The digital world of today is rapidly increasing. Every year, more and more commerce is conducted online. This can open up new business prospects for you, but it can also expose you to new hazards. Criminals and fraudsters are continuously hunting for weaknesses in your security, and their attacks cost you more than simply time and money.
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Prospective clients, who are confronted with ever-increasingly difficult and time-consuming situations, Prospective customers, who face ever more complex and time-consuming onboarding and security checks, often abandon the process in frustration.
Know Your Customer (KYC) has become an industry standard for making sure that people are who they say they are. While the scope of KYC is constantly expanding, ID verification is still a crucial first step in all of the various processes.
Instant Customer Identification for KYC
Mobile OCR is a technology that can be added to any mobile app or any website. With OCR-enhanced mobile scanning, you can scan codes, numbers, and text in an instant. On top of that, Pixl.AI has adapted mobile scanning technology to scan IDs & passports as well as bank cards and other documents.
In this article, we outline how mobile scanning with OCR technology is the perfect tool to improve your KYC processes.
How we can help your business
- Customer Onboarding
- Age Verification
- Fraud Prevention
- KYC Automation
This is one of the fastest ways to complete onboarding processes and to digitize customer details for further use in your databases and backend systems. Real-time scanning of IDs for KYC processes removes manual data entry and typing from your customer onboarding.
In addition to being instant, mobile ID scanning is accurate. Pixl.AI was found to have a +99% scan accuracy. This is far more accurate than manual data entry or typing processes because mobile OCR is never affected by fatigue, stress, or distraction the way a human being can be. Accurate data is crucial for Know Your Customer to work successfully. On top of that, you should also know that having inaccurate data can cost you money, and make it much harder for your management team to make business decisions.