AI (Artificial Intelligence) in KYC Automation: What Every Business Needs to Know

09 Mar 2020

Let us be straight to the point. We have been speaking a lot off the late about AI. AI (Artificial Intelligence) can totally change how banks perform hostile to anti-money laundering (AML) and know-your-client (KYC) consistence. Moreover, for the motivations behind enemy of illegal tax avoidance, artificial intelligence frameworks can mine massive volumes of information for chance applicable realities, improving the way toward distinguishing high-hazard customers.

Artificial intelligence is especially important when performing herculean assignments, sparing significant time, exertion and assets that can be pulled together on higher customer esteem errands. Artificial intelligence advancements including natural language processing (NLP) and Machine Learning (ML) together can make jump digitization across enormous pieces of customer life cycle management (CLM) in regions that are presently tedious.

Here are keyways by which simulated intelligence can help improve AML/KYC and customer onboarding processes:

Exact Customer Profile and Improved Due Ingenuity man-made intelligence can digitize the creation and refreshing of the customer chance profile and match this against the order procedure to guarantee proceeded with consistence all through the customer life cycle. Besides, KYC-based intelligence can make the way toward distinguishing high-chance customers significantly simpler for improved due persistence forms.

Overseeing Administrative Change and Consistent man-made intelligence's capacity to recognize designs in a huge measure of content empowers it to frame a comprehension of the ever-changing administrative condition. Besides, NLP can investigate and characterize archives, separating helpful data, for example, customer personalities, items and procedures that can be affected by administrative change, accordingly, keeping the bank and the customer fully informed regarding administrative changes.

An ongoing Dow Jones-supported ACAMS study uncovers that the territory of digitization is one of the most trying for bank vigilance groups. Supporting the old process with digital intelligence can bring about less bogus positives. While they are a huge piece of the AML consistence process, cautions are insufficient to help a compelling and careful examination process. What is required is the connecting of excellent information to the alarm (through translation and connection investigation) to deliver a precise, graphical portrayal of the lawful element structure. AI based intelligence can assist with utilizing recently performed steps in the ready examination procedure to figure a suggested subsequent stages approach. This is exactly what products like Accura Scan are designed to do i.e to establish a connect with customer and equally with banks.

At Accura Technolabs, it is our mission to replace the manual KYC onboarding. You can check out more information about us here

Unlock the True Identity of Your Users with 3D Selfie Technology

A simple selfie will do your customer verification and authentication. Accurascan authentication is a new 3D technology for preventing identity theft. Our Authentication captures hundreds of images of people when they take a selfie video to verify themselves during high-risk online transactions. Creating a 3D identity map that can’t be spoofed.

Identity Card Scan

Identity Card Scan

100% OCR Accuracy. Scans the ID Card, Auto fill and Verifying the Document

Face Match

Face Match

Matching the User Selfie with the photo shown in the ID Card.

Liveness Check

Liveness Check

Was the person himself present while doing the transaction? or submitting KYC doucments? or while opening the account?

Liveness Check


Accura Scan Identity Verfication gives result immediately in Real Time. Know your Real Customers

Trusted By The World's Best

Commercial Bank of Dubai
Ahli United Bank
Ahli Bank
Bank Nizwa
Gulf Bank
NEC Payments
T Mobile
Decurtis Corporation
Jose De Mello

Accura Scan Digital ID Verification & KYC

Real Time ID & Identity Verification, Digital KYC, AML Verification, Certified Liveness Check, Face Biometrics and Document Authentication Service. Make your Online On-boarding & User authentication process risk-free with Accura Scan.

Try Accura Scan SDK or WEB API For Free

Use our Developer Dashboard to get a 15 days FREE TRIAL License & Web Api Secret Key. Access to Trial License Keys and GitHUB Repository. No credit card required.