New solution saves at least 50 percent of employees time
Amsterdam, 20th December 2021 - Doculayer.ai, an Intelligent Document Processing (IDP) solution for analyzing and automated processing of document flows based on AI technology, now also enables significant acceleration of customer onboarding processes. By using Doculayer.ai, financial institutions, among others, can identify and verify their customers faster and easier for acceptance. By automating these usually manual processes, organizations can work more efficiently, avoid errors and save costs.
Consumers have plenty of choice in financial institutions that offer the same or comparable products or services. In addition to price, the customer experience provided is a crucial differentiator. Doculayer.ai is responding to this by using AI technology to optimize one of the first experiences customers have with a financial institution. It also contributes to digitization at institutions.
Before a bank or insurer can do business with a customer, it usually requires several documents for identification and verification, such as copies of IDs, pay stubs and other financial documents. However, after submission of the documents by the customer, most of the processing is still done manually. This leads to longer lead times and a delay in the onboarding process with obvious consequences for the customer experience.
Automate manual labour with machine learning
Doculayer.ai automates a lot of manual labour when processing documents as part of customer onboarding. In order to do this unstructured documents based on machine learning models are combined with logic and patterns and converted into structured customer data. This means documents can be processed at least 50 percent faster and with fewer errors, while costs are being saved.
Applying IDP for customer onboarding
With optical text recognition, Doculayer.ai first converts the scanned documents into editable text. Subsequently, the documents are classified by document type and it is checked whether the information is complete. The relevant data is extracted from the documents and automatically validated. The Doculayer.ai solution also takes into account the requirements of the GDPR by automatically anonymizing the personal data as part of the processing.
“For financial institutions, onboarding customers is a time-consuming task where accuracy and monitoring data quality are important points of attention. By automating this process, companies are able to improve these things and also scale up customer onboarding more easily,” said Richard Smit, CTO of Doculayer.ai. “By processing more requests in a shorter time, the customer does not have to wait as long and the organization can distinguish itself from competitors with a better customer experience. In addition, employees can focus on the more complex requests and providing service to customers. This makes retyping data from documents a thing of the past.”
Customer onboarding support is available immediately in Doculayer 2.1. Read our blog for more information.
Doculayer.ai is an Intelligent Document Processing (IDP) solution for analyzing and automated processing of document flows based on AI technology. Doculayer.ai ensures greater productivity and a better customer experience by automating document flows within customer-related processes. Doculayer.ai integrates seamlessly with business applications and processes in the existing IT landscape, and can therefore process unstructured information in existing systems. With this, the company is responding to the explosive growth of information and the actions required to process data correctly, in accordance with privacy legislation (GDPR).