A banking client implemented an AI-powered KYC automation solution to streamline their manual KYC processes across 13,000 global branches, drastically reducing document processing time from 18 minutes to under 1 minute. The AI engine automates document uploading, classification, and scoring, allowing the bank to handle over 0.8 million KYC documents daily while reducing manual resources by over 6,000. Key features include visual recognition, biometrics, and a secure data management system, ensuring compliance and efficient operations.

1. KYC automation using artificial intelligence
(AI)
Case study
Context:
A banking client was looking for solutions to
seamlessly integrate central KYC banking
operations as part of their digital automation
initiative. With over 13,000 bank branches
operating globally, their manual and multi-step
KYC process provides an intriguing opportunity
for banks to automate their KYC services.
Recommended configuration:
• The AI-powered KYC engine allows the bank
to integrate the KYC processes into a four-
step process by automating the uploading
process, as well as the classification and
scoring of KYC documents.
• Scanning all the customer’s documents,
such as proof of identity (POI), proof of
address (POA), account opening form (AOF)
and client information sheet (CIS),
collectively in a single go ensures all
documents are correctly tagged to a
specific individual so as to ensure the
overall accuracy of the KYC documentation
results.
Client impact:
• Bank can facilitate a seamless customer
onboarding process with fast and accurate
KYC processes.
• The time to process a client’s KYC
document had been reduced from an
average of 18 minutes to less than an
average of 1 minute.
• It increased the KYC processing scale to
over 0.8 million documents a day.
• Automation of processes reduced over
6,000 manual-resources across the
organization.
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Challenges faced by central bank branch
Enabling fully automated central
KYC processes
Ensuring accuracy and reliability of
KYC documentation
Unifying data from multiple sources
into a single data lake
Maximizing banking operations
utility and efficiency
Reducing manpower overhead cost
Minimizing labor intensive
processes
Varun Mittal
EY Global Emerging Markets FinTech
Leader
varun.mittal@sg.ey.com
Leading-edge tech capabilities
• Visual recognition of
ID
• Face biometrics
• Data extraction from
documents
• Storage of sensitive
documents
• Executed
transactions audit
trail
• Secure sharing
• Fast querying across
large datasets
• Efficient mapping for
faster lookups
AI Cryptography Big data optimization
Features of fully automated KYC solution
Core AI engine custom-trained on the
basis of bank’s own data
Computer vision capability for object
detection, OCR, intelligence character
recognition (ICR) and so on
Biometrics capability for face
recognition
API capability for handling different
applications at massive scale
Final output is
completely KYC
compliant and stored
securely
Fully automated KYC solution powered by AI
All documents
of customer
are collectively
scanned in a
single go
Only a single
scanning is
required for all
documents
AI engine sorts
and tags the
different
documents
Output is
generated in
central KYC
format
In less than a minute
Website: www.ey.com/sg/fintechhub
Email: fintech@sg.ey.com
Sahil Gupta
EY ASEAN FinTech Manager
sahil.gupta@sg.ey.com

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