Automated KYC Processing Solution
Automated KYC Processing Solution
With the advent of Robotic Process Automation, organizations seek to reduce costs, improve efficiency and re-duce process turn-around-time. Processes with high manual intervention, such as KYC Processing are highly suitable candidates for automation. KYC processing is largely labor-intensive. The delay in KYC processing not only delays the process of on-boarding new customers but also results in delayed revenue realization from the new customers.
Key Challenges: KYC Processing
Customer On-boarding
Compliance Regulations
Accuracy
With KYC processing being highly labor-intensive, it results in innumerable delays in on-boarding new customers and revenue realization.
With multiple compliance regulations, it’s difficult to be compliant with regulations while processing KYC documents within the desired timeline
With a stringent timeline and a high degree of manual processing, maintaining the accuracy of KYC processing is a great challenge. With volumes increasing each day, maintain the levels of accuracy is becoming more challenging each day
RPATech brings automation to Invoice ProcessingKYC
Our solution has been designed to automate KYC document processing to ensure quick on-boarding of customers. Our solution can extract relevant data from the KYC documents with a high degree of accuracy and either match it with the data provided by the customer or verifies data with various portals to ensure the authenticity of the data.
Our KYC Solution ecosystem not only supports various mandated KYC documents but also variations in those documents. Our solution uses highly accurate data extraction tools provided by
Benefits
Improved Accuracy
Quick Onboarding:
Audit Trail and Governance
With minimal human intervention, accuracy is increased by 95%
Multi –times faster customer on-boarding
Complete audit trail of invoicing steps for tracking and governance
Compliance Management
Quick ROI Realization
Compliant with KYC, AML and such other Regulations
With employees focused on value-driven tasks and less spend on expensive multiple CRM licenses, typical ROI realization is less than 6 months