The Problem: Anti-money laundering regulations require entities like Banks and NBFCs to execute KYC compliance before they establish any account relationship with their clients.
The Solution: Our comprehensive KYC Box solution enables lenders to parse KYC documents through easily accessible APIs and in the case of Aadhaar e-KYC and PAN, verify the identity against the government databases.
Basis Bank Statement Parsing
The Problem: The greater the number of data points lenders have at their disposal, the better they are likely to credit decision a potential borrower. Bank statements offer important insights on income, average daily balance, overdrafts, check bounces and other relevant credit proxies of a potential borrower.
The Solution: Our bank statement parser solution available to the lenders via APIs offers the lenders an easy way of integrating these additional data points into their credit score engine for closer approximation of a credit risk a potential borrower presents.
Employment Verification &
The Problem: Employment information provided by the borrower is relevant to the credit risk the borrower presents and hence it is important that such information be independently verified. The actual exercise of verification however can be a time consuming and costly exercise involving feet on street and so forth. The addresses provided by the borrower also needs verification.
The Solution: Our employment verification tool obtains 8-10 data points to verify the borrower's employer. The address match tool compares the address provided by the borrower against the addresses in accessible data repositories to verify addresses facilitating CAC optimization.
If you want to explore how any of the use-cases discussed above can be leveraged by your lender organization to lend faster and better, please write in to firstname.lastname@example.org and we will be in touch.