NavBot - KYC Processing
Business Problem
Industries such as Banking, Insurance, and Microfinance need information about their customers as part of compliance. This process is known as KYC(Know Your Customer) which involves the collection of various documents such as Aadhar ID, Voter ID, Driving License, etc. Typically the operations team manually extracts the information from the documents and inputs it into their CRM systems for various processes. Owing to high volumes this leads to a higher TAT(Turn Around Time), manual errors and delays.
Business Challenges
Increased Error Rate
Increase in Backlogs
Data Transparency issues
What does the KYC Processing Bot do?
This software robot named Nav Bot – KYC Processing manages the MIS Data entry that is been done over the years by a Micro Finance Company. It handles over huge volume for extraction of KYC details from Unstructured KYC documents in the form of .Jpeg or .png formatted images with Intelligent Optical Character Mechanism and proceeds for Data Entry.
Benefits
Increase in Operational efficiency
Enhanced data collection
Increase in Data Accuracy
