Business Account Opening
Within minutes Loquat can authenticate, verify, and open a small business account. Onboarding clients used to take weeks, now it takes minutes
Omni-channel continuity:
start anywhere, resume anywhere
Real time identity and OFAC screening with 6+ layers of KYC, KYB, and AML
Redeploy your personnel to higher value-adding activities
Elite UI/UX client experience
Swift deployment
and modern scalability
Advanced employee portal that offers unparalleled real time insights and functionality
Omni-channel continuity:
start anywhere, resume anywhere
Real time identity and OFAC screening with 6+ layers of KYC, KYB, and AML
Redeploy your personnel to higher value-adding activities
Elite UI/UX client experience
Swift deployment
and modern scalability
Advanced employee portal that offers unparalleled real time insights and functionality
A positive, differentiated, state of the art application experience to drive growth and achieve full revenue potential
Small business clients expect financial institutions to offer a modern and seamless digital experience that is intuitive, simple, instant, and personalized
Our transparent workflows
and powerful
backend application lifecycle management portal
enable financial institutions to easily access client data, generate reports, and
identify cross-selling opportunities through the app, mobile, web, or in-branch account
opening
Our small business account opening solution offers:
- A streamlined client journey for consistent experiences and improved retention rates
- Omni-channel continuity to seamlessly transition between web, mobile, and branch
- Best-in-class identity verification that will meet your compliance standards
The power of Loquat at your employees’ fingertips
- Real time visibility of application submission data as it is being filled out
- Configurable workflows for increased transparency, visibility and governance
- Built-in case management system for AML / fraud / OFAC
- Application management for assigning tasks and applications to employees
- Data-driven analytics and reporting for client insights and operational efficiencies, sales, and marketing opportunities
- All data is stored in client's owned database for maximum security
account opening solution Request a Demo
Any Questions?
our FAQs
Loquat empowers credit unions, regional banks, and community banks with sophisticated digital account opening capabilities superior to those offered by larger financial institutions. The platform combines the technological advantages of Loquat with your financial institution’s personalized service and community focus, creating a compelling value proposition for businesses in your market.
Loquat supports digital onboarding for a full suite of consumer and business accounts, including but not limited to:
- Business checking accounts
- Savings and money market accounts
- Certificates of deposit (CDs)
Yes. Loquat enables end-to-end digital account opening — from identity & business verification, to document upload, to account selection, to cross-sell opt-ins, to approval, and ultimately funding — without requiring a branch visit or call center interaction. We reduce friction while improving speed, compliance and security.
Our platform includes complete KYC/KYB workflows for verifying business owners, signers, and the business entity itself.
Loquat also offers:
- AI tools for document capture and validation (e.g., personal ID, formation documents)
- Beneficial ownership attestation
- Fraud monitoring and flagging
- Integration with third-party data providers for watchlist screening
Loquat’s KYC/KYB capabilities ensure your financial institution remains compliant with BSA/AML regulations while reducing costly and error-prone manual review time.
Absolutely. Loquat is built to handle complex ownership structures and supports various business types including:
- Sole proprietorships
- Partnerships
- Corporations (C-Corp, S-Corp)
- LLCs (single- and multi-member)
- Nonprofits and professional associations
Most consumer and business clients can complete their application in under 10 minutes. With integrated verifications and digital document handling, accounts can be approved and funded in as little as one business day, depending on your financial institution’s application approval policies.
Loquat wants to be sure that you’re a live person. This is one of our 6+ layers of security.
We are checking the selfie against ID scans and using an AI-driven tool to make sure the person is a real human. The technology analyzes facial geometry to ensure a natural 3D structure – including shades and contours – and confirms that the uploaded image is not just a picture of a picture.
Loquat takes a hybrid approach to fraud prevention, combining advanced technology with human oversight to ensure both effectiveness and accuracy.
We employ 6+ layers of authentication and fraud detection across our advanced KYC, KYB, and AML workflows—including Identity Management System (e.g. ForgeRock, Ping Identity, Microsoft Entra), real-time data checks, and end-to-end encryption—to secure sensitive information and minimize client friction.
But we don’t stop at automation. Our fraud prevention strategy also includes human review, if needed, at key decision points, ensuring that nuanced cases receive expert evaluation. This balance of real-time tools and expert intervention helps reduce false positives and enables your institution to confidently onboard legitimate customers while mitigating risk.
