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How Cherry Built a Scalable Merchant Risk Program with Coris
Discover how Cherry Technologies scaled healthcare underwriting with Coris. Learn how automation, real-time monitoring, and litigation checks improved onboarding speed, reduced false positives, and strengthened risk management.
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MerchantProfiler
Merchant Monitoring
The Challenge
As Cherry Technologies grew, the risk team faced increasing pressure to approve legitimate healthcare practices quickly while maintaining a high bar for fraud and reputational risk. The team’s underwriting process relied on a wide set of checks – business legitimacy, ownership, reputation, and banking compliance – but much of it was still manual and fragmented.
We cared deeply about practice risk” said Scott Monaco, VP of Practice Intelligence & Risk at Cherry. “But as application volume increased, it became a strain on our ops team. We needed automation and scale.
The team also needed real-time visibility into their practice portfolio, not just at onboarding but throughout the merchant lifecycle.
Why Coris
Cherry evaluated a range of vendors and ran a pilot with Coris focused on hit rate, accuracy, and breadth of signals.
The test we ran gave us confidence,” Scott shared. “The pilot gave us confidence. We validated Coris against our benchmarks, and the data backed it up.
The breadth of the Coris platform also stood out. What started with a few core checks – such as business registration and prohibited services screening – quickly evolved into a broader risk program that now includes reputation monitoring, litigation monitoring, and ongoing portfolio monitoring.
The Solution
Cherry now uses Coris to automate underwriting, augment their risk rules, and monitor their growing merchant portfolio in real time.
Key Coris Capabilities Used:
- MerchantProfiler: Automated checks for business registration, address verification, online reputation, prohibited services, and more.
- Merchant Monitoring: Ongoing alerts for shifts in merchant behavior, including negative review trends, website status changes, and adverse media.
- Litigation and Bankruptcy Checks: Early warning signals that identify merchants with hidden legal risks.
Coris helped us identify a practice that would have exposed us to nearly $100K in losses” Scott said. “That single event speaks to the value of their litigation and bankruptcy checks.
The Results
- 2–3x improvement in automated onboarding of practices
- Faster time to onboard – seconds for low-risk practices, and under a day even for manual reviews.
- ~30% false positive rate on alerts, which the team considers acceptable and actionable
- Improved reputation checks and service classification to comply with banking partner policies
Coris isn’t just giving us data. They’ve helped us build a more cohesive, high-coverage risk program that scales
Advice to Other Risk Teams
Be holistic and specific about what you want from your risk platform. Communicate your needs, run a pilot, and see if the product delivers. Coris did that for us.
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