MLAI Digital Pvt. Ltd.

AI Powered KYC solution for BFSI

An AI-powered KYC (Know Your Customer) solution for the BFSI (Banking, Financial Services, and Insurance) sector automates the customer verification process, enhancing security and compliance. It uses advanced technologies like OCR for document verification, NLP for analyzing customer information, and AI for anomaly detection. This ensures accurate, real-time validation of customer identities, reduces fraud risks, and speeds up onboarding. AI-powered KYC solutions also adapt to regulatory changes, ensuring institutions remain compliant while delivering a seamless and efficient customer experience.

What is KYC Solution

    Using OCR,RPA and Azure cognitive services, they wanted AI tool to :
  • Capture client details in form
  • Capture supporting KYC docs
  • Validate Docs w.r.t form details and from gov libraries
  • Score each doc field-wise and give an overall score for each customer
  • Update ERP via API for valid entries
  • Communicate stake-holders

Benefits Of KYC Solutions

  • Efficiency : reduced costs , quick turn-around with lesser human resources
  • Fraud prevention KYC fraud detection
  • Faster and Smoother onboarding
  • Improved Accuracy
  • Enhanced security: AI helps detect fraudulent activity by analysing customer data and
    transaction patterns. Helps prevent financial crimes
  • Better customer experience = Competitive advantage