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AI solution by KBQuest
Customer Story
A Money Lending Financial Institution
Lending Experience Acceleration
Data ingestion and analysis for faster lending experience
Banking, Financial Services
Customer Journey, KYC
Business Need
Customer experience is always a top priority for any business. As the portfolio of personal and SME loan products continues to expand, the financial institution receives a high volume of loan applications every day. The time it took to manually review and handle the applications lengthened the customer journey and slowed down the decision process.
Our Solution
With the implementation of Ai-Knowie, application documents including personal information, bank statements and other documentary proofs are ingested and digitalized with AI-OCR. Ai-Knowie extracts and analyzes key data from documents using Machine Learning in order to analyze transactions, automate risk scoring predictions and provide insights for loan assessments.
Business Impacts
Handling loan applications is no longer a time-consuming and labor-intensive process. While customers of this financial institution enjoy a better customer journey with 60% shorter turnaround time and instant service, the brand improves its competitiveness as well as customer loyalty with improved operational efficiency and scale.