Transforming KYC Document Processes with Intelligent Automation
Client on-boarding is becoming increasingly complex, with financial institutions spending exorbitant amounts of time and money manually processing checks. So how can your KYC document process be conducted accurately, efficiently, and without adding extra weight to your team’s workload?
Intelligent automation for KYC processes includes:
- Eliminating Data Entry (process documents through an intelligent OCR (optical character recognition) model to extract the key data fields)
- Reducing Errors (perform ETL (extract, transform, load) on key data fields to normalize the data)
- Improving Reporting (update the calendar of the account manager to re-assess the account based on the expiry date of all processed documents)