Nowadays, betting on digital customer onboarding solutions is an interesting opportunity for banks. We will revise the main reasons for which financial institutions should focus on mobile identity verification.
In this third post of the series dedicated to the contribution of Addalia’s solutions to credit institution’s legal compliance, we will focus on how Iddiligence deals with the client validation process.
Bureaucracy is a curious two-way street: just as it is necessary for the proper functioning of the public sector and of many (or all) of companies, its also a nuisance for the users and for the employees which have to manage it. Handling tens of thousands of documents every day, as the bank does without going any further, is a process with no added value in itself which supposes a real cost in time and resources for the institutions themselves.
The concept of identity is undergoing a vertiginous evolution with the appearance of technological solutions such as Internet, smartphones, social networks, etc. in which the current society is absolutely immersed.
Validating legal or financial documents isn’t an easy task for companies which must deal with thousands of ID cards, payslips, payment receipts, direct debits, driving licences or tax declarations.
Managing the most basic administrative processes in banking, such as opening an account, are carried out exclusively by humans, bearing in mind what this entails when it comes to agility and potential errors. The automation of all this workflow, throughout RPA technologies, promises to resolve this problem.
On the previous post we explained what compliance, KYC (Know Your Customer) and Digital Client Onboarding are. Now we will go explain in depth how are they related.
A company dedicated to finance for final consumers in a distribution chain, implemented IDDILIGENCE to automate and improve the quality of credit data of their customers.