February 13, 2023
2 Mins read
Identity verification has increasingly become a standard practice in many firms. Businesses need a mechanism to verify that their existing or potential customer with the KYC process i.e Know Your Customer. This is common in many various sectors, including banking, telecommunications, travel, retail, and more. The Manual KYC verification process has increased instances of identity theft and fraudulent hacks, inaccurate data, and lengthy onboarding process.
This increased reliance on mobile technology has paved the way to adopting smart KYC processes in firms that capture customers’ IDs and retrieve their personal information right from their smart devices. This process is quick, more secure, and lowers error rates.
Smart ID scanning for KYC verification
Scanflow smart ID scanning software makes the KYC process simpler and paperless while capturing data from customer IDs with high security along with the ability to capture data without the need for an Internet connection.
Automated data extraction helps banking and financial services can collect the necessary personal data while interacting with consumers in a faster, more convenient manner. Mobile and digital processes have seamlessly become a part of everyday life and ubiquitous devices like smartphones help workers and customers to carry out operations more efficiently from their familiar devices.
Scanflow high-performing ID scanning SDK can be integrated into any smart device and capture information from identity documents. Scanflow ensures a safe and secure scanning solution.
Scanflow ID scanning SDK works on native mobile apps, web browsers, or any enterprise framework that helps to digitalize and automate procedures. It reduces the threats of identity fraud and data breaches and provides a secure customer onboarding process.
3 ways smart ID scanning supports KYC process
1. Streamlines data collection process
With smart ID scanning the data collection process is streamlined by lowering the difficulty users have updating or submitting their personal information. It provides cleaner, more precise data that satisfies the regulators. ID scanning improves the data quality and lowers error rates, making monitoring systems more reliable.
2. Driven by AI technology
Built with AI-powered technology, Scanflow ID scanning software is much more accurate at identifying and categorizing data in real time. It works in any challenging environment and is never stressed out, unlike manual processes. It serves as an ideal solution for banking and financial services that would extract crucial data points from identity documents while maintaining high accuracy levels.
3. Enhanced customer experience
Smart ID scanning engages customers with quick and more convenient interactions while collecting necessary personal information. This quick process makes customers to be relieved to have avoided standing in a long line at the branch which saves them time.
Smart ID scanning is all made possible by a single user-friendly mobile solution, providing clients and end users with a higher level of protection. The most significant benefit of all is that it establishes trust and solidifies the crucial relationship between businesses and individuals.
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