18 Jul The Future of Banking with KYC Automation
The recent years brought a lot of challenges and changes to the bank sector.
The Future Of Banking With KYC Automation
On the one hand, the risk and cost of capital remain on the shoulders of banks. On the other hand, their relationships with customers have begun to be shared with a set of third-party providers, commonly-known as Fintechs.
Fintechs are creating new and more digital experiences, thus dramatically changing customers’ expectations towards banks.
This new reality pushes digital transformations forward, but due to banks size and conservative nature, most are failing to keep up the pace of digitalization.
One may argue that none of these Fintechs, by themselves, will be able to challenge the status quo. However, as in many other fields, legislative changes and the customer base adopting new technology will definitely make life hard for banks that don’t adapt to this new paradigm.
The new digital ecosystem is not static, and agility will be the core of competitive advantage.
Moreover, there will be a natural tendency for the Fintech market to become more concentrated through partnerships, merger acquisitions, and common investors leading the groundwork for the creation of big techs.
“At DocDigitizer we believe that automation and digital transformation will be central for the future of banking“João Fernandes, CEO of ODYSAI
Following this strategy, we recently closed a global partnership agreement with LOQR and Infosistema to power financial KYC and onboarding processes with a focus on 3 main vectors:
- Security and compliance – Supporting fully compliant and secure contract signing and digital identity validation.
- Digital customers journeys supported by low-code technologies – Providing the ability to develop omnichannel systems of engagement quickly.
- Automation – Introducing DocDigitizer as a way to automate document validation and data capture.
Together, we are creating the next generation of banking experience and deploying not only the best customer experience across the digital channels but also ensuring the optimization of back-office operations.
So The Real Question Is:
Do you want to be on the right side of innovation?
Start now your digital transformation!