Banking and financial institutions face a great deal of hardship in ensuring KYC compliance to the continuously changing regulatory laws. Physical document collection and management, manual customer data extraction and updation to the core banking solution are highly error prone and time consuming. Usage of multiple software solution for scanning, document management, KYC management with no integration to the core-banking solution complicates the processes resulting in compliance breach so very often. Non-compliance to various standards incurs great revenue loss in terms of regulatory fines and diminished customers.
The need of the hour is a common digital platform to automate and perform the KYC processes online in a secured platform for refined banking processes and optimized end results.
An end to end KYC solution to digitalize the collection, verification and approval of KYC documents. It transforms the traditional KYC process with automated workflows, digital verification and real time re-KYC alerts for instant processing. The solution intelligently captures customer KYC documents and extracts metadata without manual intervention. With automated workflows, the verification processes are handled online with accuracy and efficiency. It integrates with other solutions and initiates automated updates to the core banking solution. It enables the stakeholders with complete visibility and transparency into the customer KYC for informed decision making.
Eliminates manual document scanning by the operations team by offering intelligent OCR capture and automated metadata extraction solution
Instant KYC management with quicker turnaround time resulting in satisfied customers and uninterrupted business process
Verifies customer information against all required parameters to avoid fraudulent practices
Replaces redundant paper based processes with compliance based KYC workflows for verification, approval and storage
