Digital Intelligence for Financial Services

KYC compliance

ABBYY Digital Intelligence solutions can help financial institutions define their KYC plan and put it to action. Finance crimes, such as terrorist activity, money laundering, and fraud, most often occur through fooling the bank’s processes or with suspicious, irregular documents. ABBYY offers a uniquely suited and comprehensive approach to getting on top of KYC called Digital Intelligence. Since KYC/AML breeches can be detected through questionable interactions between customers and the bank, identifying and understanding how and where those interactions engage processes and use suspicious content is a critical first step to addressing them.

ABBYY’s Digital Intelligence platform offers many core capabilities for KYC, including Process Intelligence and Content Intelligence solutions that can be targeted specifically at key areas of vulnerability.

Delivering account services

Digital Intelligence solutions enable you to create seamless interactions for customers and employees by implementing mobile and remote apps to automate processing of essential documents.

By using ABBYY’s low-code mobile apps for onboarding, credit and loan processes, customers can easily and remotely capture required identification and documentation, extract and validate the data, and send it to applications and systems. This means that application forms (including those with hand-printed data), along with their required complementary documents such as ID cards, proofs of residency, employment and revenue certification, can be captured from any device, wherever the customer is.

Improve customer service and increase efficiency with automated customer onboarding via contactless mobile interactions

Automated content analytics can be applied against a range of customer and public data to gain a deeper understanding of both individuals and businesses. Examples of data sources include:

Mortgage loan processing

ABBYY helps lenders streamline mortgage loan processes by transforming these notoriously high-volume document-intensive processes into easy and efficient flows, using Process Intelligence, target scanning, OCR, and verification of all loan documents at the point of entry via a single web-based interface. A typical loan folder consists of various document types with an average of 100-200 pages in total. As operations in this area are so document-intensive, streamlining the loan application and approval process with automated document classification and extraction is key to improving the customer experience. Captured data is transferred to a scoring system that provides information on a client’s credit worthiness and makes recommendations whether to authorize the loan, ensuring the accuracy of the client’s information for determining loan terms.

Mobile capture allows customers to deposit checks from anywhere through input devices including smartphones and tablets. Automated and centralized processing of checks with verification against customer information reduces error-prone and slow manual processing and speeds time to payment.