OCR-based Document Verification for Digital Customer Onboarding Process |KYC processing with AI OCR


Know Your Customer

In many businesses and organisations, gathering information about customers or clients, both current and prospective, is an essential part of the process. Sometimes, obtaining and verifying this information is mandatory or even a legal requirement. In other cases, it is seen as part of the process of customer/client profiling for marketing purposes. vInnovate Technologies has developed two key technologies, both AI-based, which can be deployed individually, or together, to provide a comprehensive solution for the whole KYC process.

Customer vInnovate Technologies

vDigiDocr is a state-of-the-art system for processing both printed and electronic documents and converting them to digital format for storage and analysis. The types of original documents which can be handled include printed and electronic text, handwriting, graphics, photographs, photocopies, screenshots, etc. The software can be ‘trained’ to automatically recognise certain types of format, for example passports, driving licenses, birth marriage and death certificates, bank statements, invoices, ID cards, etc. Then, automatically, extract and transform only the required information.

Having completed the transformation, vDigiDocr can deploy routines which use the data in a variety of ways to progress applications, carry out facial recognition, and trigger additional processes such as creating appointments, requesting missing information, moving applications through to the next stage, etc.

In this latter area, the second KYC AI technology, our Digital Assistant ‘versaChat-AI’, offers extra functionality and capability.

versaChat-AI is a powerful, flexible, configurable ‘Digital Assistant’ which can operate as both the ‘front end’ and the ‘process manager’ for your KYC system.

versaChat-AI is a chatbot with a difference - in fact several unique differences.

  • Firstly, it is not just a product. It is a configurable solution to each client’s individual needs.
  • It can operate in many languages
  • It can solve problems
  • It can carry out tasks
  • It can ‘think’ for itself
  • It can ‘learn’ from its interactions with your clients who may use unfamiliar ways of asking for help.
  • And, as if that wasn’t enough, it can ‘look both ways’; ‘outwards’ into the plethora of online information’ and ‘inwards’ through connections with your own internal data systems.

This last ability can be key to the deployment of versaChat-AI in a KYC situation. Not only can it be connected to your own internal systems to offer specific help, advice and process support, but it can, if required, look beyond your organisations walls to consult with specific sources of background information. It uses an Open-Source RASA framework with micro-service architecture. This makes it scalable and allows the bot’s services to be created gradually over time for the whole organisation.

In managing your KYC requirements, versaChat-AI can be ‘taught’ to follow your procedures and legal requirements, but can also be relied upon to handle unfamiliar situations, languages and client responses to ensure both client satisfaction and procedural compliance. In the event of an impasse with a particular client, it knows how to handle the situation with tact and diplomacy, and how to escalate the matter to a human colleague. And it delivers this service 24/7, without breaks or holidays or a salary!

You can read more about these cutting-edge applications in the ‘Products’ section of our web site.