A Non Banking Financial Company (NBFC) is engaged in the business of loans and advances, acquisition of shares, stock, bonds, hire-purchase insurance business or chit-fund business. All these businesses of NBFC require a thorough KYC check done to know the Customer. Manually entering the data from the respective forms and then validating with the KYC takes a longer process. Autorec automates the entire Business process by auto extracting the data from the respective documents and auto validating between two documents to check for any kind of discrepancy or fraudulent activities.
• Auto Classifies the Documents such as Pay slip, Bank Statements etc. from multipage TIFF or PDF Files
• Auto Captures Data points from structured, semi-structured and unstructured documents through OCR Technology.
• Applies Business specific rules and validates the data between the Application form and the KYC’s for any kind of discrepancy or fraudulent activities.
• Integrates with any API on the same platform.
• TAT reduced by more than half
• FTE reduced by 70%