Avoid the possibility for fraud by identifying edited bank statements, falsified revenue tax documents and falsified microlending application documents.
The financial services industry encompasses many types of businesses involved in managing money and plays a vital role in the world’s economy. The industry is vast and includes companies engaged in activities such as investing, lending, securities trading and issuance, asset management, advising, accounting, insurance and foreign exchange.
To stay competitive in this industry, service providers must gain loyal, satisfied customers. Gaining a satisfied customer in this digital age is challenging. Hence, it is most important to have a deep understanding of your customers to ensure customer satisfaction and compliance (KYC – Know Your Customer). Owing to all these, personalised service has become the key focus for any business. By having a single platform that combines data exploration and governance as well as provides access, integration, and storage scalability, businesses will be able to effectively draw insights from this large amount of data to drive revenue.
Technology is the key to unlocking this view. An added bonus of using a dedicated and holistic document management system is increased security. AI advances in the automated identification of both structured and unstructured documents allows for a significant reduction in fraud by identifying edited bank statements when applying for credit, falsified revenue tax documents, falsified microlending application documents etc. This is achieved with high quality image generation and intelligent capture software.