Cherry helps healthcare practices offer flexible patient financing at the point of care. When demand surged, Cherry needed an onboarding experience that moved as quickly as its customers without sacrificing risk controls or compliance.

When Senior Manager of Practice Acquisition Juny Nguyen joined Cherry, he was responsible for overhauling their automated practice onboarding. Multiple vendors, manual checks, and request-and-wait document collection slowed decisions and created friction for legitimate practices eager to start transacting.

Fraud patterns were also evolving. AI-polished websites and fast-changing entity records made it harder to separate legitimate businesses from high-risk actors, particularly in a domain where licensing, ownership rules, and clinical services vary by state.

“My task was to figure out how to automate our underwriting process. Our automation for new vendors was limited, slow and resource-intensive.” — Juny Nguyen, Senior Manager, Practice Acquisition, Cherry

Cherry curated their own standardized onboarding experience using a selection of Middesk’s platform products. The package includes the Verify product that offers a full KYB report for every applicant. Risk and verification insights were added on top via Web analysis, adverse media, litigation searches to automate more of their manual onboarding requirements.  With hydrated business information Cherry’s onboarding and fraud teams are using authoritative data to complete the onboarding requirements faster. Additionally, Cherry tracks some businesses with registration SOS monitoring to make sure applicants don’t perform common fraud actions post onboarding. 

Key capabilities include:

• Business Verification confirms the entity, entity status, addresses, people, and ownership behind each practice.
• Web Insights automates risk assessment data collection and evaluation with online presence, social media third-party profiles and website signals.
• Consolidated address intelligence (e.g., commercial vs. residential, virtual/mailbox, registered agent, frequency of use) spots non-operating or suspicious locations earlier in the funnel.
• Litigation search identifies relevant court case records tied to a business or person without checking various sources 
• Adverse media screens businesses and people for negative news or adverse media to flag potential risk. 

The result? Faster onboarding with more automation and insights. Cherry now has a centralized business identity platform, with reduced application back-and-forth, and decisioning powered with consistent, high-quality signals, available to their team via API and dashboard. 

With the Middesk platform, Cherry’s team can also understand how their healthcare practice applicants change post-onboarding. That includes entity-level events (e.g., name/manager changes) and website presence shifts that may indicate new risk, powering a move from point-in-time checks to perpetual KYB.

Combining these pieces resulted in fewer manual reviews, shorter decision times and stronger data foundation for risk and operations.

Within the first year, Cherry achieved:

• 50% decrease in onboarding timeAverage decisioning time dropped in half, improving conversion and partner satisfaction.
• 300%+ increase in automationAutomated onboarding had a more than 3x increase, freeing the team to focus on edge cases and investigations.
• 200%+ increase in onboarded practicesWith friction down and automation up, Cherry scaled throughput without expanding headcount.

“Middesk helped us speed up the data gathering we needed to do. We’ve increased automation by 3x at Cherry now. That’s huge.” — Juny Nguyen

With core automation maximized, Cherry is expanding into real-time monitoring to proactively flag high-signal changes and route only meaningful cases for review. The goal: catch more fraud pre-transaction, keep good practices flowing, and keep decisioning fast as volumes grow.

“We’re getting maximum value out of Business Verification. Next, we’re focused on using Middesk’s insights for deeper fraud prevention and continuous monitoring.” — Juny Nguyen

Cherry evaluated a range of vendors and chose Middesk for its breadth, depth, and accuracy, without the bloat.

“Middesk has the products we need and they do them really well. Data quality and accuracy build trust for us.” — Juny Nguyen

That trust extends beyond product to education and thought-leadership, helping Cherry stay ahead of trends like AI-assisted fraud, UBO transparency, and perpetual KYB.