Automated KYC processing with AI OCR | Document Verification with OCR Technology
Automated KYC processing with AI OCR | Document Verification with OCR Technology

KYC is the ‘in-vogue’ TLA (Three Letter Acronym) for ‘Know Your Customer (or Client)

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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.

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 have developed two key technologies, both AI-based, for assisting with this process.

vInnovate Technologies have developed two key technologies, both AI-based, for assisting with this process.

vDigiDocr, described in this section of our web site, 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.

As described elsewhere in this section, having completed the transformation, we can supply routines to 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 which together offer possibly the most powerful all-embracing KYC system available anywhere in the world. You can read more about versaChat-AI.

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