Insurance: Document Recognition

Digitise KYC documents and reduce compliance risk

Challenge:

Digitize KYC documents and on-board customers faster

Business Goals:

+ Reduce manual work required to digitise forms 
+ Flag cases with missing critical information

Solution:

Although internet has taken over the world, KYC processes are still lagging behind and completed manually. This creates bottlenecks in customer on-boarding, leading to a less impactful on-boarding experience. 

Most of the customer records are still in paper form due to regulatory reasons and thus on-boarding customers takes an extra step to digitise documents manually. Not only is this slow, critical data is sometimes lost due to human error.

Arch creates custom OCR modules that fit right into your on-boarding process and makes digitisation seamless. It creates alerts for unclear or missing data, where your team can follow-up with the customer, thus avoiding compliance issues later on. Moreover, it makes customer data available to rest of your team by updating the central database. 

Benefits:

+ Reduce time to digitise documents

+ Lower cost of data entry operation

+ Smart alerts for missing or unclear data

+ Data made discoverable faster

Would you like to start a project with us?