KYC Hub’s Optical Character Recognition (OCR) technology can help companies dramatically reduce the time and effort required for document processing. By automating the extraction of textual data from ID’s, trade-related documents like invoices, bills of lading, & letters of credit, OCR technology minimizes manual data entry errors, accelerates the verification process, and enhances the overall efficiency. KYC Hub’s IDP system can process documents consistently following the same set of rules & guidelines regardless of the volume or variety of documents.
KYC Hub’s IDP solutions combine OCR technology with Artificial Intelligence (AI) and Machine Learning (ML) to further improve data extraction accuracy from various documents. By identifying patterns and understanding the context of the information within the documents, IDP can accurately classify, extract, and validate data. This allows for companies to speed up verification and transaction processing, reduce errors, and mitigate the risk of fraud.
KYC Hub’s IDP solution can be integrated as an API or iFrame into any part of the user journey. This means that businesses can seamlessly integrate IDP into their existing systems and workflows, without having to overhaul their entire process.
What separates KYC Hub’s Intelligent Document Processing (IDP) solutions from the others in the market is the specialized focus on document forensics for IDs from over 200+ countries. This not only leads to easy verification, authentication, and onboarding of global customers but also reduces the risk of fraud and identity theft.
KYC Hub's Intelligent Document Processing solution seamlessly integrates with pipelines for OTP and ID verification, enabling automatic detail population for a streamlined verification process. This time-saving approach benefits both businesses and customers alike.
KYC Hub’s IDP offering can quickly scan, extract and process data from various types of ID verification documents. Its enhanced accuracy ensures that information collected is reliable and accurate. It can be integrated with other systems through APIs to automatically cross-check and validate the extracted data against trusted resources thereby providing an enhanced customer onboarding experience.
Timely and automated extraction of critical data from various identity documents reduces manual errors and ensures that only accurate and up-to-date information is used to assess risk profiles. KYC Hub’s Intelligent Document Processing tech. can identify potential fraud indicators and even flag suspicious documents. Coupled with enhanced compliance management, KYC Hub ensures that customers are able to meet regulatory requirements effectively.