myTU taps Intrepid Fox to automate business onboarding

By Vriti Gothi

myTU, a Lithuania-headquartered digital bank, has partnered with London-based Intrepid Fox to integrate artificial intelligence-driven Know Your Business (KYB) capabilities into its business banking platform, aiming to reduce onboarding times for companies operating across the European Economic Area (EEA).

Under the agreement, Intrepid Fox’s AI-powered KYB technology will be embedded directly into myTU’s onboarding workflow, replacing manual verification processes with an automated, end-to-end digital system. The integration is designed to enable small and medium-sized enterprises (SMEs) and fintech clients to open fully operational accounts within minutes, rather than days.

Business onboarding has long been a friction point in commercial banking, particularly in cross-border contexts. Manual KYB reviews, repeated document submissions, and fragmented compliance processes often delay account activation and increase operational workloads for banks. The move reflects a broader industry shift toward automation in compliance functions, as financial institutions seek to balance regulatory scrutiny with faster customer acquisition.

As a fully licensed Electronic Money Institution operating across the EEA, myTU must comply with stringent regulatory requirements. By embedding Intrepid Fox’s AI agents, the bank aims to automate document verification, ultimate beneficial ownership (UBO) analysis, and risk assessment, while retaining compliance oversight over final decisions. The approach is intended to reduce administrative burden without compromising regulatory standards.

Intrepid Fox’s platform uses generative and contextual AI to collect, extract, and verify corporate documentation. It also engages business owners to resolve incomplete information and enriches onboarding data using more than 250 official company registers and public data sources globally. This model is designed to streamline information gathering and allow compliance teams to focus more directly on risk evaluation.

The partnership aligns with myTU’s broader strategy to develop a programmable banking platform in which onboarding, payments, cards, and compliance functions operate within a unified system. The bank, which has expanded its focus on business banking in recent years, currently serves more than 500 business clients and offers services including instant pay-ins and payouts, card issuing and acquiring, and Business Cards as a Service via API.

The collaboration underscores the growing role of AI in compliance automation across European fintech, as institutions seek to reduce onboarding friction while maintaining regulatory integrity in an increasingly complex operating environment.