This paper is published in Volume-7, Issue-2, 2021
Area
Product Management
Author
Linus A. Xavier
Org/Univ
Subex Limited, Bengaluru, Karnataka, India
Pub. Date
12 April, 2021
Paper ID
V7I2-1350
Publisher
Keywords
Digital Onboarding, Machine Learning, Document Verification, Facial Biometric

Citationsacebook

IEEE
Linus A. Xavier. Digital onboarding for banks & financial services, International Journal of Advance Research, Ideas and Innovations in Technology, www.IJARIIT.com.

APA
Linus A. Xavier (2021). Digital onboarding for banks & financial services. International Journal of Advance Research, Ideas and Innovations in Technology, 7(2) www.IJARIIT.com.

MLA
Linus A. Xavier. "Digital onboarding for banks & financial services." International Journal of Advance Research, Ideas and Innovations in Technology 7.2 (2021). www.IJARIIT.com.

Abstract

Since the onset of COVID-19 in the year 2020, organizations across the globe have been forced to do business with minimal human contact. Global fin-tech & banking industries are no exception. Fin-techs are leveraging this opportunity to eat into the business that traditional financial organizations, as well as banks, had previously taken. It’s becoming essential for banks, and traditional financial services organizations to move onto digital processes, digital customer onboarding being a critical piece of it. Regulatory KYC processes make onboarding a tricky affair. However, today’s digital ecosystem and advancements in CV & AI allow financial institutions to onboard customers with zero human interaction in most cases.