With an increasing number of technology-driven products and services being introduced to the market, the overall customer experience and engagement with companies has changed dramatically. More than ever, today’s customers are looking for intuitive applications and processes that can be completed within a few clicks. All digitally, of course. In this blog post, we will dive into how the KYC process and customer-onboarding can be automated, to save you time and money.
KYC regulations mandate that businesses and financial institutions, such as banks, gather and process the customer's information to assist in the identity verification process. Customers' documents are the ideal source of information to check their identities, so businesses are naturally the most adept at acquiring information from their customer documents.
OCR technology is used as part of online document verification services that automate document analyses with artificial intelligence. KYC information verification solutions are used by banks in several countries. An automatic template matching system enables faster and easier verification of identity documents. This is made feasible by OCR technology, which scans identification documents and extracts the users' personal data. Intelligent Document Processing is a collection of OCR that is strongly augmented by machine learning, natural language processing, computer vision, and more. OCR assists processing the large amount of unstructured data and subsequently producing accurate details for efficient use of digital technology.
Pixl's OCR API receives a scanned copy of an identity document. Once the scan is received, the photo is converted to a raw text file, which is a computer-readable version of the identity document.Our deep learning algorithm interprets what the data signifies and returns the respective personal data of the relevant database in a structured JSON file. Without any assistance from humans.
Try out Our OCR solution for IDs if you are still processing large numbers of documents manually. In order to save you and your clients significant time and money, it is our goal at Pixl to assist in reducing manual intervention in critical business operations. We designed a biometric identification API that can be utilized in any third-party application and any existing identification procedure. To take the first step is to utilize our well-structured API documentation.
Extracted Data uncategorized and unfiltered data extracted from the ID card. This is done by OCR technology. Data from documents are retrieved, including name, date of birth, date of issuance, address, height, gender, and eye color.The categorization is great when the amount of data is hundreds and thousands. With OCR and OCR ID Template technology, Pixl KYC can not only extract data but also can categorize and process the data in a very short amount of time. This supports our KYC process with speed and accuracy. Pixl KYC supports global KYC and AML Screening. We support more than 210 countries, so identify your global customers any time at anywhere. Argos KYC got you covered!. While the data is large With OCR and OCR ID Template technology, Pixl KYC can quickly extract, classify, and process data using OCR and OCR ID Template technologies.
To extract information from documents that were scanned in low light, one can use Pixl's OCR-based document verification service to get the most out of OCR for business from Pixl, businesses are recommended to connect it with their AML compliance systems. Enterprises all across the world manage the regular data extraction and processing operations.
Pixl 's OCR for Business integrates AI to convert images into text files without delay. The solution pulls out information from all kinds of documents, ranging from handwritten, business records, and invoices, etc. Pixl's OCR supports more than 150+ languages with worldwide coverage. With a rating of 90% or better, online companies are able to efficiently process customer data.
Contact our experts to learn how OCR might help your company.