AI-powered KYB functionality will enhance myTU’s banking platform through direct integration, enabling business customers to open fully operational accounts in minutes rather than days without extra fuss.
myTU, Lithuania-based digital bank, has partnered with Intrepid Fox, an AI-powered Know Your Business platform born in London, to accelerate and simplify business onboarding process for businesses operating across the European Economic Area (EEA).
The partnership will enable seamless integration of Intrepid Fox’s AI-driven KYB technology directly into myTU’s onboarding flow, replacing manual verification processes with an automated, end-to-end digital experience, much needed in banking scenarios.
Lengthy onboarding remains one of the most persistent friction points in business banking up-to-date. Manual KYB reviews, repeated document requests, and fragmented compliance workflows delay account activation and create operational burden for both customers and banks. The average onboarding process for new corporate banking clients can take up to 100 days, depending on products and regions, making it extremely slow compared with modern digital expectations. Therefore, about a quarter of newly-signed businesses abandon the onboarding process altogether before using the product they signed up for because of friction and inefficiencies.
By embedding Intrepid Fox’s AI agents, myTU automates document verification, ownership and UBO analysis, and risk assessment, while keeping compliance teams fully in control of final decisions. The integration significantly reduces onboarding times for SMEs and fintechs from application to fully operational accounts in minutes, without compromising compliance, which is critical for myTU, subject to strict regulatory requirements as a fully licensed Electronic Money Institution (EMI) operating across the EEA.
The partnership enables the bank to scale business onboarding efficiently without increasing compliance workload, while offering clients a faster and more transparent onboarding journey.
“The bottleneck for business growth has long been the onboarding process. By integrating Intrepid Fox into our onboarding flow, we significantly reduce manual follow-ups and accelerate time-to-money for our clients, while retaining full transparency and control for our compliance team.”
Raman Korneu, CEO and Co-Founder of myTU
Intrepid Fox’s tech stack leverages generative and contextual AI to automatically collect, extract, and verify corporate documents, engage business owners to resolve missing or unclear information, and enrich onboarding data using more than 250 official company registers and trusted public data sources worldwide. This approach reduces unnecessary back-and-forth requests and allows compliance teams to focus on risk evaluation rather than manual checks.
“Manual KYB is coming to an end. We are proud to support myTU as they redefine digital banking for businesses. By utilizing AI as a core competitive advantage, they aren’t just speeding up a process; they are fundamentally changing how trust is established in the financial ecosystem.”
Roman Zilber, CEO and Co-Founder of Intrepid Fox
myTU has expanded its focus on business banking in recent years, expanding its business customer base to more than 500 clients, with new companies onboarding continuously. Its business offering includes banking services such as instant pay-ins and payouts, card issuing and acquiring, and Business Cards as a Service managed via API.
The partnership aligns with myTU’s ongoing strategy to build a fully programmable banking platform where onboarding, payments, cards, and compliance operate as a single automated system. Together, myTU and Intrepid Fox aim to set a new benchmark for fast, compliant, and user-friendly business onboarding in Europe.
