KYC Process Transformation Using AI/ML for a Mid-Sized California Bank

Client Background

• Our client is a reputed mid-sized bank based in California delivering deep personal banking experiences using its customer-centric products
• To differentiate itself from its California-based competitors, the bank wanted to offer a seamless account opening experience to prospective customers

Xoriant Solution

• The bank chose Xoriant as its technology partner considering our engineering experience and expertise with Microsoft Azure services
• Xoriant's KYC Compliance and Account Opening solution helped the client significantly reduce manual efforts and minimize errors in the KYC validation process during the account opening

Key Benefits

• Achieved 46% efficiency improvement in the overall KYC process
• Generated 2X customer satisfaction scores related to account opening