Fintech Company
Breaks the Scale Barrier
with DocDigitizer

Indexa Capital is the leading automated investment manager in Spain since 2015, with over 1.3 billions euros of assets under management (AUM) from more than 55 thousands clients, while growing more than 100% annually.

Indexa offers portfolio management with index or pension funds, global diversification and radically lower fees (average management fee 0.20%). Indexa is a Fintech project founded by renowned experts in markets, investment and Internet businesses with has first class advisors.

To grow at such a fast pace, Indexa needed a fast and accurate onboarding workflow for new clients with the capability to process multiple IDs from multiple countries and multiple bank documents with varying degrees of quality. This required thousands of hours a year from their team with the added risk of human error.

With DocDigitizer, Indexa now has close to real time information extraction from multiple documents with near zero error in full automation, removing any growing limitations caused by document volume.

Indexa Capital is growing at over 100% a year. Such a fast growth creates constraints and the need to review procedures and information flow to keep up the pace and maintain service quality. The Management team and IT team analyzed the process and identified bottlenecks.

The company’s fast growth was limited by the document verification stage. New clients needed to send proof of ID and proof of bank account by submitting images of the documents, at which point the data was extracted into forms.

New faster and more accurate ways of extracting the information so it could be matched was essential, but the difficulty was finding a solution that was agile enough to deal with multiple document formats, fast at returning information and highly accurate. Also, the time to go live had to be short, the number of new clients was surpassing 1000 new requests per month, and this was a serious strain on the validation team.

The team started a market consult with live trials and chose DocDigitizer.

When consulting the market, the team had to choose between a heavy implementation effort and limited elasticity or quicker implementation times with lower accuracy and even less elasticity. The variety of document layout from which to extract information was something that required most market options to go through an extensive process of training before it was even possible to run a proper trial.

For the trial to run, it was required that:

• API integration was not just possible, but fast and accurate
• A new document source was defined
• Information was extracted with precision
• Extracted information was returned quickly
• New documents for extraction were seamlessly integrated
• Customer support was agile and responsive

Indexa Capital proposed the test case would involve data extraction from a Spanish ID card. This document would be photographed and then data would be extracted from the image.

DocDigitizer was up to the test from the first moment since it required no integration to run a proper trial. Nonetheless, for extra security, DocDigitizer choose to do a simple integration as it would create a scenario closer to real usage.

Another positive surprise was the agility of the solution and the cooperation of the Client Support team, who were very cooperative in making all the necessary adjustments.

The trial showed that, with DocDigitizer, it was possible to have close to real-time information extraction and processing with near zero error at a representative lesser cost

Indexa Capital started to use the platform to extract information from a single document type, which rapidly expanded to multiple document types and information validation.

What started as a single use case has grown into a full document validation solution with full integration supporting multiple documents.

The agility of the solution allowed for further integration, including new documents such as IDs from other nationalities and bank statements from different banks.

Indexa Capital is now running a full power solution that validates image quality, extracts the required information, and returns business intelligence that allows for faster, self-service automation of client onboarding.

DocDigitizer’s unmatched solutions were adapted to Indexa Capital’s needs and grew as fast as needed to keep up with client growth without further setups, installations or interventions on the client’s side.

This was only possible thanks to DocDigitizer’s near zero error output and speed with close to real-time responses.