Bank Account Verification & Payments

Digitization of Payments industry using Digital KYC

Digital Payments, being the largest growing industry today has transformed the traditional ways of payment. Although evolving so rapidly, this industry still faces a major challenge in the acceptance of payment instruments.

PiChain’s solution not just reduces the cost of onboarding using Digital KYC but also minimizes the merchant risks with its intelligent AI-based risk solutions. It is a complete digital customer onboarding solution assisting both, Merchant and Customer KYC.

DigitalPayment

Merchant Onboarding

Our solution helps the Acquirers to digitalize the Merchant Onboarding process using the automated application. The Acquirer can onboard merchants with this underwriting tool and application ensuring an end-to-end encrypted and secured process. The Digital KYC solution eliminates all the obstructions to create an uninterrupted onboarding experience.

Despite your existing workflow or operations, this solution can be customized as per your needs. The advanced and multi-level secured technology helps to automate the application and onboard clients. Face recognition, Artificial Intelligence & other technologies can facilitate speedy and Scalable onboarding in the MSME segment.

PiChain’s solutions encompass 2 core components – Merchant Application tool, assisting in data capturing & extraction and Merchant Underwriting Tool, for making informed decisions. Together, they provide you with a customizable, flexible and secured support for onboarding.

Credit Card Or Wallet KYC

Whenever a new customer registers with the business, the details are collected and verified using the Digital KYC technology. The customer details are collected to create a profile which can be assessed for onboarding. Our solution helps the business to create a risk profile of the customer based on which it decides if the profile meets the requirements.

Our automated application is flexible enough to be altered as per the workflow system of the business. This application is compatible on any device; desktop, mobile or tablet. It is further segregated into 2 modules: Self and Agent-based KYC onboarding. The whole process can be completed without interruption in a single-window application.

Features

  • Online Identification checks – The users submit various documents or government IDs that are valid for the KYC process. The data extraction technology capture & record these details which are verified by our forgery system which uses AI-enabled image forensics technology.
  • Digitized Business checks – The proprietary algorithms record the business name and other important details in its database. The system then runs a reference check against the government and international databases.
  • Automated Background risk checks – Our solution has huge data sources over which our algorithm can run various credit checks, AML/CFT checks, Negative Merchant Ezmatch DB and other important checks. Integrated Intelligence and automated tools safeguard your interests & mitigate risks & red flags.
  • Digital Income checks – To estimate the income of your potential customer, we use both, digital as well as traditional sources. The intelligent AI-enabled system runs through the customer’s income tax return, bank statement, salary slip, employer’s verification to ensure there are no frauds.
  • Secured digital contracts – A simple, flexible and secure way by which you can sign and obtain contracts digitally. Our blockchain and AI-enabled smart contracts enhance security while digitally signing the contracts.
  • Modern UI backend Dashboard – Our AI algorithms enables risk managers to get a real-time overview of the risk assessment of the customer. Integration of all the risk information on a single dashboard allows quick decision making; whether to accept or reject the customer.

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