Challenge
Know Your Customer due diligence at a global tier-1 bank means processing documentation from more than 40 different sources, each arriving in its own format. Reviewing, classifying, and extracting the right customer information from all of it by hand is slow work, and it puts real pressure on the bank’s anti-money laundering controls whenever volume rises faster than headcount.
Solution
NexaQuanta built an AI application for the bank’s Corporate and Investment Banking division that automatically identifies and classifies KYC documents from all 40-plus sources, reads and extracts the required customer information, performs the KYC checks and risk assessment, and generates the KYC quality control reports.
Results
20% productivity gain across the KYC review process.
- Stronger anti-money laundering risk mitigation, with checks applied consistently regardless of source or format.
- Document identification, extraction, and reporting handled automatically, freeing reviewers to focus on judgement calls rather than data entry.
What this means going forward
It automated identification, extraction, checking, and reporting end to end, inside the part of the bank most exposed to regulatory risk. Handling the full due diligence chain, rather than one isolated step, is what made the 20% productivity gain possible.
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