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From Drop-Offs to Digital Success: AI-Powered Customer Onboarding & KYC Automation

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Our client, a regional mid-sized bank with a customer base of over 2 million retail and SME clients, was focused on aggressive digital expansion to strengthen its market position. While the bank had invested in modern digital channels such as mobile and internet banking, one critical bottleneck remained the customer onboarding process. The onboarding journey was heavily dependent on manual paperwork, in-person verification, and repetitive compliance checks. This not only created friction for new customers but also resulted in delays, higher drop-off rates, and lost opportunities. Customers seeking quick account opening often abandoned the process, while internal teams were overburdened with manual validation and compliance reporting.

The Challenge: Losing Customers at the First Step

The bank’s onboarding journey was riddled with inefficiencies:
  • Over 40% of applicants abandoned onboarding, citing lengthy processing.
  • Manual KYC checks took 2–3 days, involving multiple back-office teams.
  • Customers had to make at least 2 branch visits for document submissions and approvals.
  • Rising compliance requirements under AML and CFT regulations made processes even slower.
  • Competitors (neo-banks and fintechs) were onboarding customers within 10 minutes on mobile apps.
The bank was at risk of losing tech-savvy customers and missing its digital transformation goals.

The Solution: Seamless Digital Onboarding with AI + Automation

Amantra deployed an AI-powered onboarding & KYC automation solution that reimagined the process:
  1. Intelligent Document Processing
    • AI extracted and validated data from IDs, utility bills, and business registration documents in seconds.
    • OCR + NLP ensured 98% accuracy in data capture.
  2. Automated Compliance Checks
    • RPA bots integrated with AML databases, sanction lists, and credit bureaus.
    • Background checks completed in under 5 minutes instead of 48–72 hours.
  3. Core Banking System Integration
    • Verified data flowed directly into CBS and CRM systems, removing redundant manual data entry.
  4. Customer-Centric Digital Journey
    • A single mobile/web interface enabled customers to complete onboarding anytime, anywhere with no branch visits required.

The Results: Faster Onboarding, Higher Conversions

  • 38% increase in completed customer onboardings within 6 months.
  • KYC verification time reduced by 80%, from 2–3 days to under 30 minutes.
  • Customer satisfaction scores improved by 55%, reducing drop-offs.
  • Enhanced compliance with digital audit trails for every onboarding.
  • Operations team workload reduced by 1,000+ hours/month, enabling faster scale-up.
Bottom Line: With Amantra automation-first approach, the bank shifted from a manual, paper-heavy process to a digital-first customer experience, improving acquisition, compliance, and operational agility.