KYC Processes

The process of opening a bank account requires proper due diligence. The customer must provide a multitude of documents like ID or proof of address. While some documents are fairly standard, others can vary widely. Proof of address could be a utility bill from a large range of possible providers.

 

The validation of those documents’ data is still a lengthy, time consuming, and old fashioned process in a vast majority of banks, insurers, or financial organizations. FinTechs are taking this opportunity to attract a large percentage of the younger demographic who demand a fast and simple onboarding process.

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In Action

DocDigitizer can extract the relevant information from ID documentation as well from less structured documents used for proof of address and source of funds like invoices or income/tax statements.

 

DocDigitizer can process information from our mobile app or via email and deliver structured data. This enables an effortless customer experience when opening a new bank account or applying for a loan online.

Impact

DocDigitizer has enabled banks and insurers to:

 

  • Better compete with novel offers from FinTechs;
  • Adjust to the expectations of millennials and Generation Z;

In Action

DocDigitizer can extract the relevant information from ID documentation as well from less structured documents used for proof of address and source of funds like invoices or income/tax statements.

 

DocDigitizer can process information from our mobile app or via email and deliver structured data. This enables an effortless customer experience when opening a new bank account or applying for a loan online.

Impact

DocDigitizer has enabled banks and insurers to:

 

  • Better compete with novel offers from FinTechs;
  • Adjust to the expectations of millennials and Generation Z;