notes that at 243 minutes per case, the old stack would have required nearly 7,000 analyst-hours. On Duna, the batch took roughly 420, about 6% of the previous workload.
Merchant experience improved too. Because the engine encodes requirements by legal form, vertical and risk profile, each merchant sees only the fields relevant to them, while registry data such as directors and ultimate beneficial owners is pre-filled. First-time right rose from 50% to 88%, a 76% increase, with average active onboarding time at 27.5 minutes.
Alvares said, “Duna runs every screening and verification check against our policy before the case reaches an analyst. 88% first-time right is a result we are genuinely happy with.”
With adverse media, PEP, ID and watchlist checks surfaced before a case is opened, analyst time per case has fallen 16.3 times, freeing staff for high-risk and edge cases.
Hidalgo said, “Duna’s automation has changed our day-to-day. Going from over four hours per case to under fifteen minutes inside Duna means analysts spend their time on the cases that need judgment, not on the cases that don’t.”
Headquartered in Amsterdam and backed by Index Ventures and CapitalG, Duna counts Plaid, Brand New Day, Moss and Bol among its customers.
For more, read the full story here.
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