On May 29, the Reserve Bank of India updated the master direction on KYC guidelines for regulated entities. The updates in the KYC process were mainly targeted at adhering to the Aadhaar and Other Laws Ordinance that was passed by the Cabinet in March 2019.
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On May 29, the Reserve Bank of India updated the master direction on KYC guidelines for regulated entities. The updates in the KYC process were mainly targeted at adhering to the Aadhaar and Other Laws Ordinance that was passed by the Cabinet in March 2019.
So we launched an Ai-powered Aadhaar Masking solution processing solution to identify, extract, validate and mask Aadhaar details and aid in efficient digitization of end-to-end Aadhaar-based processing. Aadhaar continues to be the commonly submitted document in the KYC process. Financial Institutions now need to mask Aadhaar numbers on all the customer images that they store.
Pixl's Automated Aadhaar Masking feature can partially or completely mask the Aadhaar number on an image in real-time. This has been part of our Fintech Platform since April 2019 and can be used for all new and existing customer records.
Our Solution assesses the quality of input documents, extracts relevant information from Aadhaar, validates the Aadhaar details with external UIDAI Authentication API, and also does full or partial masking of the Aadhaar number, as needed for compliance.
The solution masks the first eight digits of the Aadhaar number, leaving the last 4 digits open, and can also run as a real-time API or in bulk processing mode on the stored documents.
Our solution includes pipelines of computer vision, NLP, machine/deep learning, and OCR. It can process over 500 document types in 87% less time and a 98% accuracy rate. The solution also identifies the Aadhaar Pattern across the document in a contextual way. With digital operations becoming more common after the pandemic, such automation products are in high demand.