W2 and Machine Learning
Identity document verification often forms an integral part of business critical processes like customer enrolment and new client registration, as well as in situations where certified identity is crucial - such KYC (Know Your Customer) checks within the regulatory & compliance guidelines set out in say the Betting & Gaming sector.
These ‘text rich’ documents are one of the richest sources of data for any business; names, proof of address, bank account details, transactional details, dates, times etc. They all contain valuable information that can be used to automate slow manual processes, better understand users, or find valuable insights. However, traditional algorithms struggle at processing these unstructured documents, and this is where Machine Learning (ML) kicked in for us.
Providing one single integration for all your KYC document processing, our Machine Learning journey began many years ago.
Like others, we recognise that that the field develops still further, machine learning promises to support potentially transformative advances in a range of areas let alone ‘just’ document verification, optical character recognition and associated text extraction / document classification, the social and economic opportunities which follow will be significant.
In recent months, we’ve engaged with several Academic Research Institutions to help push our thinking in this area and how – building on what we already have in place today – Machine Learning can further help our clients reduce fraud, increase conversion within their online acquisition processes and in turn, enhance their back-office efficiency. Recent years have seen exciting advances in Machine Learning across many different market sectors and verticals, our work with the aforementioned institutions will allow us to remain at the forefront of the making customer on boarding, fraud prevention and responsible gambling initiatives as reliable, affordable and frictionless as they can be.
With advances in Machine Learning, is it obvious to state the aim of our Machine Learning strategy?
We are looking to make our products & services more insightful and intelligent than they are already (obviously).