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KYC Document Verification with Extract

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Challenge


Traditional KYC processes are slow, manual, and error-prone—requiring human reviewers to parse unstructured documents like scanned IDs, utility bills, and customer-submitted forms. This manual burden creates bottlenecks in onboarding, increases compliance risk, and reduces the customer experience quality. It also exposes sensitive documents to unnecessary human access and potential data leakage.

Solution


Extract automates Know Your Customer (KYC) document verification by intelligently ingesting, classifying, and validating identity documents in real time. Using advanced OCR and LLM-based document understanding, it extracts structured data like names, addresses, and dates from scanned files, identifies document types without needing rigid templates, and cross-validates against CRM or application records. All operations occur within secure enterprise environments, preserving data privacy and auditability.

Industry

  • Banking & Fintech: Accelerate account openings while reducing fraud and manual review errors.

  • Telecom & Utilities: Speed up identity validation for new service registrations.

  • Insurance: Automate KYC compliance during policyholder onboarding.

  • Real Estate & Legal: Verify identity and residency for leases, transactions, or regulatory filings.

  • Healthcare: Confirm patient identity while maintaining HIPAA-compliant data handling.

Role & Department

  • Compliance & Risk Teams: Ensure strong KYC/AML adherence with reduced manual workload.

  • Customer Onboarding Teams: Shorten application turnaround time and reduce drop-off.

  • IT & Security: Retain full control over document access, encryption, and auditability.

  • Operations: Process more verifications faster, with fewer escalations or rechecks.

  • Product Teams: Seamlessly embed AI-driven document verification into digital onboarding flows.

Summary


Extract turns document-heavy KYC processes into streamlined, automated workflows that intelligently extract and verify critical identity information. It boosts onboarding speed, reduces risk, and ensures secure processing — all within enterprise-controlled environments.