Whether the customer is opening a new bank account, or taking a loan, or renting a new apartment, several documents are usually required.
For a physical person, the process requires an identity document, proof of address, payslips, tax notice, and account statement.
For corporations, the process requires the company’s certification of incorporation, documents of the legal representative and the company’s shareholding profile.

Depending on the company sector, several regulations (AML, Tracfin, …) are in force in order to ensure a trusted relationship. They involve customer identity and record verification to reduce the risk of fraud as identity fraud for example and issue of solvency.

When it comes to onboarding a customer, the company wants to make sure that his profile (identity, documents, etc.) are truthful. Therefore, they perform analyses and checks. Artificial intelligence (AI) and Machine Learning allow you to analyze them automatically and in real time to accelerate the customer journey and internal processes. AI ​​is able to read a document, extract the data, verify each piece of information individually and cross them.

Manual processes and human eyes are not able to detect all the modifications that have been made to a document. By verifying the customer record using AI and more precisely intra and inter documentary checks, as well as querying external data bases, you increase the chances to detect document modifications, false and wrong documents and so on. Risks are reduced and your relationship is reliable!