KYC Automation using AI techniques
Updated: Aug 27, 2019
What it's all about!
Do you have a KYC process for your business? Are you thinking to automate KYC process? No time to waste, the adoption rate is increasing. The KYC automation process powered by AI can be integrated with the customer on-boarding processes of Banking institutions, Insurance, Micro-finance providers, digital trading platforms etc. It can cover the following information:
Proof of Identity
Proof of Address
Account opening form
Client Information Sheet
Five step KYC automation process can be integrated with your business processes and get the results in less than a minute. Let’s take a look at the five step process:
1). Upload the scanned/digital copy of the ID card
2). System will extract the contents out of the ID card
3). Infer the contents and understand the context. For eg: Name, Gender etc.
4). Facial recognition and validation- Compare the captured image from device camera with the image from Id card
5). Final Validation- Validate the final extracted content with the customer
Challenges that we are solving...
Need of a centralised KYC process covering all the branches of a business entity
Enhance the accuracy and data security
Align data from multiple sources into a single data lake
Minimise the human intervention
Optimise the manpower cost
Features of the solution...
An AI engine that can be custom trained for any ID cards and use cases
Computer vision based object detection and OCR+NLP solution for character recognition
Biometric based user validation- Facial Recognition
API call enabled integration with any platform or solution
How to use this!
We can integrate this with a Web-Mobile solution wrapper
Chatbot integration is also possible
Content extraction and facial biometric validation can be called as an API call as well
Organisations can facilitate seamless customer on-boarding process
Fast and accurate- Less than a minute five step process
It can scale up the number of documents processed in a day
Organisation can significantly reduce the manual workforce
On-premise deployment is also possible to cover up the data security concerns
For demo, please email us firstname.lastname@example.org or call +91 94 00 74 74 84