KYC process automation for a banking client

banking-sector-kyc


Challenge

o Know Your Customer (KYC) due diligence has been a long-standing manual process in the banking sector.
o The client wanted to automate a large portion of this process, in order to reduce the repetitive objective tasks involved in the process.

Solution
o Bot was developed to capture key data from KYC documents submitted by the customer.
o Once data is captured, the bot was trained to perform due diligence activities by accessing browser-based applications as well databases.
o Post validation, the bot sends an email to the respective teams informing them of the result of due diligence. 

Benefits
o KYC due diligence process automation brought the process time by 5 mins or 30% per candidate. 
o On a monthly basis, this translated to a savings of ~400 hours or 50-man days.

Connect with us

Connect with us

Send Your Details For A FREE Demo

© Copyright 2023, All Rights Reserved by FinesseDirect